; Hardware-in-the-Loop Market Size, Analysis, Forecast, 2031

Hardware-in-the-Loop Market

Hardware-in-the-Loop Market: By Product Type (Open Loop HIL, Closed Loop HIL), By Industry Vertical (Defense, Aerospace, Automotive, Power Electronics, Research & Education, Others), And Region - Global Analysis of Market Size, Share & Trends For 2019-2021 And Forecasts To 2031

Published on: Mar-2022
Report Code: FG ES 01423
No. of Pages: 170 - 350
Report Format: PDF

[170+ Pages Research Report] Hardware-in-the-Loop Market to surpass USD 1,582.4 million by 2032 from USD 786.4 million in 2021 at a CAGR of 7.2% throughout the forecast period 2021-31.

Product Overview

HIL (hardware-in-the-loop) simulation, often known as HWIL or HITL, is a technique for developing and testing sophisticated real-time embedded systems. By adding the complexity of the process-actuator system, known as a plant, to the test platform, HIL simulation provides an effective testing environment. By including a mathematical description of all connected dynamic systems in testing and development, the complexity of the plant under control is included. The "plant simulation" refers to these mathematical representations. This plant simulation interacts with the embedded system that will be tested.

Market Highlights

The Global Hardware-in-the-Loop Market is expected to project a notable CAGR of 7.2% by 2031

Global Hardware-in-the-Loop Market to surpass USD 1,582.4 million by 2031 from USD 786.4 million in 2021 at a CAGR of 7.2% in the coming years, i.e., 2021-2031. The market is being driven by the rising complexity of embedded system design and testing, as well as the shorter time to market. Aside from that, the HIL testing technique aids in enhancing output with less time and expense investment, as well as without causing equipment damage or putting lives in danger. Furthermore, the market's increasing usage in a variety of applications, such as electricity and industrial robots, would act as an opportune driver to drive growth throughout the projected period.

Figure - Market Analysis of Global Hardware-in-the-Loop Market

Global Hardware-in-the-Loop Market: Segments

The Open Loop HIL segment is expected to grow with the highest CAGR during 2021-31

On the basis of Product Type, the global Hardware-in-the-Loop Market is fragmented into Open Loop HIL, and Closed Loop HIL. The open loop HIL category holds a considerable market share and is expected to develop at a healthy rate throughout the forecast period. The open loop HIL is easier to operate and delivers more consistent results. It is far less expensive than the closed loop HIL. This segment is not only simple to design and use, but it is also simple to maintain.

The Automotive segment is expected to grow with the highest CAGR during 2021-31

Global Hardware-in-the-Loop Market is classified on the basis of Industry Vertical into Defense, Aerospace, Automotive, Power Electronics, Research & Education, and Others. Automotive is the biggest application area for hardware in the loop industry, followed by aerospace. The automotive industry's leadership can be credited to the widespread adoption of HIL technology by automakers for producing better ECUs, decreasing time to market, and complying with numerous industry requirements. The hardware in the loop technique is non-destructive, time- and cost-effective, and these characteristics are helping to propel the aerospace market forward.

Figure - Market Analysis of Global Hardware-in-the-Loop Market

 

Market Dynamics

Drivers

Explosive Demand from the Electronic Companies for a Wide Range of Applications

The flourishing automotive, aerospace, and defence industries fuel the global hardware-in-the-loop business. In the automobile sector, hardware in the loop is a critical component for the development of ECUs. As a result, the increased use of ECU by the automobile sector to comply with various industry requirements is expected to drive hardware demand in the loop market. The increased demand for HIL technology from electronic firms for various applications is expected to drive market expansion over the forecast period. The industry is also predicted to benefit from the increasing expansion of significant market participants in the world's developing economies.

High Complexity in HIL Simulator

A HIL simulator's level of complexity to run at ultra-high speeds or require dedicated IO to generate high frequencies is extremely high. In the original machines or on the platform, wires transport information at very high frequencies, and replicating the same structure at a low level may increase the complexity of employing hardware in the loop (HIL) simulators.

Restraint

Reluctance for investment by manufacturers to hamper the market

One of the major restraints in the hardware in the loop market is manufacturers' unwillingness to invest in the HIL approach as a result of the current economic downturn, which has caused them to minimize costs. There is a reluctance to spend because a significant amount of money is required in the early stages of the HIL system purchase.

Global Hardware-in-the-Loop Market:

Key Players

  • dSPACE GmbH

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

  • Embraer S.A.
  • Speedgoat GmbH
  • Typhoon Hil, Inc.
  • IPG Automotive GmbH
  • Honda Aircraft Company,
  • Siemens Plm Software, Inc.
  • National Instruments Corp.
  • Opal-RT Technologies, Inc.
  • Aegis Technologies Group, Inc.
  • Robert Bosch Engineering and Business Solutions Pvt. Ltd.
  • Other Prominent Players

Global Hardware-in-the-Loop Market: Regions

Global Hardware-in-the-Loop Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. In past years, North America accounted for the greatest proportion of the loop hardware market. Over the forecast period, the market in the region is expected to rise at a high CAGR. North America's leadership position can be ascribed to the region's demand for the hardware in the loop technique from the automobile and aerospace industries. This is due to the United States' position as one of the world's largest automotive and aircraft producers.

 

 

Impact of COVID-19 on Hardware-in-the-Loop Market

The sudden emergence of the COVID-19 pandemic prompted the establishment of strict lockdown laws in some countries, causing delays in Hardware-in-the-Loop import and export (HIL).

Global Hardware-in-the-Loop Market is further segmented by region into:

  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, Japan, Singapore, and Rest of Asia Pacific
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, South Africa, and Rest of Middle East and Africa

The Global Hardware-in-the-Loop Market report also contains analysis on:

Hardware-in-the-Loop Market Segments:

  • By Product Type
    • Open Loop HIL
    • Closed Loop HIL 
  • By Industry Vertical
    • Defense
    • Aerospace
    • Automotive
    • Power Electronics
    • Research & Education
    • Others 
  • Hardware-in-the-Loop Market Dynamics
  • Hardware-in-the-Loop Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies Involved in the Market
  • Value Chain of the Market
  • Market Drivers and Restraints

Hardware-in-the-Loop Market Report Scope and Segmentation

REPORT ATTRIBUTE

DETAILS

Market size value in 2021

USD 786.4 million

Revenue forecast in 2031

USD 1,582.4 million

Growth Rate

CAGR of 7.2% from 2021 to 2031

Base year for estimation

2020

Quantitative units

Revenue in USD million and CAGR from 2021 to 2031

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product Type, Industry Vertical, and Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)

Key companies profiled

dSPACE GmbH, Embraer S.A., Speedgoat GmbH, Typhoon Hil, Inc., IPG Automotive GmbH, Honda Aircraft Company, Siemens Plm Software, Inc., National Instruments Corp., Opal-RT Technologies, Inc., Aegis Technologies Group, Inc., Robert Bosch Engineering and Business Solutions Pvt. Ltd., and Other Prominent Players.  

Frequently Asked Questions (FAQ):

Hardware-in-the-Loop Market size was estimated at USD 786.4 million in 2021 and is expected to reach USD 1,582.4 million in 2031.

HIL is a simulation system that is used in the development and testing of complicated real-time embedded systems. These systems also simulate the physical component of a machine or system.

The Open Loop HIL segment accounted for the largest Hardware-in-the-Loop Market share.

Key players in the Hardware-in-the-Loop Market include dSPACE GmbH, Embraer S.A., Speedgoat GmbH, Typhoon Hil, Inc., IPG Automotive GmbH, Honda Aircraft Company, Siemens Plm Software, Inc., National Instruments Corp., Opal-RT Technologies, Inc., Aegis Technologies Group, Inc., Robert Bosch Engineering and Business Solutions Pvt. Ltd., and Other Prominent Players.

The capacity of HIL technology to help produce high-quality output with decreased time and expense is propelling the Hardware-in-the-Loop Market forward.

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