New York, Feb. 21, 2023 (GLOBE NEWSWIRE) -- The market revenue of the driving training simulator market stands at US$ 2,039.70 Million in 2022. The Driving Training Simulator Market is expected to grow at a CAGR of 4.6 % from 2021 to 2028, reaching a market size of US$ 3.19 billion by 2032. This report analyzes the driving training simulator market, its growth prospects, and major players in the industry.
The driving training simulator market is driven by the increasing demand for safe and effective driving training techniques, the rising number of driving schools and licensing authorities, and the need to reduce the number of road accidents. The increasing adoption of advanced driver assistance systems (ADAS) in vehicles has also boosted the market growth. However, the high cost of driving simulators and the lack of standardization in driving training regulations across different countries could impede market growth.
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Market Segmentation:
Based on simulator type, the market is segmented into compact simulators, full-scale simulators, and advanced simulators. Compact simulators are the most widely used and are preferred by driving schools due to their affordability and ease of installation. Full-scale simulators offer a more realistic driving experience but are relatively expensive. Advanced simulators are equipped with the latest technology and provide a highly immersive driving experience.
Based on end-users, the market is segmented into driving schools, government agencies, and private individuals. Driving schools are the largest end-users of driving training simulators due to the high demand for driving training courses. Government agencies use driving simulators for driver training and testing purposes. Private individuals use driving simulators for personal training and entertainment purposes.
Regional Analysis:
North America is the largest market for driving training simulators due to the presence of a large number of driving schools and a high demand for driving training courses. The Asia Pacific region is expected to grow at the highest CAGR during the forecast period due to the increasing demand for safe driving practices and the rising number of driving schools and licensing authorities in the region.
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Key Companies-
- Cruden B.V.
- Cassidian
- ECA Group
- Tecknotrove System Pvt. Ltd.
- Adacel Technologies
- Nvidia Corporation
- MTS Systems Corporation
- IPG Automotive GmbH
- Ansible Motion Ltd.
- CXC Simulations
The market is highly competitive, with major players focused on developing advanced simulators with the latest technology to provide a more immersive driving experience. The Asia Pacific region is expected to grow at the highest CAGR during the forecast period due to the increasing demand for safe driving practices and the rising number of driving schools and licensing authorities in the region.
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The following have also been identified as growth prospects for the market for driving training simulators: :
- Heavy investments are made by automotive manufacturers for developing components like processors and sensors to be used in autonomous vehicles.
- High usage of automotive OEMs using driving training simulators for testing the performance and capabilities of these components in the vehicles.
- Demand for features like automatic parking, adaptive cruise control, collision avoidance system, lane departure warning system, and blind spot monitor are fueling the utility of driving training simulators.
- The advent of the advanced driving assistance system (ADAS) is also expected to fuel the market share of the driving training simulator market in the upcoming years.
- Need for the automotive companies to remove all possible glitches and ensure the safety of the drivers is a key factor boosting the growth of the market through 2032.
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