Hardware in the Loop Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions, and By Key Players: dSpace GmbH, National Instruments, Vector Informatik, Siemens, Robert Bosch Engineering

Registering a CAGR of 6.1% over the forecast period, the market value of Hardware in the Loop is expected to reach US$ 1,020.4 million in the year 2027.

Hardware in the Loop Market Overview

HIL is a simulation system used to test control systems by simulating the actual hardware interconnection. The increasing application of HIL in the automotive and electronic sectors can be attributed to the market's growth. HIL is used to test vehicles, equipment, and electronic devices, as well as to simulate every possible scenario and evaluate controller and device performance. This can save a substantial amount of money spent on real-time testing of these devices, which is expected to boost market growth. Furthermore, the introduction of advanced technologies such as ADAS systems and AI for cars, unmanned aerial vehicles, and defense machinery is expected to spur market growth. Furthermore, increased investment in research and development activities is expected to boost market growth.

The continuous expansion of internet access around the world, as well as numerous technological advancements such as 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI), have significantly boosted economic growth over the last two decades. As of April 2021, more than 4.5 billion people were actively using the internet worldwide. Furthermore, the growth of the ICT sector has significantly contributed to GDP growth, labor productivity, and R&D spending, among other economic transformations in various countries around the world.

The report aspects discussed the profile of the top manufacturers of the global Hardware in the Loop market. These aspects include the financial status of major companies, trending advancements, and the entire market scenario. Growth of the report has examined Hardware in the Loop Market production, demand and growth potential, geographic analysis, as well as current market developments in various regions and countries.

Who are the Major Players in the Hardware in the Loop Market?

The global Hardware in the Loop includes the identification and analysis of the various market participants competing in the global market. Prominent competitors include dSpace GmbH, National Instruments, Vector Informatik, Siemens, Robert Bosch Engineering, MicroNova AG, Opal-RT Technologies, LHP Engineering Solutions, Ipg Automotive GmbH, Typhoon HIL, Speedgoat GmbH, Eontronix, Wineman Technology, Modeling Tech, Aegis Technologies and others.

Industry News and Updates:

New Microgrid Simulation and Testing Methods Open the Door to Future Microgrids

July 23, 2019—Typhoon HIL and Microgrid Knowledge have formed an alliance to investigate the potential of new microgrid simulation and testing tools. Both businesses are heavily invested in digitalization, decentralization, and de-carbonization.

What are the major Applications, Types, and Regions for the Hardware in the Loop Market?

The market is segmented based on the type, applications, companies, and regions.

By Type, it is segmented into

• Closed Loop HIL


• Open Loop HIL

By Application, it is segmented into

• Automotive


• Aerospace & Defense


• Power Electronics


• Research & Education


• Oil & Gas


• Industrial Equipment


• Industrial Components


• Other

Hardware in the Loop Market Regional Analysis

The market in North America is expected to gain the largest market share throughout the forecast period due to the region's increased manufacturing of defence equipment and machines, as well as the adoption of advanced technology. Furthermore, increased production of automobiles and electronic devices is expected to boost market growth.

• North America
  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

The Hardware in the Loop Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type, and segment. It focuses extensively on revealing a detailed regional analysis. The Global Hardware in the Loop Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.

What is our Hardware in the Loop Market report scope?

Scope of the Report covers Hardware in the Loop Market with a detailed analysis of the overall scenario for the market. It also highlights the business participants’ environment in the global marketplace. This report also provides an overview of leading companies covering the latest successful marketing strategies, market contributions, current and historical background, and latest market happenings to help key organizations to grow and generate larger profits. Business players will greatly benefit from this Hardware in the Loop Market analysis report as it has vital details to provide about regional markets and expected opportunities for the prediction time period 2022-2027. Growth between segments is used to understand the different growth factors that are expected to dominate the market as a whole and to develop strategies to differentiate between key applications and target markets. It further reveals how the worldwide market is working through efficient information graphics.

Key Takeaways from this Hardware in the Loop Report

• Evaluate Hardware in the Loop market potential through analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at the country level - for product types, end-use applications, and different industries verticals.


• Understand the different dynamics influencing the market - growth driving factors, specific challenges, and hidden opportunities.


• Get in-depth insights on your competitor’s performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis, and more.


• Analyze the sales and distribution channels across geographies to enhance top-line revenues.


• Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies to your processes.


• Get a quick outlook on the Hardware in the Loop market entropy – M&As, deals, partnerships, and product launches of all key players for the past 5 years.


• Evaluate the import-export statistics, supply-demand, and competitive landscape for more than the top 20 countries globally for the market.

Frequently Asked Questions

What is the study period of this market?

The Hardware in the Loop Market is studied from 2017 - 2027.

What is the growth rate of the Hardware in the Loop Market?

The Hardware in the Loop Market is growing at a CAGR of 6.1% over the next 5 years.

Who are the key players in Hardware in the Loop Market?

dSpace GmbH, National Instruments, Vector Informatik, Siemens, Robert Bosch Engineering, MicroNova AG, Opal-RT Technologies, LHP Engineering Solutions, Ipg Automotive GmbH, Typhoon HIL, Speedgoat GmbH, Eontronix, Wineman Technology, Modeling Tech, Aegis Technologies

What regions does this Hardware in the Loop Market report cover?

North America (the United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

What are the significant types of Hardware in the Loop Market?

Closed Loop HIL, Open Loop HIL

What are the major end-use applications of Hardware in the Loop Market?

Automotive, Aerospace & Defense, Power Electronics, Research & Education, Oil & Gas, Industrial Equipment, Industrial Components, Other

All our reports are custom-made to your company’s needs to a certain extent, we do provide 5 free consulting hours along with the purchase of each report, and this will allow you to request any additional data to customize the report to your needs.