With 9.6% CAGR, Hardware in the Loop Market Growth to Surpass USD 1,291 million

The hardware in the loop market is projected to grow from USD 817 million in 2022 to USD 1,291 million by 2027, at a CAGR of 9.6%.Hardware in the loop simulation is a key technology commonly used in the automotive industry for testing control modules for engines and transmissions. With the complexity of powertrain systems, these design departments have been using hardware in the loop for a while to test embedded software and controllers with actual hardware components to simulate real-world conditions. Hardware in the loop simulation can also benefit the development of ECUs for chassis and body electronics, such as airbags, active suspension, heating and cooling, seats, and keyless entry.

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Open loop testing for hardware in the loop market accounts for the largest market share during the forecast period. A use case for open loop controllers is open loop hardware in the loop testing of image processing ECU used in ADAS for automobiles. The hardware in the loop system will provide input signals simulating the image signals provided by a camera sensor. The image processing ECU will process the data to provide the final image to the automobile's ECU. Here, the hardware in the loop will receive the output signal from the ECU and will render the signal to the final image. If the final image is correct as provided signal to the ECU, the test is validated.

The aerospace vertical is expected to hold the second largest market share during the forecast period. The hardware in the loop technique is non-destructive and time-and cost-effective; these features help drive the hardware in the loop market in the aerospace sector. Embraer S.A. (Brazil), Honda Aircraft Company (US), and Airbus Group SE (France) are some of the companies in the aerospace sector which are using the hardware in the loop technique to develop and test aircraft control units without risking human life or equipment.

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The hardware in the loop market in North America accounted for the largest share in 2021. Rapid development and technological advancement in the automotive, aerospace, defense, medical, robotics, and other engineering sectors have boosted the growth of hardware in the loop testing application in the region. The shift to electric mobility, autonomous driving, UAV vehicles, and drones are major factors for increasing hardware in the loop testing in the region. The region also has major automobile manufacturers such as Ford Motor Co., General Motors, Tesla, Fiat Chrysler group, and John Deere. The NAFTA and USMCA are the few trade agreements boosting trade between the countries of the region, boosting the development of the overall regional economy.

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This release was published on openPR.