“Shortage of skilled drivers regarding driving safety and increased emphasis on traffic safety are significant factors for the driving simulator market globally”
The global driving simulator market is estimated to grow from USD 1.7 billion in 2019 to reach USD 2.4 billion by 2025, at a CAGR of 6.32%. Increased emphasis on traffic safety is expected to boost the driving simulator market. However, complications in real-time control and integration complexities create a hurdle for the growth of the driving simulator market.
“Increased emphasis on research & development is likely to propel the growth of advanced driving simulators during the forecast period”
The advanced driving simulator segment is the fastest and the largest growing driving simulator market. The advanced driving simulators are installed for research & development purposes of autonomous vehicles and are expected to experience rapid growth, as all OEMs are aiming to provide highly efficient vehicles. Component testing can be done with the help of advanced driving simulators in a safe environment and at relatively low cost.
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“Asia Pacific market is expected to register the fastest growth during the forecast period”
The Asia Pacific market is expected to witness the fastest growth, followed by North America. It is expected to grow rapidly as many OEMs are shifting their R&D facilities to countries such as China, India, and Japan because of the availability of innovative technologies and low investment cost.
“Europe is expected to be the largest market during the forecast period”
Europe is expected to be the largest driving simulator market, followed by North America. It is home to leading vehicle manufacturers such as Volkswagen, Renault, and Daimler. The European automotive industry has witnessed rapid development because the government adopted favorable policies in the manufacturing sector. Germany is estimated to account for the largest share of the European driving simulator market during the forecast period. The European automotive industry is highly inclined toward innovation, technology, and development of high-performance and fuel-efficient vehicles. Factors such as stringent driving safety norms and rising investment in research & development in the automotive industry are expected to propel the European driving simulator market.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in the driving simulator market.
- By Company Type: Tier I - 42%, Tier II - 40%, and Tier III - 18%,
- By Designation: C Level - 40%, D Level - 40%, and Others - 20%
- By Region: North America - 28%, Europe - 27%, Asia Pacific - 34%, Rest of the World- 11%
The driving simulator market comprises major manufacturers such as Mechanical Simulation Corporation (US), Cruden B.V. (Netherlands), ECA Group (France), Moog (US), and Oktal (France).
- The market study covers the driving simulator across segments. It aims at estimating the market size and future growth potential of this market across different segments such as the application type, vehicle type, simulator type, training simulator type, and region.
- The study also includes an in-depth competitive analysis of the key players in the market along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
- The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall driving simulator market and the subsegments.
- This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
- The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.