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Driving Simulator Market Generated $1,525.6 Million Revenue In 2020 Finds P&S Intelligence
The driving simulator market is classified into full-scale simulator, advanced simulator, and compact simulator, depending on simulator type. Out of these, the compact simulator category dominated the market in 2020, and it is predicted to retain its market lead during the forecast period. This is ascribed to the fact that compact simulators are extensively used in off-highway and commercial vehicles. Furthermore, these simulators are more cost-effective than advanced and full-scale variants.
Globally, the Asia-Pacific (APAC) driving simulator market is predicted to demonstrate the fastest growth during the forecast period. This is attributed to the existence of strict road safety regulations in South Korea and Japan . Apart from this, the increasing number of metro cities, improving lifestyle of people, and booming population are also driving the sales of passenger cars in the region, thereby propelling the demand for driving simulators.
The driving simulator market players are increasingly focusing on product launches and technological advancements for gaining a significant position in the industry. For example, Anthony Best Dynamics Limited launched a static driving simulator for providing better driver immersion in July 2020 , due to the growing need for driver-in-the-loop (DIL) simulation for developing new vehicle models in a short period of time.
Likewise, Corys TESS launched a new feature in April 2020 for providing remote training opportunities to employees. The organized developed its new web portal for offering access to operator training simulators in various remote places in a cloud-based simulation environment.
Ansible Motion Ltd., Cruden B.V., Mechanical Simulation Corp., AutoSim AS, NVIDIA Corp., OKTAL SYDAC, MTS System Corp., Dallara Group Srl, Moog Inc., and CAE Inc. are some of the major global driving simulator market players.
The soaring popularity of connected cars is a key factor fueling the expansion of the automotive software market. The demand for automotive software market is predicted to surge sharply in the Asia-Pacific region in the coming years.
Across the globe, the demand for automotive OTA updates is predicted to surge sharply in the Asia-Pacific region in the coming years. This will be due to the implementation of strict government regulations and policies regarding the adoption of advanced safety features.
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
Prajneesh Kumar
P&S Intelligence
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