According to a new report Global Driving Simulator Market, published by KBV research, The Global Driving Simulator Market size is expected to reach $5.8 billion by 2026, rising at a market growth of 8.1% CAGR during the forecast period. The market has been witnessing a gradual growth, mainly due to the increasing demand for safety and features. This has resulted in enormous innovations and R&D efforts by both the OEMs and other players in increasingly using advanced driving simulators for vehicle research & development to improve efficiency.
The key factors driving the growth of the compact simulator market are the compact size and shape compared with other simulators and the low cost of small simulators. The Advanced market is expected to witness CAGR of 9.6% during (2020 - 2026).
The Research & Testing market dominated the Global Driving Simulator Market by Application 2019, growing at a CAGR of 7.3 % during the forecast period. The Training market is experiencing a CAGR of 7.9% during (2020 - 2026). Additionally, The Motor Sports & Gaming market is expected to witness CAGR of 11.6% during (2020 - 2026).
Europe is the hub of innovation for the automotive industry, since most of the premium vehicles are produced in the region. In addition, growing investment in R&D activities and stringent driving safety standards are expected to boost driving simulator demand on the European market. Therefore, Europe is expected to lead the market for driving simulators followed by the Asia Pacific. Due to the presence of top developing countries, such as India and China, the driving simulator market is estimated to be most profitable in the Asia Pacific. North America's increasing development of driving simulator, estimated to be one of the dominating regions in the driving simulator market over the forecast period.
Structural Insights: https://www.kbvresearch.com/driving-simulator-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Moog, Inc., CAE, Inc., Nvidia Corporation, MTS Systems Corporation, AutoSim AS, IPG Automotive GmbH, Virage Simulation, Inc., Ansible Motion Ltd., Cruden B.V., CXC Simulations.
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