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Global Hardware in the Loop Market: By Product Type: Open Loop HIL, Closed Loop HIL; By Industry Vertical: Defence, Aerospace, Automotive, Power Electronics, Research and Education, Others; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments
Global Hardware in the Loop Market Outlook
The global hardware in the loop market attained about USD 721.5 million in 2020. The market is expected to grow at a CAGR of 6% in the forecast period of 2022-2027, to attain nearly USD 1,021.4 million by 2026.
The Significant Growth of the Open Loop HIL Segment to Bolster the Growth of the Hardware in the Loop Industry
Based on product type, the open loop HIL segment accounts for a significant share in the market and is anticipated to witness healthy growth in the forecast period. The open loop HIL is less complex in terms of use and provides stable operation. It is significantly cheaper than the closed loop HIL. Apart from being easy to construct and convenient to use, this segment is easy to maintain too. Over the forecast period, the growing demand for the open-loop HIL in the household equipment, such as washing machine, electric bulb, electric hand drier, and bread toaster, among others, is likely to augment the market growth.
The North America Accounts for a Significant Share in the Market
The hardware in the loop industry in North America is driven by the growing investments towards the expansion of the real-time embedded systems in the United States of America and Canada. The market in the region is anticipated to be augmented by the rising demand for heavy machinery and large-sized equipment, owing to the rapid urbanisation and technological advancements in the infrastructure. The market in the region is further expected to be aided by the rising government expenditure towards research and education.
Hardware in the Loop: Industry Definition and Segmentation
Hardware in the loop is defined as the technique which is used in the testing of real-time embedded systems. The hardware in the loop provides a way of simulating sensors, actuators and various mechanical components.
Based on product type, the market is segmented into:
- Open Loop HIL
- Closed Loop HIL
The major industry verticals of the hardware in the loop market include:
- Defence
- Aerospace
- Automotive
- Power Electronics
- Research and Education
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The Rising Application of HIL Technology in Various Sectors to Boost the Growth of the Hardware in the Loop Industry
The global hardware in the loop industry is driven by the thriving automotive and aerospace and defence industry. Hardware in the loop is a crucial component for the development of ECUs in the automotive industry. Hence, the growing adoption of ECU by the automotive industry, in order to meet various industry standards is likely to propel the demand for hardware in the loop. Over the forecast period, the growing demand for HIL technology from the electronic companies, for various applications, such as nuclear power plants, chassis systems, wind turbine generators, developing and testing of electronic grids, and photovoltaic inverters, among others, is likely to augment the growth of the market. The market is further expected to be aided by the growing expansion of the major market players in the developing economies of the world.
Key Industry Players in the Global Hardware in the Loop Market
The report gives a detailed analysis of the following key players in the global hardware in the loop market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Robert Bosch Engineering and Business Solutions Private Limited
- Seimens Aktiengesellschaft
- IPG Automotive GmbH
- dSPACE GmbH
- Speedgoat GmbH
- NATIONAL INSTRUMENTS CORP.
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2021 |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product Type, Industry Vertical, Region |
| Breakup by Product Type | Open Loop HIL, Closed Loop HIL |
| Breakup by Industry Vertical | Defence, Aerospace, Automotive, Power Electronics, Research and Education, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Robert Bosch Engineering and Business Solutions Private Limited, Seimens Aktiengesellschaft, IPG Automotive GmbH, dSPACE GmbH, Speedgoat GmbH, NATIONAL INSTRUMENTS CORP., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Hardware in the Loop Market Analysis
8.1 Key Industry Highlights
8.2 Global Hardware in the Loop Historical Market (2017-2021)
8.3 Global Hardware in the Loop Market Forecast (2022-2027)
8.4 Global Hardware in the Loop Market by Product Type
8.4.1 Open Loop HIL
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 Closed Loop HIL
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.5 Global Hardware in the Loop Market by Industry Vertical
8.5.1 Defence
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 Aerospace
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.5.3 Automotive
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2017-2021)
8.5.3.3 Forecast Trend (2022-2027)
8.5.4 Power Electronics
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2017-2021)
8.5.4.3 Forecast Trend (2022-2027)
8.5.5 Research and Education
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2017-2021)
8.5.5.3 Forecast Trend (2022-2027)
8.5.6 Others
8.6 Global Hardware in the Loop Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Robert Bosch Engineering and Business Solutions Private Limited
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Seimens Aktiengesellschaft
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 IPG Automotive GmbH
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 dSPACE GmbH
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Speedgoat GmbH
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 NATIONAL INSTRUMENTS CORP.
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Others
13 Industry Events and Developments
List of Figures and Tables
1. Global Hardware in the Loop Market: Key Industry Highlights, 2016 and 2026
2. Global Hardware in the Loop Historical Market: Breakup by Product Type (USD Million), 2017-2021
3. Global Hardware in the Loop Market Forecast: Breakup by Product Type (USD Million), 2022-2027
4. Global Hardware in the Loop Historical Market: Breakup by Industry Vertical (USD Million), 2017-2021
5. Global Hardware in the Loop Market Forecast: Breakup by Industry Vertical (USD Million), 2022-2027
6. Global Hardware in the Loop Historical Market: Breakup by Region (USD Million), 2017-2021
7. Global Hardware in the Loop Market Forecast: Breakup by Region (USD Million), 2022-2027
8. North America Hardware in the Loop Historical Market: Breakup by Country (USD Million), 2017-2021
9. North America Hardware in the Loop Market Forecast: Breakup by Country (USD Million), 2022-2027
10. Europe Hardware in the Loop Historical Market: Breakup by Country (USD Million), 2017-2021
11. Europe Hardware in the Loop Market Forecast: Breakup by Country (USD Million), 2022-2027
12. Asia Pacific Hardware in the Loop Historical Market: Breakup by Country (USD Million), 2017-2021
13. Asia Pacific Hardware in the Loop Market Forecast: Breakup by Country (USD Million), 2022-2027
14. Latin America Hardware in the Loop Historical Market: Breakup by Country (USD Million), 2017-2021
15. Latin America Hardware in the Loop Market Forecast: Breakup by Country (USD Million), 2022-2027
16. Middle East and Africa Hardware in the Loop Historical Market: Breakup by Country (USD Million), 2017-2021
17. Middle East and Africa Hardware in the Loop Market Forecast: Breakup by Country (USD Million), 2022-2027
18. Global Hardware in the Loop Market Structure
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