DUBLIN, December 11, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/f2mzgf/hardware_in_the) has announced the addition of the "Hardware in the loop Market by Vertical (Automotive, Aerospace, Defense, Power Electronics, Research & Education & others) and by Geography (North America, Europe, Asia-Pacific, and RoW) - Global Forecast to 2020" report to their offering.
The hardware in the loop market was valued at USD 480.8 million in 2014 and is expected to grow at a CAGR of 9.37% between 2015 and 2020
The growth of this market is propelled by the ability of the HIL technology to help provide high quality output with reduced time and cost. This makes it ideal for use in a wide range of applications areas such as automotive and aerospace, where time to market is an important factor for success.
Automotive followed by aerospace are leading application sectors of the hardware in the loop market. The leading position of the automotive sector can be attributed to the fact that the HIL technology is used widely by automotive companies for developing enhanced ECUs, reducing time to market, and complying with various industry standards. The hardware in the loop technique is non-destructive and time- & cost-effective; these features help drive the growth of the hardware in the loop market in the aerospace sector. Embraer S.A. (Brazil), Honda Aircraft Company (U.S.), and Airbus Group SE (France) are some of the companies in the aerospace sector which are using HIL technique.
The market for power electronics is expected to grow at a high CAGR during the forecast period. Companies in this sector are using the HIL technique in developing and testing of electronic grids, wind turbine generators, photovoltaic inverter, nuclear power plant control systems, and many more.
North America accounted for the largest share of the hardware in the loop market in 2014; the market in the region is expected to grow at a high CAGR between 2015 and 2020. The leading position of North America can be attributed to the demand from automotive and aerospace sectors in this region for the hardware in the loop technique. This is a result of the U.S. being amongst the leading automotive and aerospace manufacturers in the world.
One of the key restraining factors in the hardware in the loop market is the reluctance of manufacturers to invest in the HIL technique due to economic slowdown as manufacturers tend to cut down their expenses. There is a reluctance to do the investment as a substantial amount of investments are required in the initial stage of the HIL system procurement. The impact of this restraining factor will decrease with the time as the economy in slowdown-struck countries starts to recover.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Hardware in the Loop Market, By Vertical
8 Hardware in the Loop Market, By Geography
9 Competitive Landscape
10 Company Profiles
- Aegis Technologies Group, Inc.
- Dspace GmbH
- Ipg Automotive GmbH
- National Instruments Corp.
- Opal-RT Technologies, Inc.
- Robert Bosch Engineering and Business Solutions Pvt. Ltd.
- Siemens Plm Software, Inc.
- Speedgoat GmbH
- Typhoon Hil, Inc.
For more information visit http://www.researchandmarkets.com/research/f2mzgf/hardware_in_the
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SOURCE Research and Markets