Hardware-in-the-loop Market Size & Share to See Modest Growth Through 2024

Global Hardware-in-the-loop Market: Overview

Hardware-in-the-loop (HIL) technique is used to analyze complex real-time embedded systems. The HIL system provides an effective platform which for reduce the complexity of the plant and control the test platform. HIL technology offers high-quality output and reduces the cost involved and time needed. Hence, it is widely preferred in many applications such as aerospace, automotive, and others. Automotive sector adopts ECUs technology in accordance to meet various industry standards. Electronic companies use HIL technique in various applications such as nuclear power plant control systems, wind turbine generators, developing and testing of electronic grids, photovoltaic inverter, and so on.

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Global Hardware-in-the-loop Market: Growth Factors

Hardware-in-the-loop is cost-effective and time-effective technique; hence, it used in major applications in the global hardware-in-the-loop market. This, in turn, is anticipated to contribute to the growth of the global market in the future. However, huge capital investment is required for HIL system installation and lack of willingness to invest in the HIL technique owing to economic slowdown may hinder the market growth. This impact may gradually reduce in future.

Global Hardware-in-the-loop Market: Segmentation

The global hardware-in-the-loop market is segmented based on verticals as power electronics, automotive, research & education, aerospace, defense, and other. Automotive is the leading segment in the hardware-in-the-loop market. It accounted for the largest market share. However, aerospace is growing at a faster rate in the global hardware-in-the-loop market. It reduces the time and enhances workflow.

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Global Hardware-in-the-loop Market: Regional Analysis

North America accommodated for the highest market share owing to growing automotive sector for hardware-in-the-loop. The U.S. is the dominating region for hardware-in-the-loop market due to leading aerospace and automotive manufacturers in the world. Growing demand for advanced techniques in hardware-in-the-loop will further boost the market in the coming years.

Global Hardware-in-the-loop Market: Competitive Players

Some of the major players influencing the global hardware-in-the-loop market are Typhoon Hil, Inc., Airbus Group SE, Robert Bosch Engineering and Business Solutions Pvt. Ltd., National Instruments Corp., Speedgoat GmbH, Honda Aircraft Company, and Aegis Technologies Group, Inc.; Other key players in the global market are Siemens Plm Software, Inc., Embraer S.A., Dspace GmbH, Opal-RT Technologies, Inc., and Ipg Automotive GmbH.

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