OEMs are investing huge amounts in research & testing application worldwide leading to continuous advancements in simulation technologies. The growing trend of using driving simulators and continued improvement in simulation are among the major factors responsible for the expected advancements in the driving simulator market. The Driving Simulator Market is expected to grow from USD 1.7 billion in 2019 to reach USD 2.4 billion by 2025, at a CAGR of 6.32%. The continuous growth in research & testing of advanced components by manufacturers and OEMs in the automotive industry is further anticipated to boost the driving simulator market. In 2018, IPG Automotive introduced the RDX Test Generator that enabled early RDE tests with virtual test driving. The RDX Test Generator as an add-on for the simulation solutions of the CarMaker product enabled the straightforward generation of reproducible real driving test scenarios, taking adjustable driver behavior and traffic density into account.
In vehicle type, the car simulator segment is estimated to be the largest driving simulator market. The rising number of enthusiasts and growing demand for passenger vehicles in emerging and developed countries have contributed to the growth of the driving simulator market for car simulators.
Asia Pacific is estimated to be the fastest growing driving simulator market during the forecast period, as the region has emerged as a hub for automobile production. The growing purchasing power of consumers in this region has triggered the demand for automobiles. Cost advantages for OEMs, low automobile penetration levels, and increased vehicle production offer attractive market opportunities for OEMs to construct research facilities in this region. The Asia Pacific region is also home to key automotive OEMs such as Toyota, Honda, and Hyundai.
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The North American region is the largest driving training simulator market. Technological advancements and stringent traffic regulations for driving safety have increased the use of driving training simulator market. Governments, as well as private manufacturers, are focusing on installing driving simulators to reduce the number of accidents, decrease the fuel cost, and increase the driver’s safety. Most countries have taken stringent measures to avoid the number of accidents, by installing driving simulators in various private and government driving schools.
- Where will the driving simulator sale take the industry in the long term?
- Will the industry cope with the challenge of the high cost of driving simulators?
- What is the impact of government traffic safety regulations on the driving simulator market?
- What are the upcoming trends in the driving simulator market? What impact would they make post 2022?
- What are the key strategies adopted by the top players to increase their revenue?
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