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Automotive Driving Simulator Market to Surpass US$ 155.1 Million by 2025(September 12, 2018)
The global automotive driving simulator market was valued at US$ 123.5 million in 2017, which was US$ 120.3 million in 2016. By 2025, it is projected to reach US$ 155.1 million with a CAGR of 2.9% over the forecast period(2017 – 2025), according to Global Automotive Driving Simulator Market Report, by Product Type (Car Simulator, Truck Simulator, and Others), by Application (Research, Training, and Entertainment), and by Region (North America, Europe, Asia Pacific, Latin America Middle East, and Africa).
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Increasing innovation of autonomous vehicles is one of the major factors driving growth of the automotive driving simulator market. For instance, in 2017, Toyota Research Institute and the Computer Vision in Barcelona, Spain launched an open-source driving simulator named CARLA (Car Learning Act), which can be used by car manufacturers to test self-driving technologies under realistic driving conditions, thereby eliminating risks such as car crashes, extreme weather conditions, and others on road test. CARLA simulates a wide range of driving conditions and repeats dangerous situations endlessly. Furthermore, CARLA provides control over the vehicle in extreme weather conditions and based on the behavior of other vehicles, traffic signals, and others. Hence, increasing innovation of simulators for autonomous cars have accelerated growth of car simulator segment in the global automotive driving simulator market. According to Coherent Market Insights, car simulator segment held the dominant position in 2017 and is expected to exhibit the highest CAGR over the forecast period. In 2017, the car simulator segment generated a revenue of US$ 67.6 Mn and is expected to reach US$ 86.4 Mn by 2025, with a CAGR of 3.1% over the forecast period.
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Key Takeaways of the Market:
- Asia Pacific is expected to exhibit the highest CAGR over the forecast period. In 2017, Asia Pacific automotive driving simulator market generated a revenue of US$ 20.0 million and is projected to reach US$ 26.2 million at a CAGR of 3.5% over the forecast period. China, India, and Japan are some of the major economies driving growth of the market in this region. Opening of large number of driving schools across the region is another factor fueling growth of the market. Government regulations regarding use of simulators by driving schools to train amateur drivers as a prerequisite before they drive through real-time traffic is increasing purchase of automotive driving simulators. For instance, in June 2017, Toyota Kirloskar Motor announced that its plans to launch 50 driving schools in India by mid-2018. The first such driving school has been launched near the National capital region of New Delhi. India market is expected to witness highest CAGR over the forecast period. In 2017, India automotive driving simulator market generated a revenue of US$ 4.2 Mn and is expected to reach US$ 5.7 Mn by 2025, witnessing a CAGR of 3.9% over the forecast period.
- Among application, the entertainment segment is expected to exhibit the highest CAGR over the forecast period. In 2017, the entertainment segment generated a revenue of US$ 13.2 Mn and is expected to reach US$ 17.2 Mn by 2025, with a CAGR of 3.4% over the forecast period. Rising adoption of driving simulators in gaming industry plays a major role in growth of the segment in the market. Increasing advancement in processors and graphics have raised adoption of driving simulators in games, globally. Dirt Rally, Forza Horizon 3, Shift 2, Injection, Assetto Corsa, and iRacing are some of the racing simulation games. Furthermore, increasing trend of online games with advanced graphics is one of the major factors increasing the demand for driving simulators.
- The major players operating in the global automotive driving simulator market include AutoSim AS, Teknotrove Simulator System Pvt. Ltd, OKTAL, Cruden B.V., Mechanical Simulation Corporation, Dallara, Moog, Inc., IPG Automotive, ECA- Group, and Ansible Motion
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