U.S. Driving Simulator Market, By Type (Modular Design Stimulator, Multi-Driving Simulator Station), Offering (Hardware, Software, Services), Driving Training Simulator Type (Compact Simulator, Full-Scale Simulator, Advanced Simulator), Application (Transport Authorities, Entertainment, Research and Training, Schools and Universities, Others), Vehicle Type (Car, Truck, Bus, Heavy Equipment, Motorcycle, Rail, Others) – Industry Trends and Forecast to 2029.
U.S. Driving Simulator Market Analysis and Size
Recently, a survey confirmed that 90% of the road accidents arise due to the increased chances of human errors. The driving simulation systems are rising in demand to achieve reduced chances of errors and highly-efficient outcomes. Moreover, the rapid adoption of the driving simulation and automation techniques over various end users is increasing the market's growth opportunities.
U.S. Driving Simulator Market was valued at USD 5489.20 million in 2021 and is expected to reach USD 12650.07 million by 2029, registering a CAGR of 11.00% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production and sales, and pestle analysis.
U.S. Driving Simulator Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Modular Design Stimulator, Multi-Driving Simulator Station), Offering (Hardware, Software, Services), Driving Training Simulator Type (Compact Simulator, Full-Scale Simulator, Advanced Simulator), Application (Transport Authorities, Entertainment, Research and Training, Schools and Universities, Others), Vehicle Type (Car, Truck, Bus, Heavy Equipment, Motorcycle, Rail, Others)
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Market Players Covered
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L3Harris Technologies, Inc. (U.S.), FAAC Incorporated. (U.S.), DORON PRECISION SYSTEMS, INC. (U.S.), Bosch Rexroth AG (Germany), Moog Inc. (U.S.), NVIDIA Corporation (U.S.), IPG Automotive GmbH (Germany), VI-grade GmbH (Germany), Mechanical Simulation Corporation (U.S.), ANSYS, Inc (U.S.), AVSimulation (France), VDI - Only in Simulation. (U.S.), SpaceTech GmbH (Germany), RFPRO (U.K.), Excel Driver Services, LLC. (U.S.), Virage Simulation (Canada)
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Market Opportunities
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Market Definition
The driving simulator is a technology which is used to deliver the driver by creating a virtual environment. It is used for both entertainment and educational purpose. The sensors in the simulator monitor the driver’s behavior in the driving condition and help develop the driver’s assistance system.
Driving Simulator Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Shortage of skilled drivers
With the vast shortage of skilled drivers and more than 90% of the accidents caused by human errors, a driving simulator is a much-needed tooI in the transportation and automotive sector. The rising need of logistics services foe e-commerce activities, including food delivery and growing sharing fleet, thee s a high need of trained and skilled drivers. This application provides training to drivers to avoid collision from all directions and updates the personnel with notification regarding various things such as accidents, collision, diversion ad others thus, helping them in managing the situation in a controlled manner. This factor is driving the growth of the market over the forecasted period.
Opportunities
- Rising Advancements and Investments
The advancements in industrial automation are estimated to generate lucrative growth opportunities for the market. Automotive manufacturers are investing actively in the development of components such as actuators and sensors to upgrade them into autonomous vehicular components. The driving simulator is a much-needed tool that serves as the tool for e-commerce activities, logistics activities including food delivery and gross sharing fleet facilities. Moreover, the growth and the rising funding in the research and development by major players are also estimated to offer growth prospects to the market over the forecast period.
Restraints/Challenges
- High costs of implementation
One of the barriers to market expansion is the high management costs associated with setting up a simulation system in industrial automation. The high cost associated with initial setups further increases the overall cost of driving simulation system services, hindering market growth.
This driving simulator market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the driving simulator market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on the Driving Simulator Market
The coronavirus outbreak is projected to hugely impact the driving simulator market. The driving simulator market’s manufacturing units have been shut down due to the restrictions during the lockdown generated amidst pandemic. Although the unavailability of skilled professionals have affected the market, the market is projected to show growth in the manufacturing and production units during the post-pandemic era due to the upliftment of the restrictions post-lockdown.
Recent Developments
- In 2020, FAAC Incorporated launched simulation-based situational awareness training, which is found to make roads safer by providing training for individuals to react in the worst-case scenario without any real accidents, which will increase the company's customer base.
- In 2019, L3 technologies and Harris corporation merged to form L3 Harris Technologies Inc. which offered solutions for aerospace and defences mechanism.
U.S. Driving Simulator Market Scope
The driving simulator market is segmented on the basis of type, offering, driving training simulator type, application and vehicle type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Modular Design Stimulator
- Multi-Driving Simulator Station
Offering
- Hardware
- Software
- Services
Driving Training Simulator Type
- Compact Simulator
- Full-Scale Simulator
- Advanced Simulator
Application
- Transport Authorities
- Entertainment
- Research and Training
- Schools and Universities
- Others
Vehicle Type
- Car
- Truck
- Bus
- Heavy Equipment
- Motorcycle
- Rail
- Others
Competitive Landscape and Driving Simulator Market Share Analysis
The driving simulator market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to driving simulator market.
Some of the major players operating in the driving simulator market are
- L3Harris Technologies, Inc. (U.S.)
- FAAC Incorporated. (U.S.)
- DORON PRECISION SYSTEMS, INC. (U.S.)
- Bosch Rexroth AG (Germany)
- Moog Inc. (U.S.)
- NVIDIA Corporation (U.S.)
- IPG Automotive GmbH (Germany)
- VI-grade GmbH (Germany)
- Mechanical Simulation Corporation (U.S.)
- ANSYS, Inc (U.S.)
- AVSimulation (France)
- VDI - Only in Simulation. (U.S.)
- SpaceTech GmbH (Germany)
- RFPRO (U.K.)
- Excel Driver Services, LLC. (U.S.)
- Virage Simulation (Canada)
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