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(Transportation-News.com, May 07, 2019 ) The global Driving Simulator Market is projected to reach USD 2.4 billion by 2025 from an estimated USD 1.7 billion in 2019, at a CAGR of 6.32% during the forecast period. The market has witnessed a gradual growth, primarily due to the rising demand for safety and features. This has led to huge innovations and R&D efforts from both the OEMs and other players in increasingly using advanced driving simulators for research & development of vehicles for better efficiency. The traffic regulations enforced by various governments across the globe have been made stringent over a period of time. Hence, the government regulations pertaining to driving training simulators are expected to boost the demand for the market.
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Advanced simulator segment is estimated to account for the largest
market size during the forecast period
The advanced simulator is estimated to be the largest simulator type in 2019. Many OEMs are investing huge amounts in the research & development of vehicle testing. Research in autonomous vehicles in emerging and developed countries have contributed to the growth of driving simulators. Many OEMs are opting for advanced driving simulators at their research facilities to manufacture efficient vehicles. The Asia Pacific market has high growth potential as it is a developing economy and countries such as China, Japan, and India are attracting automotive OEMs to establish their R&D facilities in this region. Europe presents a big growth opportunity for the driving simulator market as the regulations related to the safety and environment issues have become stringent. The EU is planning to implement Euro VI norms in2020. These changes are propelling the market for testing and development of advanced vehicles, which will further increase the demand for the market.
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Compact simulator segment is estimated to account for the largest market size during the forecast period
Compact simulators are predominantly used for training novice drivers in the global driving simulator market. The key factors driving the growth of the compact simulator segment are the compact size and shape and low cost of compact simulators compared to other simulators. A compact simulator requires less space and can be installed at different driving school sites because of its easy installation and low maintenance cost. It is an ideal solution for automotive OEMs, which use a desktop technology to prepare models to be used for a more advanced simulator (both static and dynamic). North America is estimated to be the largest market in 2019 due to the developed infrastructure and highly sensitive approach toward traffic regulations.
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Key Market Players
The global driving simulator market is dominated by major players such as Mechanical Simulation Corporation (US), Cruden B.V. (Netherlands), ECA GROUP (France), Moog (US), and Oktal (France). These companies have strong distribution networks at a global level. In addition, these companies offer an extensive product range in the market. The key strategies adopted by these companies to sustain their market position are new product developments, collaborations, and contracts & agreements.
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