What is the present valuation and projected CAGR of the driving simulators market?
The driving simulators market size has grown strongly in recent years. It will grow from $2.02 billion in 2024 to $2.18 billion in 2025 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to increased driver safety training, increased demand for realistic and immersive experiences, growth in cost-effective training solutions, increased regulatory requirements for standardized driver education, increased adoption of autonomous vehicle, growth in adoption of gamification elements, and growth in emphasis on reducing road accidents.
The driving simulators market size is expected to see strong growth in the next few years. It will grow to $2.9 billion in 2029 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to increasing demand for driver safety training, expanding applications in autonomous vehicle development, rising adoption in entertainment and gaming industries, increasing regulatory mandates for driver training and certification, increasing emergence of subscription-based simulator services, and expanding applications beyond automotive to industries such as aviation and military. Major trends in the forecast period include increasing demand for virtual reality-based simulators, advancement in driver-assistance systems (ADAS) integration, emergence of portable and affordable simulator solutions, continuous innovation in hardware and software technologies, and advancement in haptic feedback systems.
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Which industry factors have accelerated the driving simulators market’s expansion?
The rise in road accident rates is expected to propel the growth of the driving simulator market going forward. The increase in road accidents occurs due to higher traffic, distractions from mobile devices, speeding, driving under the influence, and insufficient enforcement of traffic regulations. Driving simulators minimize road accidents by providing a safe environment for drivers to practice and improve their skills, helping them recognize and respond to potential dangers more effectively, ultimately enhancing road safety. For instance, in May 2022, according to the National Highway Traffic Safety Administration, a US-based federal government agency focused on transportation safety, the number of fatalities from motor vehicle crashes surged by 10.5%, reaching an estimated 42,915 deaths, compared to 38,824 in 2020. Therefore, the rise in road accident rates is driving the growth of the driving simulator market.
What are the primary segments of the driving simulators market?
The driving simulators market covered in this report is segmented –
1) By Component: Hardware, Software
2) By Technology: Compact Stimulator, Full-Scale Simulator
3) By Application: Research And Testing, Training
4) By End-User: Automotive Original Equipment Manufacturers (OEMs), Research Institutes And Universities, Driving Schools And Training Centers, Other End Users
Subsegments:
1) By Hardware: Simulator Cockpits, Motion Platforms, Steering Wheels And Pedals, Visual Displays (Screens Or Projectors), Sound Systems, Vibration Systems, Sensors And Trackers
2) By Software: Simulation Software For Vehicle Dynamics, Virtual Environment Software, Driver Training Software, Vehicle Performance Analysis Software, Simulation Software For Traffic And Road Networks, Simulation Software For Autonomous Vehicles, Analytics And Data Processing Software
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Which firms are leading the driving simulators market?
Major companies operating in the driving simulators market are Volkswagen AG, Ford Motors, General Motors, BMW AG, AB Volvo, NVIDIA Corporation, Moog Inc., CAE Inc., ANSYS Inc., Waymo LLC, ECA Group, AB Dynamics, FAAC Incorporated, OKTAL SYDAC, Transoft Solutions, LANDER Simulation & Training Solutions S.A., MAK Technologies Inc., Tecknotrove, RACELOGIC Ltd., Mechanical Simulation Corporation, Cruden, SimXperience, CXC Simulations, Virage Simulation, DriveSafety
Which market trends are set to define the future of the driving simulators market?
Major companies operating in the driving simulator market are adopting advanced technologies, such as motion cueing technology, to enhance the realism and accuracy of the simulation experience, providing more effective training and testing environments for drivers. Motion cueing technology in driving simulators creates realistic driving sensations by using motion systems to simulate the physical forces of acceleration, braking, and turning, thereby improving the authenticity and effectiveness of the simulation. For instance, in November 2023, VI-grade, a Germany-based driving simulator solutions company, launched the DiM300 driving simulator. The DiM300 driving simulator features motion cueing technology that provides realistic physical feedback, such as motion and haptic sensations, enhancing the driving experience by simulating real-world forces. Combined with dynamic simulation and high-quality graphics, this technology allows for comprehensive vehicle testing in a virtual environment.
Which geographic trends are shaping the driving simulators market, and which region has the highest market share?
North America was the largest region in the driving simulators market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the driving simulators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Driving Simulators Market Report 2025 Offer?
The driving simulators market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
A driving simulator is a tool or setup that mimics the act of driving a vehicle in a virtual setting and is utilized for instructional, investigative, or recreational objectives. These driving simulators offer a secure environment for trainees to practice driving skills, free from real-world risks, while also providing the flexibility to simulate various driving scenarios such as diverse weather conditions, road types, and traffic situations.
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