Driving Simulator Market Worth $6.1 Billion By 2027 | CAGR: 3.4% | Grand View Research, Inc.

August 06 05:50 2020
Driving Simulator Market Worth $6.1 Billion By 2027 | CAGR: 3.4% | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report by Grand View Research, Inc., The global driving simulator market size was valued at USD 4.6 billion in 2019 and is expected to expand at a CAGR of 3.4% over the forecast period. Evolution of autonomous vehicles across the globe is considered to be a predominant factor responsible for the growth of the market during the forecast period.

The global driving simulator market is anticipated to witness a CAGR of 3.4%, according to a new report by Grand View Research, Inc. Development of autonomous vehicles in developed countries and changing landscape of vehicular industry is likely to enhance the market growth in the near future. In addition, the use of advanced driver assistance systems(ADAS) is much likely to propel the market growth.

Virtual driving simulators is comprised of static and dynamic objects. Static objects include road, trees, buildings while dynamic variables include moving objects such as people, crowd, cars, etc. The entire scenario is designed for the learner to grasp the real-time scenarios and improvise during simulation sessions. Commercially, the demand for vehicle testing in the real-time environment helps the manufacturers to assess the performance of autonomous vehicles. AI technology in the automotive industry has gained a huge traction in the past few years wherein 3D simulation techniques are used for driving lessons. This results in effective learning for learners.

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Covid-19 Effect:

Amid the ongoing worldwide pandemic, France based automotive simulation company, Avehil has undertaken complete precautionary measures to fully restart their operations with stringent safety against the spread of coronavirus. In a release, it stated that they will now have automotive simulation mechanisms under proper isolation facilities for every user followed by frequent sanitization with UV-C lamps after every session.

Further key findings from the report suggest:

l  The compact driving simulator segment is dominant in terms of revenue in 2019 and is expected to lead the market in the forecast period. Large vehicles with compact features are gaining traction in the commercial market. Therefore, 3D compact simulators would have a huge stake in the autonomous vehicle category

l  Advanced driving simulator is expected to gain a robust growth in the forecast period based on the technological advances such as advanced platform, 360o viewing angle, and real-time experience

l  Automotive segment accounted for a significant share in 2019 owing to increased demand for passenger and commercial vehicles throughout the globe

l  Europe held a huge dominance in 2019 and is expected to retain a huge market share in the near future. The European automotive industry is driven by prominent manufacturers having integrated systems technology and infrastructure

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Major Key Players:

L3 Technologies

Bosch Rexroth AG

Anthony Best Dynamics Limited

CAE Inc;

Thales Group

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Driving simulator acts as a training platform for training new as well as experienced drivers for commercial and project-oriented purposes. These machines are used for providing driving lessons ranging from basic to expert levels. Moreover, they help the trainers and the researchers in determining the behaviour patterns of the drivers under several unavoidable circumstances, including sudden braking.

Furthermore, simulators are used across various platforms in the aviation industry to train pilots of commercial aircrafts and helicopters and military aircrafts. These machines are also gaining momentum in the motorsports and gaming industry. Car and bike simulators are increasingly used in gaming zones and arenas as well as amusement parks. They enable higher player engagement in the game, thereby increasing their popularity globally.

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Some Recent Developments:

l  The Driving and Simulation Conference, DSC, is expected to happen in Antibes, France and most likely to be held in the second week of September 2020. It invites simulation specialists, commercial simulation providers from academic and industrial domain. Participants from all over the world would get a a chance to view new product releases and keynote speakers would deliver upon state-of-the-art development, research and development and progress in the virtual reality

l  In June 2020, Formula 1 simulator from CXC simulations won the magazine choice award for the driving simulator. Formula 1 simulator uses various features such as full motion, and several modules of virtual reality. Adding to its reputation, CXC has designed and completed customized simulation models for private customers

l  In July 2020, aVDS-S static driving simulator introduced a new product in the automotive technology market that would enable new avenues for the company’s growth leading to consistent results. The product also leads in achieving optimized results and testing complex ADAS scenario

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

 

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