Driving Simulator Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027) – Yahoo Finance
The driving simulator market size was valued at USD 585. 05 million in 2021, and it is expected to reach UNITED STATES DOLLAR 790. 90 million by 2027, rising at a market growth of 5. 27% CAGR during the forecast period.
New York, Aug. 04, 2022 (GLOBE NEWSWIRE) — Reportlinker. com announces the release of the report “Driving Simulator Marketplace – Development, Trends, COVID-19 Impact, plus Forecasts (2022 – 2027)” – https://www.reportlinker.com/p06311678/?utm_source=GNW
Due to the COVID-19 pandemic outbreak and the subsequent lockdowns (with all the restrictions followed), the driver simulator market witnessed a decline. Like any other industry, the particular pandemic showed a negative impact on the driving sim market as well. Major countries with a large market share are negatively impacted by the particular pandemic, subsequently reducing the installation of driving simulators. However, as the economies slowly returned to a state associated with normalcy, the market is picking up pace and is expected to grow positively during the forecast period.
As technologies in automobiles are improving day simply by day, there is also a significant need for safety features in them. Most accidents happen due to human errors, lack of driving skills, etc . To avoid such situations, driving simulators are the best possible way to enhance driver skills in a virtual manner where a real-time environment is created artificially. This system helps the driver in managing the situation in a controlled manner. Thus, a driving simulator is more efficient and improves safety to a great extent.
The adoption of traveling simulators and analysis technology has experienced an increase in the railways, aviation, marine, defense, plus automotive sectors, as it helps in testing and analyzing the designs of products in the virtual environment. Especially in the automobile sector, there is a consistent boost in the demand for advanced safety features in compact and mid-sized automobiles, as most countries are bringing within new laws to improve vehicular safety. Moreover, increasing stringency of safety and environmental regulations has compelled manufacturers and authorities to invest in generating simulators with innovative styles for training. This derastically decreases the particular research and developmet cost of the advanced features in a new vehicle.
Simulators are one of the crucial aspects of the development and screening of new vehicles. The particular simulator’s result helps engineers in making important decisions by running virtul simulations while building the prototype plus testing the particular vehicle on the track.
Additionally , the electrification of automotive components, the advent of semi-autonomous and autonomous vehicles, as well as the increasing influence associated with technology companies within the auto industry are usually growth factors for the particular driving simulator market. The automotive industry is heading toward autonomous vehicles.
Most of the vehicle manufactures are working on autonomous vehicles technologies, which is not possible without simulators, and in the future, new players are likely to enter the field of autonomous vehicles, which will drive the market growth in the forecast time period. Major automaker companies, technology giants, plus specialist start-ups have invested more than USD 50 billion over the past five years to develop autonomous vehicle (AV) technology, along with 70% of the money coming from other than the automotive industry. At the same time, public authorities see that AVs offer substantial potential economic and social benefits.
Key Market Trends
Autonomous Vehicle Acts as a Growth Engine for the particular Market
Vehicle manufacturers are investing heavily in autonomous car technologies and entering partnerships in order to develop the best autonomous automobile, as autonomous vehicles require enormous data collecting plus processing. The entire data will be shared between IoT-connected cars and uploaded wirelessly to some cloud system to be analyzed and used to improve automation.
In December 2021, Honda R& D Co. extended its long-term relationship with Ansible Motion after commissioning the latest advanced Delta S3 DIL simulator. The particular versatile sim, with the larger motion space plus increased dynamic range, will enable the efficient advancement of long term road and race automobiles and their associated systems at its Sakura engineering facility.
In March 2021, Volvo Group signed an agreement with NVIDIA to jointly develop the particular decision-making program of autonomous commercial vehicles and machines. Utilizing NVIDIA’s end-to-end artificial intelligence platform for coaching, simulation, plus in-vehicle computing, the resulting system will be designed to handle fully autonomous driving on general public roads and highways safely.
Within January 2021, General Motors announced they had entered a long-term strategic partnership with Microsoft to accelerate the commercialization of self-driving vehicles. The companies will bring together their own software plus hardware architectural excellence, cloud computing capabilities, manufacturing know-how, and partner ecosystem in order to transform transportation.
Because of the rise in the demand with regard to safer automobiles, companies are usually investing in the particular autonomous vehicle technology which is expected to the primary driver associated with Driving Simulator Market in the prediction period.
Europe is Expected to Lead the Market
Europe is usually led simply by Germany, that is one of the most technologically superior markets within the world. There is rapid growth regarding Level 2 and Level 3 autonomous cars in this region, equipped with sophisticated driver assistance systems, like collision detection, lane departure warning, and adaptive cruise control. The other upper-level autonomous cars are also gaining support from governments and various companies, which are working together on different projects associated with automated traveling systems technology.
In December 2021, The particular Sapphire automobile dynamics simulator at a BMW facility within Munich was introduced because one of 14 various simulators in the company’s new Traveling Simulation Centre, an USD 105-million, 123, 000-square-foot space that is definitely the global most superior simulation facility.
In October 2021, Simumak introduced a traveling school service in France. This generating school can be equipped with a simulator, Simescar lite, which is the driving sim to expand the driving force teaching services within the French market.
In July 2021, Dynisma Ltd., an UK-based movement simulator technologies organization, announced the details of its newly launched world-leading DMG-1 plus lightweight DMG-1 Carbon innovative driving simulators.
Hence, since the manufacturers are purchasing the driviging simulators to test latest technology and new product launches in the region are expected to drive the Generating Simulator Market in the particular following many years.
Competitive Landscape
The driving simulator market is fragmented with several active players’ presence, which includes major existing businesses and brand new startups. Some of the major players in the market are Cruden BV, AutoSim AS, AVSimulation, and Ansible Motion. As the particular market is certainly growing rapidly, the simulator companies are usually incorporating the latest feature and launching new advanced products in their line-up associated with driving simulators. For instance,
In This summer 2021, Dynisma Ltd of the United Kingdom announced the release of the new sophisticated driving simulators. These Dynisma Motion Generators (DMGs) are specifically designed intended for automotive producers and suppliers for superior vehicle growth and tests
Within April 2021, AB Dynamics announced the simulation product family that includes a workstation, desktop, static, plus dynamic variants for use in automotive and motorsport applications, according to the particular company.
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