Press release
Global Hardware in the Loop (HIL) Simulation Market Top Leading Players with Strategies and Forecast 2022-2028
The global HIL simulation market is anticipated to grow at a considerable CAGR of 7.6% during the forecast period (2022-2028). HIL simulation is a technique that is used for the development and real-time testing of complex embedded systems. The major factor attributing to the growth of the global HIL simulation market includes the increasing use of HIL simulation technique for testing electronic control units (ECUs) of advanced driver assistant systems (ADAS) and cruise control systems in passenger cars and commercial vehicles due to increasing production of motor vehicles across the globe. According to the 2021 Production Statistics report published by the International Organization of Motor Vehicle Manufacturers (OICA), around 80 million motor vehicles were produced across the globe in 2021. Among these, around 23 million commercial vehicles were manufactured and around 57 million passenger cars were produced in 2021.The application of the HIL simulation technique is also increasing for testing of real-time simulated conditions, and components in several other sectors, including defense, aerospace, education & research, and others due to various benefits offered by using HIL simulation. The benefits include no cost related to potential equipment damage, reduced investment and maintenance, reduced risk of endangering people in tests, ability to control the environment during tests, and flexibility in a testing wide range of scenarios, parameters, and faults. Additionally, HIL simulation offers various other advantages including the ability to perform an unlimited number of automated tests, continuous testing can find faults faster and fix the bugs and saves time in building & utilize the setup. Thus, propelling the growth of the global HIL simulation market.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in March 2022, Artemis Technologies launched a new powerboat simulation capabilities using HIL simulator. The new simulator is fitted with full-scale cabin housing with an identical console to provide a human-machine interface (HMI) to the 11m technology demonstrator. This new simulation tool will benefit by providing valuable engineering tools, and pilot training support.
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Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Component
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- dSPACE GmbH, IPG Automotive gmbH, Speedhoat GmbH, Embraer S.A., and Typhoon HIL, among others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
A full report of Global Hardware in the Loop (HIL) Simulation Market is available at:
https://orionmarketreports.com/global-hardware-in-the-loop-hil-simulation-market/48416/
Global Hardware in the Loop (HIL) Simulation Market Report by Segment
By Component
• Hardware
• Software
By Application
• Defence
• Aerospace
• Automotive
• Education & Research
• Others
Company name: Orion Market Reports
Contact person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
About us:
Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
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