Driving Simulator Market Size To Advance At 3.4% CAGR By 2027, Owing To Emergence of ADAS in Automobile and Rising Focus on R&D To Build Vehicles with Advanced Features | Million Insights
FELTON, Calif., Jan. 20, 2021 -- The global driving simulator market size is projected to be USD 6.1 billion by 2027, as estimated by Million Insights in its new report. It is further estimated that the market would witness 3.4% CAGR from 2020 to 2027. The emergence of ADAS in automobile and growing focus on research and development to build vehicles with advanced features are driving the demand for the market. Driving simulators helps in evaluating the performance of the vehicles in real-time under a controlled environment. Further, the advent of autonomous vehicles is supplementing the market growth.
These simulators help in training the new recruits and enhancing the skills of experienced operators in industries such as automobile, marine and aviation. Driving simulators are capable of offering driving lessons from basics to advance. Under this, drivers get exposure to various challenges that they might face during real-time driving. Thus, these methods help in ensuring passenger safety.
In the aviation sector, the simulators are used to train pilots of commercial aircraft, military aircraft and helicopters. In addition, simulators are gaining traction in various other industries such as gaming and motorsports. In amusement parks, bikes and cars driving simulators are increasingly used. These simulators make users more engaging.
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Europe accounted for the largest share in the driving simulator market seconded by North America. Matured automobile industry owing to the presence of several leading manufacturers is attributing to the growth of the region. On the other hand, APAC is likely to register the highest CAGR over the forecast years.
Further key findings from the report suggest:
- In 2019, the full-scale simulators accounted for nearly 41% of share in the market owing to its cost-effective nature.
- Based on the application, the research and testing category held the largest share in the market and projected to witness the fastest CAGR over the forecast duration.
- Aviation category dominated the market among different end-users in 2019, primarily because of the rapid rise in air traffic.
- Europe dominated the market in 2019 owing to increasing demand from the automobile industry.
Browse 80 page research report with TOC on "Global Driving Simulator Market" at: https://www.millioninsights.com/industry-reports/global-driving-simulator-market
Million Insights has segmented the global driving simulator market on the basis of simulator type, application, end use and region:
- Driving Simulator Type Outlook (Revenue, USD Million, 2016 - 2027
- Compact
- Full-scale
- Advanced
- Driving Simulator Application Outlook (Revenue, USD Million, 2016 - 2027)
- Research & Testing
- Training
- Motor Sports & Gaming
- Driving Simulator End-use Outlook (Revenue, USD Million, 2016 - 2027)
- Automotive
- Marine
- Aviation
- Driving Simulator Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S
- Canada
- Europe
- U.K.
- German
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Middle East & Africa (MEA)
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