The hardware in the loop market was valued at USD 480.8 Million in 2014 and is estimated to reach USD 826.7 million by 2020, expected to grow at a CAGR of 9.37% between 2015 and 2020. The base year used for this study is 2014 and the forecast period is 2015 to 2020. This report provides a detailed analysis of the hardware in the loop market based on verticals and regions. It has been estimated that the automotive sector would hold a large share of the market. However, the market in the power electronics sector is expected to grow at a high CAGR of more than 10% between 2015 and 2020. The increasing complexity in designing of embedded systems as well as testing it, and shortened time to market are the major drivers for the market. Besides this, the HIL testing technique helps in improving the output with less time & cost investment and without damaging equipment or endangering lives.

To estimate the size of the hardware in the loop market, we have considered top players in the market and their rankings in the said market. This entire research methodology includes the study of annual and financial reports of top players, presentations, press releases, journals, paid databases, and interviews with industry experts. All the percentage splits and segment breakdown of the market is based on secondary and primary research. The breakdown of profiles of primary is depicted in the below figure:

To know about the assumptions considered for the study, download the pdf brochure

Study answers several questions for the target audiences, primarily which market segments to focus in next two to five years for prioritizing the efforts and investments

The target audience:

Technology providers

HIL system designers and manufacturers

Research organizations and consulting companies

Associations, forums, and alliances related to hardware in the loop technology

Investors

Key players

Report Scope:

In this report, the hardware in the loop market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Market, by Vertical: automotive, aerospace, defense, power electronics, research & education, and others.

Market, by Geography: North America (sub-segmented into the U.S., Canada, and Mexico), Europe (sub-segmented into the U.K., Germany, France, and others), Asia-Pacific (sub-segmented into China, Japan, India, and others), and the Rest of the World (sub-segmented into Latin America and the Middle East)

Competitive Landscape: Market ranking analysis.

Company Profiles: Detailed analysis of the major companies present in the hardware in the loop market.

Available customizations:

With the given market data, MarketsandMarkets offers customizations as per a company�s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five)

The hardware in the loop market was valued at USD 480.8 million in 2014 and is expected to grow at a CAGR of 9.37% between 2015 and 2020. The growth of this market is propelled by the ability of the HIL technology to help provide high quality output with reduced time and cost. This makes it ideal for use in a wide range of applications areas such as automotive and aerospace, where time to market is an important factor for success.

Automotive followed by aerospace are leading application sectors of the hardware in the loop market. The leading position of the automotive sector can be attributed to the fact that the HIL technology is used widely by automotive companies for developing enhanced ECUs, reducing time to market, and complying with various industry standards. The hardware in the loop technique is non-destructive and time- & cost-effective; these features help drive the growth of the market in the aerospace sector. Embraer S.A. (Brazil), Honda Aircraft Company (U.S.), and Airbus Group SE (France) are some of the companies in the aerospace sector which are using HIL technique.

The hardware in the loop market for power electronics is expected to grow at a high CAGR during the forecast period. Companies in this sector are using the HIL technique in developing and testing of electronic grids, wind turbine generators, photovoltaic inverter, nuclear power plant control systems, and many more.

North America accounted for the largest share of the hardware in the loop market in 2014; the market in the region is expected to grow at a high CAGR between 2015 and 2020. The leading position of North America can be attributed to the demand from automotive and aerospace sectors in this region for the hardware in the loop technique. This is a result of the U.S. being amongst the leading automotive and aerospace manufacturers in the world.

One of the key restraining factors in the hardware in the loop market is the reluctance of manufacturers to invest in the HIL technique due to economic slowdown as manufacturers tend to cut down their expenses. There is a reluctance to do the investment as a substantial amount of investments are required in the initial stage of the HIL system procurement. The impact of this restraining factor will decrease with the time as the economy in slowdown-struck countries starts to recover.

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