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Global Hardware in the Loop Market Size, Share, Growth: By Product Type: Open Loop HIL, Closed Loop HIL; By Industry Vertical: Defence, Aerospace, Automotive, Power Electronics, Research and Education, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Global Hardware in the Loop Market Outlook
The global hardware in the loop market attained about USD 859.32 million in 2023. The market is expected to grow at a CAGR of 6% in the forecast period of 2024-2032, to attain nearly USD 1448.88 million by 2032.
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.
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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: Market 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.
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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.
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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 market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Industry Vertical |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| 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. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR 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 Opportunities and Challenges in the Market
8 Global Hardware in the Loop Market Analysis
8.1 Key Industry Highlights
8.2 Global Hardware in the Loop Historical Market (2018-2023)
8.3 Global Hardware in the Loop Market Forecast (2024-2032)
8.4 Global Hardware in the Loop Market by Product Type
8.4.1 Open Loop HIL
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Closed Loop HIL
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Hardware in the Loop Market by Industry Vertical
8.5.1 Defence
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Aerospace
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Automotive
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Power Electronics
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Research and Education
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Others
8.6 Global Hardware in the Loop Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Hardware in the Loop Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Hardware in the Loop Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Hardware in the Loop Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Hardware in the Loop Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Hardware in the Loop Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Robert Bosch Engineering and Business Solutions Private Limited
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Seimens Aktiengesellschaft
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 IPG Automotive GmbH
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 dSPACE GmbH
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Speedgoat GmbH
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 NATIONAL INSTRUMENTS CORP.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Hardware in the Loop Market: Key Industry Highlights, 2018 and 2032
2. Global Hardware in the Loop Historical Market: Breakup by Product Type (USD Million), 2018-2023
3. Global Hardware in the Loop Market Forecast: Breakup by Product Type (USD Million), 2024-2032
4. Global Hardware in the Loop Historical Market: Breakup by Industry Vertical (USD Million), 2018-2023
5. Global Hardware in the Loop Market Forecast: Breakup by Industry Vertical (USD Million), 2024-2032
6. Global Hardware in the Loop Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Hardware in the Loop Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Hardware in the Loop Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Hardware in the Loop Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Hardware in the Loop Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Hardware in the Loop Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Hardware in the Loop Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Hardware in the Loop Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Hardware in the Loop Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Hardware in the Loop Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Hardware in the Loop Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Hardware in the Loop Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Global Hardware in the Loop Market Structure
Key Questions Answered in the Report
In 2023, the global hardware in the loop market attained a volume of nearly USD 859.32 million.
The market is estimated to grow at a CAGR of 6% between 2024 and 2032.
The major market drivers include the growing expansion of the major HIL technology providers in emerging economies, the rising demand for heavy machinery towards infrastructure development, and the growing demand for HIL technology in the electronic sector.
The key trends guiding the market include rapid urbanisation, the rising government expenditure towards research and education, technological advancements, and the robust growth of the automotive, defence, and aerospace sectors.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major product types considered in the market report are open loop HIL and closed loop HIL.
The various industry verticals of hardware in the loop are defence, aerospace, automotive, power electronics, and research and education, among others.
The major players in the market are Robert Bosch Engineering and Business Solutions Private Limited, Seimens Aktiengesellschaft, IPG Automotive GmbH, dSPACE GmbH, Speedgoat GmbH, and NATIONAL INSTRUMENTS CORP., among others.
Analyst Review
The global hardware in the loop market attained a value of USD 859.32 million in 2023, driven by the rising application of the HIL technology in the automotive industry. Aided by the rising investments in the defence industry and rapid technological advancements, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 6%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on product type, the market is divided into open loop HIL and closed loop HIL. By industry vertical, the market is divided into defence, aerospace, automotive, power electronics, and research and education, among others. The major regional markets for hardware in the loop are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Robert Bosch Engineering and Business Solutions Private Limited, Seimens Aktiengesellschaft, IPG Automotive GmbH, dSPACE GmbH, Speedgoat GmbH, and NATIONAL INSTRUMENTS CORP., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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