Driving Training Simulator Market Size to Hit $ 2.64 Billion, Globally, by 2028 | Exclusive Report by The Insight Partners
Driving Training Simulator Market is growing at a CAGR of 4.6% from 2022 to 2028.
Pune, India, Nov. 01, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Driving Training Simulator Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Simulator Type (Compact Simulator and Full-Scale Simulator), Vehicle Type (Car Simulator, Truck and Bus Driving Simulator, and Others), End User (Driving Training Center, Automotive OEM, and Others), and Geography,” the market share is projected to reach US$ 2.64 billion by 2028 from US$ 1.95 billion in 2021; the market is estimated to grow at a CAGR of 4.6% from 2022 to 2028.
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Driving Training Simulator Market: Simulator Type Overview
Based on simulator type, the driving training simulator market is bifurcated into compact simulator and full-scale simulator.
Driving Training Simulator Market: Competitive Landscape and Key Developments
Autosim AS, Cruden B. V., Dallara, ECA GROUP, IPG Automotive GmbH, Moog Inc., NVIDIA Corporation, Tecknotrove, and VI-grade GmbH are among the key players in the driving training simulator market. The leading companies are focusing on expanding and diversifying their market presence and acquiring a new customer base, thereby tapping prevailing business opportunities.
In January 2022, VI-grade—the simulation and driving simulator company that accelerates product innovation by bridging the gap between simulation and physical testing—and Stackpole Engineering Services, a leading full-service provider of engineering solutions to tire and vehicle OEMs and suppliers, announced their strategic partnership. This partnership will significantly advance the companies' research and development efforts in the areas of tire testing, tire modeling, and simulation application.
Global Driving Training Simulator Market Scope:
Market Size Value in USD 1.95 Billion in 2021
Market Size Value by USD 2.64 Billion by 2028
Growth rate CAGR of 4.6% from 2022 to 2028
Forecast Period 2022-2028
Base Year 2021
Segments covered Simulator Type, Vehicle Type, End User
Regional scope North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America.
Country scope Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Driving training simulators are frequently used to train drivers globally. On these training simulators, a trainee can practice all the driving circumstances that might arise while driving. Driving in traffic or on any highway can be practiced. Users learn how much to turn the steering wheel or how much to apply the brakes.
There is a rise in demand for professional drivers due to increased traffic accidents, air traffic, upcoming high-speed train projects, and considerable R&D investments in autonomous cars. This, in turn, fuels the market's growth in developed and developing nations. Expansion of airports and air traffic projects around the globe, simulators for police and emergency vehicles, and the rapid development of autonomous and semiautonomous cars are anticipated to boost the market's growth during the forecast period. However, challenges in real-time control, the lack of norms and standards, and the integration's complexity could hinder the development of the driving training simulator market.
For various stages of vehicle testing, driving training simulators are becoming increasingly popular in the automotive and related industries. Engineers and researchers are currently utilizing this technology to get a realistic impression of a vehicle's overall performance in a virtual environment, assisting in bettering vehicle design and system performance. Flight simulators are also utilized in the military and aviation industries to train pilots to operate both civilian and armed forces aircraft.
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Integration of Virtual Reality in Driving Simulators
A driving simulator is a technology that provides a realistic driving experience in a virtual environment. Virtual reality driver training has proven to teach drivers specific skills using a fully immersive climate only VR can offer. For instance, in 2022, Alstom developed a VR-based simulator primarily to enable drivers and crew to receive training on operating a new rolling stock product, whether on an existing, modified, or new transportation system. Training many people quickly, especially when the product may not yet be accessible, is difficult for both customers and operators. This is made possible safely using a driving simulator. One can use a simulator to show any product or train system's safety.
Furthermore, in 2021, the debut of Apex Officer Drive—a virtual reality driving simulator for police and law enforcement organizations—was announced by Apex Officer, the top supplier of training simulators for law enforcement, the military, and first responders. The philosophy and principles of defensive driving in emergency and non-emergency circumstances are emphasized in Apex Officer's EVOC and police driving simulators to improve vehicle safety operations.
Thus, the integration of VR in driving training simulators is projected to emerge as the most notable future trend in the driving training simulator market over the forecast period.
Impact of COVID-19 Pandemic on Driving Training Simulator Market
In April and May 2020, the European exports and imports of electronic components and other automotive components decreased due to the COVID-19 pandemic. The automotive sector was hit hard. OEMs announced further delays in the production of auto parts, such as steering wheels and brake pedals, and vehicle sales plummeted in the region. In 2020, vehicle production in Europe dropped by more than one-fifth compared to 2019, according to an IMF report. The auto sector was challenged by the rising demand for semiconductors due to a rise in the production of electronic parts and supply chain disruptions. All these factors disturbed the driving training simulator market in Europe. Nevertheless, people leveraged on to driving simulation for educational and entertainment purposes, which balanced the market growth to some extent.
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