Global Driving Training Simulator Market Forecast to 2028 - Featuring ECA, IPG Automotive, Moog and NVIDIA Among Others - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Driving Training Simulator Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Simulator Type, Vehicle Type and End User" report has been added to ResearchAndMarkets.com's offering.

The driving training simulator market is expected to grow from US$ 1,950.00 million in 2021 to US$ 2,646.73 million by 2028. It is estimated to grow at a CAGR of 4.6% from 2022 to 2028.

The growing demand for simulation for the training of autonomous vehicles and the rising adoption of simulators in police and emergency vehicles are expected to boost the market growth. The driving simulator is also made compulsory in driving training schools in some countries.

These initiatives are anticipated to increase the need for driving training simulators over the forecast period. The driving training simulator helps the learner to adapt better to road situations and safe driving habits. For example, in December 2019, Singapore made it mandatory for learners to complete driving simulator training modules. Thus, the growing utility of driving simulators in driving schools is expected to fuel regional market growth.

The rising adoption of driving simulators for vehicle testing and training novice drivers is driving their demand in Europe. Several top players in the automotive industry are investing in developing driving simulators. For instance, in 2019, Honda R&D Europe has invested in R&D and developed driving simulator technology. This new state driving simulator technology is based on an architecture called DiM250 (Driver-in-Motion).

The new simulator technology is installed at Honda R&D Europe's technical center in Offenbach, Germany. The DiM250 system is designed by simulator software developer VI-grade GmbH and is manufactured and engineered by automatic controls specialist Saginomiya.

Similarly, in 2022, VI-grade, the simulation and driving simulator company that accelerates product innovation by bridging the gap between simulation and physical testing, and Stackpole Engineering Services, a leading full-service provider of engineering solutions to tire and vehicle OEM's and suppliers, today announced their strategic partnership, that will significantly advance the companies' research and development efforts in the areas of tire testing, tire modeling and simulation application. Such initiatives are contributing to market growth.

The Europe driving training simulator market is expected to witness substantial growth over the forecast period. Every year, various car-racing sports, such as Formula 1, Nascar, and IndyCar, are hosted in European countries. These events are expected to attract development and innovations in the driving training simulator market.

In addition to the growing trend of autonomous vehicles, self-driving vehicles are gaining traction in the Chinese market. There are plenty of autonomous driving vehicles tested on the roads of Shenzhen recently by the companies such as Pony.ai, Baidu, DeepRoute, and AutoX.

Thus, the rising trend of autonomous vehicles is anticipated to influence market growth. Furthermore, supportive government initiatives and development in the automotive sector are expected to play a vital role in the driving training simulator market. For instance, the Australian government is investing around US$ 17 million over the next five years in a Keys2Drive program that utilizes simulators as part of its training program.

The driving training simulator market is mainly dominated by players such as Autosim AS, Bosch Rexroth AG, Cruden B.V., DALLARA, and ECA Group. Further, these players expand their business through new product launches, market initiatives, investment in technology upgrades, mergers & acquisitions, and other joint activities.

For instance, in 2022, VI-grade - the simulation and driving simulator company that accelerates product innovation by bridging the gap between simulation and physical testing, and Stackpole Engineering Services, a leading full-service provider of engineering solutions to tire and vehicle OEMs and suppliers, announced their strategic partnership, which will significantly advance the companies' research and development efforts in the areas of tire testing, tire modeling, and simulation application.

Market players are implementing various strategies to expand their regional footprints. For example, in 2020, IPG Automotive GmbH opened a new office in Stuttgart, Germany, to offer the customers and partners even broader and more direct support for their projects.

Market Dynamics

Drivers

• Increasing Need for Skilled Driver and Driving Safety Precautions
• Simulation for Training Autonomous Vehicle Driving Systems Algorithm

Restraints

• Complexities in Real-Time Control

Opportunities

• Adoption of Simulator for Police and Emergency Vehicles

Future Trends

• Integration of Virtual Reality in Driving Training Simulators

Companies Mentioned

• Autosim AS
• Bosch Rexroth AG
• Cruden B. V.
• Dallara
• ECA GROUP
• IPG Automotive GmbH
• Moog Inc.
• NVIDIA Corporation
• Tecknotrove
• VI-grade GmbH

For more information about this report visit https://www.researchandmarkets.com/r/kmenf4