Press release
Development of Autonomous Vehicles Boosting Driving Simulator Market Growth
Factors such as the burgeoning demand for vehicles, soaring number of research and development (R&D) initiatives in the domain of advanced driver-assistance systems (ADAS), and surging demand for skilled drivers, owing to the high road accident rate, will facilitate the driver simulator market during the forecast period (2020-2030). According to P&S Intelligence, the market revenue stood at ~$2 billion in 2020. Moreover, the surging need for skilled commercial vehicle drivers for logistics services will support the market growth in the foreseeable future.Market Overview@ https://www.psmarketresearch.com/market-analysis/driving-simulator-market
In recent years, the advent of autonomous vehicles has become a prominent market trend. Automakers across the world are heavily investing in the development of components, such as sensors and processors, that are installed in autonomous vehicles. Nowadays, automotive original equipment manufacturers (OEMs) are using driving simulators to test the performance and capabilities of these components and features, as driving simulator systems deliver excellent testing competence in realistic surroundings. The rapid advancements being made in the autonomous technology will drive the demand for driving simulators in the coming years.
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At present, the driving simulator market is moderately consolidated in nature due to the presence of few players, such as Cruden B.V., MTS System Corp., Ansible Motion Ltd., NVIDIA Corp., AutoSim AS, OKTAL SYDAC, CAE Inc., Mechanical Simulation Corp., Dallara Group Srl, and Moog Inc. Nowadays, these players are focusing on product launches to gain a competitive edge in the market. For instance, in July 2020, Anthony Best Dynamics Ltd. introduced a static driving simulator that delivers high levels of driver immersion.
Categories under the simulator type segment of the driving simulator market are advanced simulator, compact simulator, and full-scale simulator. Among these, the compact simulator category generated the highest revenue in 2020, and it is expected to retain its dominance throughout the forecast period. This can be credited to the wide application base of compact simulators in off-highway and commercial vehicles. Besides, the lower cost of such driving simulators as compared to advanced and full-scale simulators will also facilitate the growth of this category during the forecast period.
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