Driving Simulator Market Size Worth $2.5+ Bn, Globally, by 2028 at 4.6% CAGR - Increasing Need for Skilled Driver and Driving Safety Precautions, Simulation for Training Autonomous Vehicle Driving Systems Algorithm | The Insight Partners

NEW YORK, Oct. 11, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Driving Simulator Market Size, Share, Revenue, Growth Strategy, Industry Trends and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Simulator Type, Vehicle Type, End User, and Geography," the global driving simulator market size is projected to reach USD 2.64 billion by 2028 from USD 1.95 billion in 2021; it is estimated to grow at a CAGR of 4.6% from 2022 to 2028.

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Global Driving Simulator Market Report Scope, Segmentations, Regional & Country Scope:

Browse key market insights spread across 174 pages with 83 list of tables & 82 list of figures from the report, "Driving Training Simulator Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Simulator Type (Compact Simulator and Full-Scale Simulator), Vehicle Type (Car Simulator, Truck and Bus Driving Simulator, and Others), End User (Driving Training Center, Automotive OEM, and Others)" in detail along with the table of contents: https://www.theinsightpartners.com/reports/driving-training-simulator-market

Global Driving Simulator Market: Competitive Landscape and Key Developments

Autosim AS, Cruden B. V., Dallara, ECA GROUP, IPG Automotive GmbH, Moog Inc., NVIDIA Corporation, Tecknotrove, and VI-grade GmbH are among the key players in the driving training simulator market. The leading companies are focusing on expanding and diversifying their market presence and acquiring a new customer base, thereby tapping prevailing business opportunities.

In January 2022, VI-grade—the simulation and driving simulator company that accelerates product innovation by bridging the gap between simulation and physical testing—and Stackpole Engineering Services, a leading full-service provider of engineering solutions to tire and vehicle OEMs and suppliers, announced their strategic partnership. This partnership will significantly advance the companies' research and development efforts in the areas of tire testing, tire modeling, and simulation application.

Driving training simulators are frequently used to train drivers globally. On these training simulators, a trainee can practice all the driving circumstances that might arise while driving. Driving in traffic or on any highway can be practiced. Users learn how much to turn the steering wheel or how much to apply the brakes.

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There is a rise in demand for professional drivers due to increased traffic accidents, air traffic, upcoming high-speed train projects, and considerable R&D investments in autonomous cars. This, in turn, fuels the market's growth in developed and developing nations. Expansion of airports and air traffic projects around the globe, simulators for police and emergency vehicles, and the rapid development of autonomous and semiautonomous cars are anticipated to boost the market's growth during the forecast period. However, challenges in real-time control, the lack of norms and standards, and the integration's complexity could hinder the development of the driving training simulator market.

For various stages of vehicle testing, driving training simulators are becoming increasingly popular in the automotive and related industries. Engineers and researchers are currently utilizing this technology to get a realistic impression of a vehicle's overall performance in a virtual environment, assisting in bettering vehicle design and system performance. Flight simulators are also utilized in the military and aviation industries to train pilots to operate both civilian and armed forces aircraft.

Impact of COVID-19 Pandemic on Driving Training Simulator Market:

In April and May 2020, the European exports and imports of electronic components and other automotive components decreased due to the COVID-19 pandemic. The automotive sector was hit hard. OEMs announced further delays in the production of auto parts, such as steering wheels and brake pedals, and vehicle sales plummeted in the region. In 2020, vehicle production in Europe dropped by more than one-fifth compared to 2019, according to an IMF report. The auto sector was challenged by the rising demand for semiconductors due to a rise in the production of electronic parts and supply chain disruptions. All these factors disturbed the driving training simulator market in Europe. Nevertheless, people leveraged on to driving simulation for educational and entertainment purposes, which balanced the market growth to some extent.

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Integration of Virtual Reality in Driving Simulators:

A driving simulator is a technology that provides a realistic driving experience in a virtual environment. Virtual reality driver training has proven to teach drivers specific skills using a fully immersive climate only VR can offer. For instance, in 2022, Alstom developed a VR-based simulator primarily to enable drivers and crew to receive training on operating a new rolling stock product, whether on an existing, modified, or new transportation system. Training many people quickly, especially when the product may not yet be accessible, is difficult for both customers and operators. This is made possible safely using a driving simulator. One can use a simulator to show any product or train system's safety.

Furthermore, in 2021, the debut of Apex Officer Drive—a virtual reality driving simulator for police and law enforcement organizations—was announced by Apex Officer, the top supplier of training simulators for law enforcement, the military, and first responders. The philosophy and principles of defensive driving in emergency and non-emergency circumstances are emphasized in Apex Officer's EVOC and police driving simulators to improve vehicle safety operations.

Thus, the integration of VR in driving training simulators is projected to emerge as the most notable future trend in the driving training simulator market over the forecast period.

Driving Training Simulator Market: Simulator Type Overview

Based on simulator type, the driving training simulator market is bifurcated into compact simulator and full-scale simulator.

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