CHICAGO, March 20, 2019
CHICAGO, March 20, 2019 /PRNewswire/ -- According to the new market research report "Driving Simulator Market by Simulator Type (Driving Training Simulator & Advanced Driving Simulator (Autonomous)), Vehicle Type, Application (Research & Testing and Training), Training Simulator Type, & Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Driving Simulator Market is projected to grow from USD 1.7 billion in 2019 to reach USD 2.4 billion by 2025, at a CAGR of 6.32%.
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The growth of the Driving Simulator Market is influenced by factors such as shortage of skilled drivers, increased focus on R&D activities, and the growing safety measures for driving in Europe and North America.
European region is expected to lead the market during the forecast period
Europe is expected to be the largest global Driving Simulator Market. In Europe, Germany is estimated to be the largest driving simulation market in the region. The German automotive industry is an internationally renowned innovation hub. Approximately 70% of the world's premium cars are manufactured by German OEMs. The region's vibrant R&D landscape and technological excellence with over 100 automotive electronics-related study programs every year justify the region's dominance in the field of connectivity, vehicle electronics, and self-driving cars. Additionally, the development of the intelligent transportation system would also drive the European Driving Simulator Market.
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Advanced Driving Simulator Market is expected to grow at the fastest CAGR
The advanced driving simulator segment is expected to be the fastest global Driving Simulator Market. The advanced simulators encompass the entire structure of a real vehicle. They are generally manufactured in a dome shape and provide a 360° view for driving. The dome is assembled on a motion platform with a high degree of freedom—up to 9 degrees. Many OEMs such as Ford, Daimler, Toyota, Honda, and BMW have installed advanced driving simulators for R&D purposes.
Asia Pacific: China is expected to lead the Asia Pacific market
The Asia Pacific region is estimated to be the fastest growing market. Asia Pacific comprises emerging economies such as China and India, along with developed nations such as Japan, and is the largest market for automobiles. In recent years, the region has emerged as a hub for automobile production. Infrastructural developments and industrialization in the emerging economies have opened new avenues, creating several opportunities for automotive OEMs. In addition, the growing awareness about driving safety measures has triggered the demand for driving simulators.
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The Driving Simulator Market is dominated by the global players and comprises several regional players. The major Driving Simulator Market players are Mechanical Simulation Corporation (US), Cruden B.V. (Netherlands), ECA GROUP (France), Moog (US), and Oktal (France).
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