NEW YORK, Feb. 22, 2016 /PRNewswire/ -- The hardware in the loop market is expected to grow at a CAGR of 9.37% between 2015 and 2020. The increasing complexity in designing of embedded systems as well as testing it, and shortened time to market are the major drivers for the hardware in the loop market. Besides this, the HIL testing technique helps in improving the output with less time & cost investment and without damaging equipment or endangering lives. This factor is also fueling the growth of the hardware in the loop market.
The market for power electronics expected to grow at the highest CAGR
The hardware in the loop market in the power electronics sector is estimated to grow at a high CAGR during the forecast period. This is mainly due to the growing awareness about the advantages of HIL and the increasing use of hardware in the loop solutions for applications such as developing and testing of electronic grids, wind turbine generators, photovoltaic inverters, nuclear power plant control systems, and many more.
APAC expected to be the fastest-growing market
The market in APAC is expected to grow at a high CAGR between 2015 and 2020. The rapid growth of the automotive industry in this region, in addition to the growth of aerospace and power electronics sectors has contributed to the growth of the hardware in the loop market in the APAC region.
Breakdown of profile of primary participants:
- By Company Type: Tier 1 - 22 %, Tier 2 - 35% and Tier 3 - 43%
- By Designation: C level - 29%, Director level - 37%, Others - 34%
- By Region: North America - 39%, Europe - 31%, APAC - 21%, RoW - 9%
Key players in the market include Vector Informatik GmbH (Germany), National Instruments Corporation (U.S.), DSpace GmbH (Germany), Typhoon HIL, Inc. (U.S.), AEgis Technologies Group, Inc. (U.S.), Opal-RT Technologies, Inc. (Canada), Siemens PLM Software, Inc. (U.S.), Robert Bosch Engineering and Business Solutions Private Limited (India), IPG Automotive GmbH (Germany), and Speedgoat GmbH (Switzerland) among others.
Reasons to Buy the Report:
- This report includes the market statistics pertaining to vertical, and geography along with their respective revenue.
- The Porter's five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the hardware in the loop market.
- Major drivers, restraints, challenges, and opportunities for the hardware in the loop market have been detailed in this report.
- Illustrative segmentation, analysis, and forecast for markets based on vertical, and geography has been conducted to give an overall view of the hardware in the loop market.
- A detailed competitive landscape includes key players, in-depth analysis, and revenue of key players.
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