Market Size – USD 4.56 Billion in 2020, Market Growth – at a CAGR of 3.3%, Market Trend
— Emergen Research
VANCOUVER, BC, CANADA, June 1, 2022 /EINPresswire.com/ — The global driving simulator market is expected to reach a market size of USD 5.96 Billion by 2028 at a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Rising demand for driver simulators to enable novice driver to train and practice, and for driving tests to secure a driver’s license are some key factors driving demand for car driving simulators.
Rising adoption of driving simulators for performance testing of autonomous vehicles is a key factor driving revenue growth of global driving simulator market.
Growing adoption of simulators for vehicle testing, increasing investment by government and private investors, and rapid technological advancements in driver simulator technologies and related software and hardware are other key factors supporting revenue growth of the global driving simulator market.
Traditionally, driver simulation technology comprises software and hardware components such as screen, gearshift, steering wheel, and pedals. This setup required larger deployment place, and transportation was difficult. However, more advanced driving simulation systems are compact and offer improved and realistic graphics, sound, interior of vehicle, static universe that includes buildings, trees, roads, and others, and dynamic objects as well as moving objects such as people and cars. Demand for simulators in automotive and aviation industries is increasing. Automotive manufacturing companies are currently using this technology to test car and system performance. In the aviation industry, simulation technology is used to provide realistic flight experience during pilot training for commercial and military aircraft.
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The report also discusses the key players involved in the market such as :
Key players operating in the market are Cruden B.V., Cassidian, ECA Group, Tecknotrove Simulator System Pvt. Ltd., Adacel Technologies, L3 Technologies Inc., Bosch Rexroth AG, Anthony Best Dynamics Ltd., Mechanical Simulation Corporation, and Virage Simulation Inc.
as well as new entrants in the market. It focuses on the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others. The report also provides details about the company overview, business expansion plans, product portfolio, manufacturing and production capacity, global market position, financial status, and consumer base.
Some Key Findings in the Report:
In February 2019, Adacel Systems Inc. became a part of Lockheed Martin’s team through a subcontract to support Training Aids, Devices, Simulators, and Simulations (TADSS), Maintenance Program (ATMP).
Aircraft segment accounted for a relatively large revenue share in the global market in 2020. Rising adoption of simulation technology in the aviation sector is a major factor driving revenue growth of this segment.
The market in Europe accounted for a major share in the global market in 2020. Key factors such as technological advancements, rising adoption of simulation technology in automotive sectors, and robust presence of key market players are driving revenue growth of the market in this region.
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For the purpose of this report, Emergen Research has segmented the global driving simulator market based on application, transport type, simulator type, end-use, and region:
Application Outlook (Revenue: USD Billion; 2021–2028)
Research and Testing
Transport Type Outlook (Revenue: USD Billion; 2021–2028)
Truck and Bus
Simulator Type Outlook (Revenue: USD Billion; 2021–2028)
Advanced Driving Simulator
End-Use Outlook (Revenue: USD Billion; 2021–2028)
Customed build Simulator
Regional Outlook: (Revenue, USD Billion; 2018-2028)
North America (U.S.) (Canada) (Mexico)
Europe (Germany) (UK) (France) (BENELUX) (Rest of Europe)
Asia Pacific (China) (Japan) (South Korea) (Rest of APAC)
Latin America (Brazil) (Rest of LATAM)
Data triangulation and market breakdown
Research assumptions Research data including primary and secondary data
Primary data includes breakdown of primaries and key industry insights
Secondary data includes key data from secondary sources
Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Table of Contents:
Chapter 1 includes an introduction of the global Driving Simulator Market, along with a comprehensive market overview, market scope, product offerings, and an investigation of the market drivers, growth opportunities, risks, restraints, and other vital factors.
Chapter 2 offers an in-depth analysis of the key manufacturers engaged in this business vertical, along with their sales and revenue estimations.
Chapter 3 elaborates on the highly competitive terrain of the market, highlighting the key manufacturers and vendors.
In Chapter 4, our team has fragmented the Driving Simulator market on the basis of regions, underscoring the sales, revenue, and market share of each region over the forecast timeline.
Chapters 5 and 6 have laid emphasis on the Driving Simulator market segmentation based on product type and application
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Driving Simulator Market Size Worth USD 5.96 Billion by 2028