The global hardware loop market is expected to grow from USD 730.47 million in 2018 to USD 1,674.44 million by 2026 at a CAGR of 11.64% during the forecast period from 2018-2026.
Global hardware loop market is expected to reach USD 1,674.44 million by 2026, at a CAGR of 11.64% from 2018 to 2026. Hardware-in-the-loop (HIL) is a simulation system which is used in development and test of complex real-time embedded systems. Also, these systems provide simulation of the physical part of a machine or system. The machine or physical part of the system is connected with the control system, through actuators and sensors, where the simulation replicates the exact copy of actual hardware interconnection. The power electronics application is projected to grow at a high CAGR during the forecast period. Automotive followed by aerospace are leading application sectors of the hardware in the loop market. Hence, wide adoption by automotive vendors of HIL technology for developing enhanced ECUs, reducing time to market, and complying with various industry standards leverage the demand for market during the projected period.
The increasing complexity in designing of embedded systems as well as testing it, is the major factor driving the market growth. Additionally, the HIL testing technique is generally used in automotive companies which helps in improving the output with less time & cost investment and without damaging equipment or endangering lives also propels the demand for hardware loop market. However, investment of additional cost for dedicated HIL hardware and software hinders the market growth during the forecast period. Additionally, high adoption rate in wide range of applications such as power and industrial robotics, holds promising opportunity which helps to accelerate the growth of the market during the forecast period.
The major key Vendors includes in the hardware loop market are DdSpace GmbH, National Instruments, Vector Informatik, Siemens, Robert Bosch Engineering, Ipg Automotive GmbH, MicroNova AG, Opal-RT Technologies, LHP Engineering Solutions, Typhoon HIL, Speedgoat GmbH, Modeling Tech, Eontronix, Wineman Technology