HARDWARE-IN-THE-LOOP (HIL) MARKET SEEN SOARING 8.5% GROWTH TO REACH USD BILLION BY 2030, PROJECTS UNIVDATOS MARKET INSIGHTS

Key Highlights of the Report:

• Key Applications: The major applications driving the growth of the HIL market include powertrain and transmission test, brake system test, advanced driver assistance systems (ADAS), autonomous vehicles, and aerospace & defense.
• Growth Drivers: The increasing adoption of electric and hybrid vehicles, rising emphasis on vehicle safety and security, and technological advancements in HIL testing are some of the key factors fueling the growth of this market.
• Top Players: Some of the leading players operating in the HIL market include Speedgoat GmbH, Typhoon HIL, Inc., LHP, Inc., Vector Informatik GmbH among others.
• Trends and Opportunities: Emerging trends and opportunities in the HIL market include the integration of artificial intelligence (AI) and machine learning algorithms into HIL testing solutions, the development of cyber-physical systems, and the growing demand for connected and autonomous vehicles.

The Hardware-In-The-Loop (HIL) Market was valued at 817 million in 2022 and is expected to grow at a steady rate of around 8.5% in the forecasted period (2023-2030) owing to the increasing demand for advanced driver assistance systems (ADAS) and autonomous vehicles, along with the rising adoption of electric vehicles, are key factors driving the growth of the HIL market. Additionally, government regulations and standards related to vehicle safety and emissions are also contributing to the growth of the HIL market. For instance, the US Environmental Protection Agency (EPA) and the National Highway Traffic Safety Administration (NHTSA) have proposed stringent vehicle emission standards to fight climate change and improve air quality for communities.

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Some of the recent developments are:

• In 2023, Speedgoat GmbH has recently announced the launch of the new generation Performance real-time test system, which is fully integrated with MATLAB and Simulink Real-Time™, making it compatible with the latest MATLAB releases and ensuring long-term availability of components and responsive support.
• In 2022, National Instruments Corp. (NI) has partnered with Konrad Technologies to develop a new Hardware-in-the-Loop (HIL) test system for advanced driver-assistance systems (ADAS).

Conclusion

The Hardware-in-the-Loop (HIL) market is experiencing significant growth, driven by factors such as technological advancements, faster product development, and growing demand in developing countries. According to the UnivDatos Market Insights analysis, “Hardware-In-The-Loop (HIL) Market” report, the global market was valued at USD 817 million in 2022, growing at a CAGR of 8.5% during the forecast period from 2023 – 2030 to reach USD billion by 2030.

Key Offerings of the Report

Market Size, Trends, & Forecast by Revenue | 2023−2030.

Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities.

Market Segmentation – A detailed analysis of type and application.

Competitive Landscape – Top Key Vendors and Other Prominent Vendors.