The hardware in the loop technique is being widely used in sectors such as automotive, aerospace, and research & education. The growth of this market is being propelled by the increasing application of the hardware in the loop technique because of its advantages such as high quality output with time and cost savings.
Hardware in the loop (HIL) is a simulation technology, which is used in the process of development and testing of complex electromechanical systems. The said market has been categorized based on vertical into automotive, aerospace, defense, power electronics, research & education, and others. The market has also been segmented based on geography into North America, Europe, Asia-Pacific, and Rest of the World.
hardware-loop-market
The global hardware in the loop market is expected to reach USD 826.7 million by 2020, at a CAGR of 9.37% from 2015 to 2020. Currently, North America is the largest market for hardware in the loop, followed by Europe and Asia-Pacific. The leading position of North America can be attributed to the demand from automotive and aerospace sectors in this region for the hardware in the loop technique. This is a result of the U.S. being amongst the leading automotive and aerospace manufacturers in the world; a number of prominent power electronics and defense companies such as United Technologies Corporation (U.S.), General Electric Co. (U.S.), FlexGen Power Systems Inc. (U.S.), and Lockheed Martin (U.S.) are based in the U.S.
The market in APAC is expected to grow at the highest growth rate during the forecast period. The rapid growth of the automotive industry in this region, in addition to the growth of the aerospace and power electronics sectors has contributed to the growth of the hardware in the loop market in the APAC region.
Key revenue pockets for the hardware in the loop market are expected to be automotive, aerospace, research & education, defense, and power electronics sectors. The market for power electronics is expected to grow at a high CAGR during the forecast period. OEMs use hardware in the loop solutions for developing enhanced ECUs, reducing time to market, and complying with various industry standards.
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Major players in this market include Vector Informatik GmbH (Germany), National Instruments Corporation (U.S.), DSpace GmbH (Germany), Typhoon HIL, Inc. (U.S.), AEgis Technologies Group, Inc. (U.S.), Opal-RT Technologies, Inc. (Canada), Siemens PLM Software, Inc. (U.S.), Robert Bosch Engineering and Business Solutions Private Limited (India), IPG Automotive GmbH (Germany), and Speedgoat GmbH (Switzerland).
