Market size – USD 4.56 billion in 2020, market growth – at a CAGR of 3.3%, market trend
— Emerging 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 stable CAGR during the forecast period , according to the latest analysis from Emergen Search. Growing demand for driving simulators to enable novice drivers to train and practice, and driving tests to obtain a driver’s license are some of the key factors driving the demand for car driving simulators.
The increasing adoption of driving simulators for performance testing of autonomous vehicles is a key driver for the revenue growth of the global driving simulators market.
Growing adoption of simulators for vehicle testing, increasing investments from government and private investors, and rapid technological advancements in driving simulation technologies and related software and hardware are other key factors supporting the growth. revenue from the global driving simulators market.
Traditionally, driving simulation technology includes software and hardware components such as the display, gear lever, steering wheel and pedals. This configuration required a larger deployment location and transportation was difficult. However, more advanced driving simulation systems are compact and offer enhanced and realistic graphics, sound, vehicle interior, static universe that includes buildings, trees, roads and the like, and dynamic objects as well as moving objects such as people and cars. The demand for simulators in the automotive and aeronautical industries is increasing. Car manufacturers currently use this technology to test the performance of cars and systems. In the aviation industry, simulation technology is used to provide a realistic flight experience when training commercial and military aircraft pilots.
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The report also discusses key players involved in the market such as:
Major players operating in the market are Cruden BV, 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 market entrants. It focuses on recent mergers and 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 condition and business base. consumers.
Some key findings from the report:
In February 2019, Adacel Systems Inc. became part of the Lockheed Martin team through a subcontract to support Training Aids, Devices, Simulators and Simulations (TADSS), the maintenance program (ATMP).
The aircraft segment accounted for a relatively large revenue share in the global market in 2020. The increasing adoption of simulation technology in the aviation industry is a major driver of revenue growth for this segment.
The market in Europe accounted for a major share of the global market in 2020. Key factors such as technological advancements, growing adoption of simulation technology in automotive sectors, and strong presence of key market players are driving the growth of market revenues in this region.
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For the purposes of this report, Emergen Research has segmented the global driving simulator market based on application, transportation type, simulator type, end use, and region:
Application Outlook (Revenue: USD Billion; 2021-2028)
Research and testing
Transportation 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)
Custom build simulator
Regional Outlook: (Revenue, USD Billion; 2018-2028)
North America (United States) (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 hypotheses Research data, including primary and secondary data
Primary data includes primary breakdown and key industry insights
Secondary data includes key data from secondary sources
The regional segmentation includes current and forecast estimation of the market in key geographical regions such as North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
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Chapter 1 includes an introduction of the global Driving Simulator Market, along with a comprehensive market overview, market scope, product offerings, and a survey of the market drivers, growth opportunities, risks, stresses and other vital factors.
Chapter 2 offers an in-depth analysis of key manufacturers engaged in this business vertical along with their sales and revenue estimates.
Chapter 3 details the highly competitive terrain of the market, highlighting the major manufacturers and suppliers.
In Chapter 4, our team has fragmented the Driving Simulator market based on regions, highlighting the sales, revenue and market share of each region over the forecast period.
Chapter 5 and 6 have emphasized on segmentation of the Driving Simulator market on the basis of product type and application
Thank you for reading our report. Please contact us if you have any questions regarding the report or its customization. Our team will ensure that the report is best suited to your needs.
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The size of the driving simulator market worth USD 5.96 billion by 2028