Driving Simulator Market Is Estimated To Reach $4 Billion By 2032 CAGR 7.4%

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driving simulator market

By simulator type, the advanced driving segment is anticipated to exhibit significant growth in driving simulator market in the near future.

The growth of the global driving simulator market is driven by the surge in demand for testing and development of autonomous vehicles, cost-effective training solutions over traditional methods” - Allied Market ResearchWILMINGTON, NEW CASTLE, DE, UNITED STATES, September 9, 2024 /EINPresswire / -- Driving Simulator gives the feeling of driving a vehicle even before starting to drive the vehicle. Training for a driving job involved a lot of time on the road or a closed track, whereas driving in a digital space with the help of driving simulator eases the process. Factors such as surge in demand of testing and development of autonomous vehicle, cost effective training solution over traditional method, and integration of AI and IoT in driving simulators boost the growth of the driving simulator market. However, high initial cost of simulators and the lack of the real-world experience are anticipated to hinder market growth. On the other hand, adoption of virtual reality (VR) and augmented reality (AR) and development of Driver-in-the-Loop (DIL) simulators provide a remarkable growth opportunity for the market players operating in the market.

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The global driving simulator market size was valued at $2 billion in 2022, and is projected to reach $4 billion by 2032, growing at a CAGR of 7.4% from 2023 to 2032.

Beyond driver education, driving simulators are used in a wide range of other contexts. They are essential to the automotive sector, notably for system evaluation and autonomous vehicle performance testing. Driving simulators are a practical way to test and validate the performance of autonomous driving systems as the automotive industry works to produce autonomous vehicles. The development of autonomous vehicles may proceed more quickly because to this economical testing strategy's huge cost reductions. Early detection of possible problems throughout the development process enables rapid modifications, saving time and money on physical prototype and testing.

The key players profiled in this report include

AB Dynamics PLC, Moog Inc., Cruden, Exail Technologies (former GROUPE GORGE), Thales, Hottinger Brel & Kjr (HBK), AVSimulation, CXC SIMULATIONS, Arotech Corporation, Tecknotrove

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Based on vehicle type, the car simulator segment held the highest market share in 2022, accounting for nearly three-fourths of the global driving simulator market size , and is estimated to maintain its leadership status throughout the forecast period, owning to increase in adoption of car simulation systems for training new drivers. However, the truck and bus simulator segment is projected to manifest the highest CAGR of 8.4% from 2023 to 2032, owing to increase in the demand of drivers for delivery and logistics services.

The development and utilization of training simulators assists the automobile industry in lowering the cost of teaching real-world drivers, as real-world training may involve the danger of crashing the car. These reasons enhance the market demand for driving simulator training simulators.

In addition, there are numerous video game simulators that provide driving experience for entertainment purposes. Dirt, Euro Truck Simulator, and Forza Motorsport are all included in the video game. The driving simulator for entertainment also includes a physical cabin rig with a steering wheel, gear shifters, and pedals that are linked to a screen where any of the video game simulations mentioned above can be performed for entertainment purposes.

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Furthermore, the influence is primarily seen in European countries. The ongoing conflict in Ukraine is having a huge influence on the European car market, compounding the industry's already difficult situation. After a difficult year defined by the pandemic and a global microprocessor shortage, there was hope for a resurgence in the European automotive market at the start of 2022. The conflict, on the other hand, has added new complexity. One significant result is a spike in European inflation, which has reached 10.60% in October 2022. This inflationary increase is the largest since the euro was introduced almost two decades ago. The rapidly rising cost of living is creating fears that it may exacerbate the already-common issue of car order delays.

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Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global driving simulator market revenue . Also, the same region is expected to witness the fastest CAGR of 8.2% from 2023 to 2032 and is likely to dominate the market during the forecast period. This is owing to the fact that emerging economies confront substantial issues like the necessity for comprehensive driver training programs due to the growing nature of the automobile sectors.

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Allied Market Research
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