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Hardware in the Loop Market by Type (Open Loop, Closed Loop), Vertical (Automobile, Aerospace, Defense, Power Electronics, Research & Education) and Region (North America, APAC, Europe, Rest of the World) - Global Forecast to 2027

Hardware in the Loop Market by Type (Open Loop, Closed Loop), Vertical (Automobile, Aerospace, Defense, Power Electronics, Research & Education) and Region (North America, APAC, Europe, Rest of the World) - Global Forecast to 2027

The hardware in the loop market size is estimated to be valued at USD 817 million in 2022 and is projected to reach USD 1,291 million by 2027, growing at a CAGR of 9.6% from 2022 to 2027. Many industries such as automobile, aerospace, defense, semiconductor, and energy are continuously working on reducing the time period utilized in product development stages where electronic controls are a crucial part of the product. Model-based design techniques such as V-cycle are implemented by companies to speed up the development of control systems during the development phase of a product. Hardware in the loop is used in the last stage of the V-cycle product development of control systems.
In aircraft, complex electromechanical systems such as propulsion control systems, avionics, and flight control systems have electronic controllers and mechanical components. With the advancement in these systems, their complexity also increases, which requires rigorous testing, thus increasing the product development time. Hardware in the loop testing provides benefits such as early testing using a virtual environment and system simulations; this allows testing of the controllers and components, which can be tested in tandem with the product development phase. This reduces the time duration of the testing and development phases.

“Closed Loop: The fastest type in hardware in the loop market”
Closed loop testing is done on controllers that have a feedback loop. It is important to correct any error or drift in the output of the machine as the controller will receive a signal from the actuator or sensor. Hardware in the loop test system can mimic this functionality by utilizing a physics or mathematical model for simulating the machine, system, or plant. This will ensure the controller is operating in the desired state to achieve the output and is correcting any error in the output. The rising implementation of autonomous driving and ADAS across the automotive sector is expected to boost the demand for closed loop hardware in the loop systems in the future
“Power electronics: Fastest vertical of hardware in the loop market”
Hardware in the loop testing helps in testing power electronic devices, such as electric motors and converters, by simulating the load connected to it; this helps in faster and reliable testing of these devices.LS Electric, a South Korean company providing power electronics solutions, used Typhoon HIL system to resolve some of the control engineering problems. The company faced the challenge of setting up a strong controller design for 15 Power Electronic Building Block (PEBB), with verification for parallel operations and communication performance. Using Typhoon HIL solution’s real-time verification on a microsecond time-step scale, it was able to verify its high-speed controller for multiple PEBB operations with the aim of increasing the efficiency, reliability, and longevity of the system.

“US: The highest market share in North American hardware in the loop market”
The US has the largest aerospace market. Hardware in the loop testing is widely adopted by the manufacturers and suppliers of aerospace equipment in the country. General Electric, Lockheed Martin, Boeing, SpaceX, and Blue Origin are some of the prominent players in the aerospace and defense industries. The power electronics sector is strong in the country, with major manufacturers such as Texas Instruments, Magna Power Electronics, and Colorado Power Electronics catering to the power grid, power generation, and distribution applications in the US.

The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
•By Company Type: Tier 1– 40%, Tier 2– 25%, and Tier 3 – 35%
•By Designation: C-level Executives– 35%, Directors– 28%, and Others – 37%
•By Region: Europe– 45%,North America– 30%,APAC– 20%,RoW– 5%
dSPACE GmbH (Germany), NATIONAL INSTRUMENTS CORP. (US), Vector Informatic GmbH (Germany), Elektrobit (Germany), OPAL-RT Technologies (Canada), Speedgoat GmbH (Switzerland), Robert Bosch GmbH (Germany), IPG Automotive GmbH (Germany), Acutronic Holding AG (Switzerland), Plexim GmbH (Switzerland), Konrad GmbH (Germany), MicroNova (Germany), LHP, Inc (US), Genuen (US), Typhoon HIL (US), ModelingTech (China), Bloomy Controls (US), Controllab (Netherlands), Pickering Interfaces (UK), Applus+ (Spain), Add2 Limited (UK), BlueHalo (US), Siemens (Germany), Spirent Communication (US), and UAV Navigation (Spain)are among the many players in the hardware in the loop market.

Research Coverage:
The report segments the hardware in the loop market and forecasts its size, by value, based on by type, vertical, and region.
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the hardware in the loop market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.

Key Benefits of Buying the Report
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the hardware in the loop market and provides them information on key market drivers, restraints, challenges, and opportunities.

Table of Content

1INTRODUCTION26
1.1STUDY OBJECTIVES26
1.2DEFINITION26
1.2.1INCLUSIONS AND EXCLUSIONS27
1.3STUDY SCOPE27
1.3.1MARKETS COVERED27
FIGURE 1HARDWARE IN THE LOOP MARKET SEGMENTATION27
1.3.2GEOGRAPHIC SCOPE28
1.3.3YEARS CONSIDERED28
1.4CURRENCY CONSIDERED28
1.5STAKEHOLDERS29
1.6SUMMARY OF CHANGES29
2RESEARCH METHODOLOGY30
2.Table of Content

1INTRODUCTION30
FIGURE 2HARDWARE IN THE LOOP MARKET: RESEARCH DESIGN30
2.1.1SECONDARY AND PRIMARY RESEARCH32
2.1.2SECONDARY DATA33
2.1.2.1List of major secondary sources33
2.1.2.2Key data from secondary sources33
2.1.3PRIMARY DATA34
2.1.3.1List of key primary interview participants34
2.1.3.2Breakdown of primary Interviews34
2.2MARKET SIZE ESTIMATION35
FIGURE 3MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY-SIDE ANALYSIS35
FIGURE 4MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (SUPPLY SIDE)—IDENTIFICATION OF REVENUE GENERATED BY COMPANIES FROM HARDWARE IN THE LOOP OFFERINGS36
2.2.1BOTTOM-UP APPROACH37
2.2.1.1Approach for arriving at market size using bottom-up analysis37
FIGURE 5MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH37
2.2.2TOP-DOWN APPROACH38
2.2.2.1Approach for arriving at market size using top-down analysis38
FIGURE 6MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH38
2.3DATA TRIANGULATION39
FIGURE 7DATA TRIANGULATION: HARDWARE IN THE LOOP MARKET39
2.4RESEARCH ASSUMPTIONS40
TABLE 1RESEARCH ASSUMPTIONS: HARDWARE IN THE LOOP MARKET40

2.5LIMITATIONS40
2.6RISK ASSESSMENT41
TABLE 2LIMITATIONS AND ASSOCIATED RISKS41
3EXECUTIVE SUMMARY42
3.1GROWTH RATE ASSUMPTIONS/GROWTH FORECAST43
FIGURE 8OPEN LOOP SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD43
FIGURE 9AUTOMOBILE TO BE LARGEST VERTICAL SEGMENT OF HARDWARE IN THE LOOP MARKET DURING FORECAST PERIOD44
FIGURE 10ASIA PACIFIC HARDWARE IN THE LOOP MARKET TO GROW AT HIGHEST
CAGR FROM 2022 TO 202745
4PREMIUM INSIGHTS46
4.1ATTRACTIVE OPPORTUNITIES IN HARDWARE IN THE LOOP MARKET46
FIGURE 11GROWING DEMAND FOR HARDWARE IN THE LOOP TECHNIQUES ACROSS ELECTRIC VEHICLE TESTING AND AUTONOMOUS DRIVING46
4.2HARDWARE IN THE LOOP MARKET IN NORTH AMERICA, BY COUNTRY AND BY VERTICAL47
FIGURE 12US AND AUTOMOBILE VERTICAL TO BE LARGEST SHAREHOLDERS OF NORTH AMERICAN HARDWARE IN THE LOOP MARKET IN 202247
4.3HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC, BY VERTICAL47
FIGURE 13POWER ELECTRONICS VERTICAL TO ACCOUNT FOR HIGHEST CAGR DURING FORECAST PERIOD47
4.4HARDWARE IN THE LOOP MARKET, BY COUNTRY48
FIGURE 14HARDWARE IN THE LOOP MARKET IN CHINA TO GROW AT HIGHEST CAGR FROM 2022 TO 202748
5MARKET OVERVIEW49
5.1INTRODUCTION49
5.2MARKET DYNAMICS49
FIGURE 15HARDWARE IN THE LOOP MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES49
5.2.1DRIVERS50
5.2.1.1Technological advancements in electric and autonomous vehicles50
5.2.1.2Faster product development with early stages of testing using hardware in the loop50
5.2.1.3Growing demand in developing countries51
FIGURE 16HARDWARE IN THE LOOP MARKET: IMPACT ANALYSIS OF DRIVERS52
5.2.2RESTRAINTS52
5.2.2.1High cost of ownership and technical complexity in implementation52
FIGURE 17HARDWARE IN THE LOOP MARKET: IMPACT ANALYSIS OF RESTRAINTS53
5.2.3OPPORTUNITIES53
5.2.3.1Adoption in new application areas such as power electronics and industrial robotics53
FIGURE 18HARDWARE IN THE LOOP MARKET: IMPACT ANALYSIS OF OPPORTUNITIES53

5.2.4CHALLENGES54
5.2.4.1Complexity in creating real-time simulation54
5.2.4.2Reluctance to invest54
FIGURE 19HARDWARE IN THE LOOP MARKET: IMPACT ANALYSIS OF CHALLENGES54
5.3VALUE CHAIN ANALYSIS54
FIGURE 20HARDWARE IN THE LOOP MARKET: VALUE CHAIN ANALYSIS55
5.4PORTER’S FIVE FORCES ANALYSIS55
TABLE 3IMPACT OF PORTER’S FIVE FORCES ON HARDWARE IN THE LOOP MARKET, 2022–202757
5.5KEY STAKEHOLDERS AND BUYING CRITERIA58
5.5.1KEY STAKEHOLDERS IN BUYING PROCESS58
FIGURE 21INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE VERTICALS58
TABLE 4INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE VERTICALS (%)58
5.5.2BUYING CRITERIA59
FIGURE 22KEY BUYING CRITERIA FOR TOP THREE VERTICALS59
TABLE 5KEY BUYING CRITERIA FOR TOP THREE VERTICALS59
5.6ECOSYSTEM ANALYSIS60
FIGURE 23HARDWARE IN THE LOOP MARKET: ECOSYSTEM60
TABLE 6HARDWARE IN TH LOOP MARKET: SUPPLY CHAIN60
5.7TRENDS/DISRUPTIONS IMPACTING CUSTOMERS61
FIGURE 24REVENUE SHIFT FOR HARDWARE IN THE LOOP MARKET61
5.8CASE STUDIES62
5.8.1MODULAR HARDWARE IN THE LOOP TEST SYSTEM FOR AUTOMOBILE
ECU TESTING62
5.8.2ELECTRIC PARKING BRAKE HARDWARE IN THE LOOP AND DURABILITY TEST62
5.8.3HARDWARE IN THE LOOP-POWERED DIGITAL TWIN MODEL FOR SMART ELECTRIC GRID RESEARCH63
5.8.4AUTOMATED VALIDATION OF RADAR SENSORS IN AUTOMOBILES63
5.8.5DEVELOPING HARDWARE IN THE LOOP SYSTEM FOR TESTING
HYDROGEN VEHICLES63
5.9TECHNOLOGY ANALYSIS64
5.9.1DIGITAL TWIN64
5.9.2VIRTUAL ENVIRONMENT SIMULATION FOR AUTONOMOUS VEHICLES64
5.10PRICING ANALYSIS64
TABLE 7AVERAGE SELLING PRICE OF HARDWARE IN THE LOOP64
5.11TRADE ANALYSIS65
TABLE 8IMPORT DATA, BY COUNTRY, 2017–2021, (USD MILLION)65
FIGURE 25IMPORT DATA, BY COUNTRY, 2017–2021 (USD MILLION)65
TABLE 9EXPORT DATA, BY COUNTRY, 2017–2021 (USD MILLION)66
FIGURE 26EXPORT DATA, BY COUNTRY, 2017–2021 (USD MILLION)66

5.12PATENT ANALYSIS67
TABLE 10IMPORTANT PATENTS IN HARDWARE IN THE LOOP MARKET, 2019–202168
5.13TARIFF ANALYSIS72
TABLE 11MFN TARIFFS FOR MEASURING OR CHECKING INSTRUMENTS, APPLIANCES, AND MACHINES EXPORTED BY US72
TABLE 12MFN TARIFFS FOR MEASURING OR CHECKING INSTRUMENTS, APPLIANCES, AND MACHINES EXPORTED BY CHINA72
TABLE 13MFN TARIFF FOR MEASURING OR CHECKING INSTRUMENTS, APPLIANCES, AND MACHINES EXPORTED BY GERMANY72
5.14KEY CONFERENCES AND EVENTS, 2022–202373
TABLE 14HARDWARE IN THE LOOP MARKET: DETAILED LIST OF CONFERENCES
AND EVENTS73
5.15REGULATORY LANDSCAPE73
5.15.1REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS73
TABLE 15NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS73
TABLE 16EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS74
TABLE 17ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS75
6HARDWARE IN THE LOOP MARKET, BY TYPE77
6.1INTRODUCTION78
FIGURE 27HARDWARE IN THE LOOP MARKET, BY TYPE78
FIGURE 28HARDWARE IN THE LOOP MARKET, BY TYPE, 2022–202778
TABLE 18HARDWARE IN THE LOOP MARKET, BY TYPE, 2018–2021 (USD MILLION)78
TABLE 19HARDWARE IN THE LOOP MARKET, BY TYPE, 2022–2027 (USD MILLION)79
6.2OPEN LOOP79
6.2.1USED FOR TESTING SIMPLE OPEN-LOOP CONTROLLERS79
TABLE 20OPEN LOOP: HARDWARE IN THE LOOP MARKET, BY VERTICAL,
2018–2021 (USD MILLION)80
TABLE 21OPEN LOOP: HARDWARE IN THE LOOP MARKET, BY VERTICAL,
2022–2027 (USD MILLION)80
6.3CLOSED LOOP80
6.3.1USED TO TEST AND VALIDATE COMPLEX CONTROLLERS AND CONTROL SYSTEMS IN DYNAMIC TEST PLATFORM80
TABLE 22CLOSED LOOP: HARDWARE IN THE LOOP MARKET, BY VERTICAL,
2018–2021 (USD MILLION)81
TABLE 23CLOSED LOOP: HARDWARE IN THE LOOP MARKET, BY VERTICAL,
2022–2027 (USD MILLION)81
7HARDWARE IN THE LOOP MARKET, BY VERTICAL82
7.1INTRODUCTION83
FIGURE 29HARDWARE IN THE LOOP MARKET, BY VERTICAL83
FIGURE 30HARDWARE IN THE LOOP MARKET, BY VERTICAL, 2022–202784
TABLE 24HARDWARE IN THE LOOP MARKET, BY VERTICAL, 2018–2021 (USD MILLION)84
TABLE 25HARDWARE IN THE LOOP MARKET, BY VERTICAL, 2022–2027 (USD MILLION)84
7.2AUTOMOBILE85
7.2.1ELIMINATE ERRORS IN EARLY STAGE OF VEHICLE DEVELOPMENT85
TABLE 26AUTOMOBILE VERTICAL: HARDWARE IN THE LOOP MARKET, BY REGION, 2018–2021 (USD MILLION)86
TABLE 27AUTOMOBILE VERTICAL: HARDWARE IN THE LOOP MARKET, BY REGION, 2022–2027 (USD MILLION)86
TABLE 28AUTOMOBILE VERTICAL: HARDWARE IN THE LOOP MARKET, BY TYPE,
2018–2021 (USD MILLION)86
TABLE 29AUTOMOBILE VERTICAL: HARDWARE IN THE LOOP MARKET, BY TYPE,
2022–2027 (USD MILLION)86
TABLE 30AUTOMOBILE VERTICAL: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA, BY COUNTRY, 2018–2021 (USD MILLION)87
TABLE 31AUTOMOBILE VERTICAL: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION)87
TABLE 32AUTOMOBILE VERTICAL: HARDWARE IN THE LOOP MARKET IN EUROPE,
BY COUNTRY, 2018–2021 (USD MILLION)87
TABLE 33AUTOMOBILE VERTICAL: HARDWARE IN THE LOOP MARKET IN EUROPE,
BY COUNTRY, 2022–2027 (USD MILLION)87
TABLE 34AUTOMOBILE VERTICAL: HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC, BY COUNTRY, 2018–2021 (USD MILLION)88
TABLE 35AUTOMOBILE VERTICAL: HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC, BY COUNTRY, 2022–2027 (USD MILLION)88
TABLE 36AUTOMOBILE VERTICAL: HARDWARE IN THE LOOP MARKET IN ROW,
BY REGION, 2018–2021 (USD MILLION)88
TABLE 37AUTOMOBILE VERTICAL: HARDWARE IN THE LOOP MARKET IN ROW,
BY REGION, 2022–2027 (USD MILLION)88
7.3AEROSPACE89
7.3.1HARDWARE IN THE LOOP SIMULATION ENABLES TESTING OF ECU FOR CRITICAL SYSTEMS89
TABLE 38AEROSPACE VERTICAL: HARDWARE IN THE LOOP MARKET, BY REGION, 2018–2021 (USD MILLION)89
TABLE 39AEROSPACE VERTICAL: HARDWARE IN THE LOOP MARKET, BY REGION, 2022–2027 (USD MILLION)90
TABLE 40AEROSPACE VERTICAL: HARDWARE IN THE LOOP MARKET, BY TYPE,
2018–2021 (USD MILLION)90
TABLE 41AEROSPACE VERTICAL: HARDWARE IN THE LOOP MARKET, BY TYPE,
2022–2027 (USD MILLION)90
TABLE 42AEROSPACE VERTICAL: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA, BY COUNTRY, 2018–2021 (USD MILLION)90
TABLE 43AEROSPACE VERTICAL: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION)91
TABLE 44AEROSPACE VERTICAL: HARDWARE IN THE LOOP MARKET IN EUROPE,
BY COUNTRY, 2018–2021 (USD MILLION)91
TABLE 45AEROSPACE VERTICAL: HARDWARE IN THE LOOP MARKET IN EUROPE,
BY COUNTRY, 2022–2027 (USD MILLION)91
TABLE 46AEROSPACE VERTICAL: HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC, BY COUNTRY, 2018–2021 (USD MILLION)92
TABLE 47AEROSPACE VERTICAL: HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC, BY COUNTRY, 2022–2027 (USD MILLION)92
TABLE 48AEROSPACE VERTICAL: HARDWARE IN THE LOOP MARKET IN ROW,
BY REGION, 2018–2021 (USD MILLION)92
TABLE 49AEROSPACE VERTICAL: HARDWARE IN THE LOOP MARKET IN ROW,
BY REGION, 2022–2027 (USD MILLION)92
7.4DEFENSE93
7.4.1COST-EFFECTIVE AND RELIABLE TESTING OF DEFENSE TECHNOLOGIES93
TABLE 50DEFENSE VERTICAL: HARDWARE IN THE LOOP MARKET, BY REGION,
2018–2021 (USD MILLION)93
TABLE 51DEFENSE VERTICAL: HARDWARE IN THE LOOP MARKET, BY REGION,
2022–2027 (USD MILLION)93
TABLE 52DEFENSE VERTICAL: HARDWARE IN THE LOOP MARKET, BY TYPE,
2018–2021 (USD MILLION)94
TABLE 53DEFENSE VERTICAL: HARDWARE IN THE LOOP MARKET, BY TYPE,
2022–2027 (USD MILLION)94
TABLE 54DEFENSE VERTICAL: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA, BY COUNTRY, 2018–2021 (USD MILLION)94
TABLE 55DEFENSE VERTICAL: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION)94
TABLE 56DEFENSE VERTICAL: HARDWARE IN THE LOOP MARKET IN EUROPE,
BY COUNTRY, 2018–2021 (USD MILLION)95
TABLE 57DEFENSE VERTICAL: HARDWARE IN THE LOOP MARKET IN EUROPE,
BY COUNTRY, 2022–2027 (USD MILLION)95
TABLE 58DEFENSE VERTICAL: HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC,
BY COUNTRY, 2018–2021 (USD MILLION)95
TABLE 59DEFENSE VERTICAL: HARDWARE IN THE LOOP MARKET, IN ASIA PACIFIC,
BY COUNTRY, 2022–2027 (USD MILLION)96
TABLE 60DEFENSE VERTICAL: HARDWARE IN THE LOOP MARKET IN ROW, BY REGION, 2018–2021 (USD MILLION)96
TABLE 61DEFENSE VERTICAL: HARDWARE IN THE LOOP MARKET IN ROW, BY REGION, 2022–2027 (USD MILLION)96
7.5POWER ELECTRONICS96
7.5.1TESTING OF POWER ELECTRONIC DEVICES CRUCIAL FOR CONTINUOUS TESTING AND SIMULATION OF VARIOUS SCENARIOS IN ELECTRIC GRIDS96
TABLE 62POWER ELECTRONICS VERTICAL: HARDWARE IN THE LOOP MARKET,
BY REGION, 2018–2021 (USD MILLION)97
TABLE 63POWER ELECTRONICS VERTICAL: HARDWARE IN THE LOOP MARKET,
BY REGION, 2022–2027 (USD MILLION)97
TABLE 64POWER ELECTRONICS VERTICAL: HARDWARE IN THE LOOP MARKET, BY TYPE, 2018–2021 (USD MILLION)98
TABLE 65POWER ELECTRONICS VERTICAL: HARDWARE IN THE LOOP MARKET, BY TYPE, 2022–2027 (USD MILLION)98
TABLE 66POWER ELECTRONICS VERTICAL: HARDWARE IN THE LOOP MARKET
IN NORTH AMERICA, BY COUNTRY, 2018–2021 (USD MILLION)98
TABLE 67POWER ELECTRONICS VERTICAL: HARDWARE IN THE LOOP MARKET
IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION)98
TABLE 68POWER ELECTRONICS VERTICAL: HARDWARE IN THE LOOP MARKET
IN EUROPE, BY COUNTRY, 2018–2021 (USD MILLION)99
TABLE 69POWER ELECTRONICS VERTICAL: HARDWARE IN THE LOOP MARKET IN EUROPE, BY COUNTRY, 2022–2027 (USD MILLION)99
TABLE 70POWER ELECTRONICS VERTICAL: HARDWARE IN THE LOOP MARKET IN
ASIA PACIFIC, BY COUNTRY, 2018–2021 (USD MILLION)99
TABLE 71POWER ELECTRONICS VERTICAL: HARDWARE IN THE LOOP MARKET IN
ASIA PACIFIC, BY COUNTRY, 2022–2027 (USD MILLION)100
TABLE 72POWER ELECTRONICS VERTICAL: HARDWARE IN THE LOOP MARKET IN ROW, BY REGION, 2018–2021 (USD MILLION)100
TABLE 73POWER ELECTRONICS VERTICAL: HARDWARE IN THE LOOP MARKET IN ROW, BY REGION, 2022–2027 (USD MILLION)100
7.6RESEARCH & EDUCATION100
7.6.1HARDWARE IN THE LOOP SIMULATION PROVIDES RELIABLE VIRTUAL TESTING OF ECU FOR RESEARCH AND ACADEMIC STUDIES100
TABLE 74RESEARCH & EDUCATION VERTICAL: HARDWARE IN THE LOOP MARKET,
BY REGION, 2018–2021 (USD MILLION)101
TABLE 75RESEARCH & EDUCATION VERTICAL: HARDWARE IN THE LOOP MARKET,
BY REGION, 2022–2027 (USD MILLION)101
TABLE 76RESEARCH & EDUCATION VERTICAL: HARDWARE IN THE LOOP MARKET,
BY TYPE, 2018–2021 (USD MILLION)101
TABLE 77RESEARCH & EDUCATION VERTICAL: HARDWARE IN THE LOOP MARKET,
BY TYPE, 2022–2027 (USD MILLION)102
TABLE 78RESEARCH & EDUCATION VERTICAL: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA, BY COUNTRY, 2018–2021 (USD MILLION)102
TABLE 79RESEARCH & EDUCATION VERTICAL: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION)102
TABLE 80RESEARCH & EDUCATION VERTICAL: HARDWARE IN THE LOOP MARKET IN EUROPE, BY COUNTRY, 2018–2021 (USD MILLION)102
TABLE 81RESEARCH & EDUCATION VERTICAL: HARDWARE IN THE LOOP MARKET IN EUROPE, BY COUNTRY, 2022–2027 (USD MILLION)103
TABLE 82RESEARCH & EDUCATION VERTICAL: HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC, BY COUNTRY, 2018–2021 (USD MILLION)103
TABLE 83RESEARCH & EDUCATION VERTICAL: HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC, BY COUNTRY, 2022–2027 (USD MILLION)103
TABLE 84RESEARCH & EDUCATION VERTICAL: HARDWARE IN THE LOOP MARKET IN ROW, BY REGION, 2018–2021 (USD MILLION)103
TABLE 85RESEARCH & EDUCATION VERTICAL: HARDWARE IN THE LOOP MARKET IN ROW, BY REGION, 2022–2027 (USD MILLION)104
7.7OTHERS104
TABLE 86OTHER VERTICALS: HARDWARE IN THE LOOP MARKET, BY REGION,
2018–2021 (USD MILLION)104
TABLE 87OTHER VERTICALS: HARDWARE IN THE LOOP MARKET, BY REGION,
2022–2027 (USD MILLION)105
TABLE 88OTHER VERTICALS: HARDWARE IN THE LOOP MARKET, BY TYPE,
2018–2021 (USD MILLION)105
TABLE 89OTHER VERTICALS: HARDWARE IN THE LOOP MARKET, BY TYPE,
2022–2027 (USD MILLION)105
TABLE 90OTHER VERTICALS: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA,
BY COUNTRY, 2018–2021 (USD MILLION)105
TABLE 91OTHER VERTICALS: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA,
BY COUNTRY, 2022–2027 (USD MILLION)106
TABLE 92OTHER VERTICALS: HARDWARE IN THE LOOP MARKET IN EUROPE,
BY COUNTRY, 2018–2021 (USD MILLION)106
TABLE 93OTHER VERTICALS: HARDWARE IN THE LOOP MARKET IN EUROPE,
BY COUNTRY, 2022–2027 (USD MILLION)106
TABLE 94OTHER VERTICALS: HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC,
BY COUNTRY, 2018–2021 (USD MILLION)107
TABLE 95OTHER VERTICALS: HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC,
BY COUNTRY, 2022–2027 (USD MILLION)107
TABLE 96OTHER VERTICALS: HARDWARE IN THE LOOP MARKET IN ROW, BY REGION, 2018–2021 (USD MILLION)107
TABLE 97OTHER VERTICALS: HARDWARE IN THE LOOP MARKET IN ROW, BY REGION, 2022–2027 (USD MILLION)107
8HARDWARE IN THE LOOP MARKET, BY REGION108
8.1INTRODUCTION109
FIGURE 31HARDWARE IN THE LOOP MARKET, BY REGION, 2022–2027109
TABLE 98HARDWARE IN THE LOOP MARKET, BY REGION, 2018–2021 (USD MILLION)109
TABLE 99HARDWARE IN THE LOOP MARKET, BY REGION, 2022–2027 (USD MILLION)109
8.2NORTH AMERICA110
FIGURE 32NORTH AMERICA: HARDWARE IN THE LOOP MARKET SNAPSHOT111
TABLE 100NORTH AMERICA: HARDWARE IN THE LOOP MARKET, BY VERTICAL,
2018–2021 (USD MILLION)111
TABLE 101NORTH AMERICA: HARDWARE IN THE LOOP MARKET, BY VERTICAL,
2022–2027 (USD MILLION)112
TABLE 102NORTH AMERICA: HARDWARE IN THE LOOP MARKET, BY COUNTRY,
2018–2021 (USD MILLION)112
TABLE 103NORTH AMERICA: HARDWARE IN THE LOOP MARKET, BY COUNTRY,
2022–2027 (USD MILLION)112
8.2.1US113
8.2.1.1Leads the market in North America113
8.2.2CANADA113
8.2.2.1Electric vehicles to boost demand for hardware in the loop testing of equipment and various control systems113
8.2.3MEXICO114
8.2.3.1Growing investments from automobile manufacturers to propel demand for hardware in the loop systems114
8.3EUROPE115
FIGURE 33EUROPE: HARDWARE IN THE LOOP MARKET SNAPSHOT115
TABLE 104EUROPE: HARDWARE IN THE LOOP MARKET, BY VERTICAL,
2018–2021 (USD MILLION)116
TABLE 105EUROPE: HARDWARE IN THE LOOP MARKET, BY VERTICAL,
2022–2027 (USD MILLION)116
TABLE 106EUROPE: HARDWARE IN THE LOOP MARKET, BY COUNTRY,
2018–2021 (USD MILLION)116
TABLE 107EUROPE: HARDWARE IN THE LOOP MARKET, BY COUNTRY,
2022–2027 (USD MILLION)117
8.3.1UK117
8.3.1.1Development of power infrastructure with the addition of renewable energy sources to further boost demand for testing power electronics117
8.3.2GERMANY118
8.3.2.1Leads technological development in electronics, automobiles, industrial automation, and power generation and transmission118
8.3.3FRANCE118
8.3.3.1Increasing trend of robotics to enhance the hardware in the loop market for testing and simulation118
8.3.4REST OF EUROPE118
8.4ASIA PACIFIC119
FIGURE 34ASIA PACIFIC: HARDWARE IN THE LOOP MARKET SNAPSHOT119
TABLE 108ASIA PACIFIC: HARDWARE IN THE LOOP MARKET, BY VERTICAL,
2018–2021 (USD MILLION)120
TABLE 109ASIA PACIFIC: HARDWARE IN THE LOOP MARKET, BY VERTICAL,
2022–2027 (USD MILLION)120
TABLE 110ASIA PACIFIC: HARDWARE IN THE LOOP MARKET, BY COUNTRY,
2018–2021 (USD MILLION)120
TABLE 111ASIA PACIFIC: HARDWARE IN THE LOOP MARKET, BY COUNTRY,
2022–2027 (USD MILLION)121
8.4.1CHINA121
8.4.1.1To witness highest growth globally121
8.4.2INDIA121
8.4.2.1Development of electric vehicles to create potential for new plants for testing and simulation121
8.4.3JAPAN122
8.4.3.1Growth of power electronics sector for testing inverters and DC-DC converters122
8.4.4REST OF ASIA PACIFIC122
8.5ROW123
TABLE 112ROW: HARDWARE IN THE LOOP MARKET, BY VERTICAL,
2018–2021 (USD MILLION)123
TABLE 113ROW: HARDWARE IN THE LOOP MARKET, BY VERTICAL,
2022–2027 (USD MILLION)123
TABLE 114ROW: HARDWARE IN THE LOOP MARKET, BY REGION,
2018–2021 (USD MILLION)123
TABLE 115ROW: HARDWARE IN THE LOOP MARKET, BY REGION,
2022–2027 (USD MILLION)124
8.5.1SOUTH AMERICA124
8.5.1.1Automobile manufacturers to boost development of electric vehicles124
8.5.2MIDDLE EAST & AFRICA124
8.5.2.1Growing investment opportunities from automobile manufacturers124

9COMPETITIVE LANDSCAPE125
9.1OVERVIEW125
9.2MARKET EVALUATION FRAMEWORK125
TABLE 116OVERVIEW OF STRATEGIES DEPLOYED BY KEY HARDWARE IN THE LOOP PLAYERS125
9.2.1PRODUCT PORTFOLIO125
9.2.2REGIONAL FOCUS126
9.2.3MANUFACTURING FOOTPRINT126
9.2.4ORGANIC/INORGANIC GROWTH STRATEGIES126
9.3MARKET SHARE ANALYSIS: HARDWARE IN THE LOOP MARKET, 2021126
TABLE 117DEGREE OF COMPETITION126
9.4COMPANY EVALUATION MATRIX128
9.4.1STARS128
9.4.2EMERGING LEADERS128
9.4.3PERVASIVE COMPANIES128
9.4.4PARTICIPANTS128
FIGURE 35COMPANY EVALUATION MATRIX, 2021129
9.5START-UP/SME EVALUATION MATRIX130
9.5.1PROGRESSIVE COMPANIES130
9.5.2RESPONSIVE COMPANIES130
9.5.3DYNAMIC COMPANIES130
9.5.4STARTING BLOCKS130
FIGURE 36START-UP/SME EVALUATION MATRIX, 2021131
9.6HARDWARE IN THE LOOP MARKET: COMPANY FOOTPRINT132
TABLE 118COMPANY FOOTPRINT (25 COMPANIES)132
TABLE 119FOOTPRINT OF DIFFERENT TYPES OF HARDWARE IN THE LOOP OFFERED
BY DIFFERENT COMPANIES133
TABLE 120FOOTPRINT OF DIFFERENT COMPANIES ACROSS DIFFERENT VERTICALS134
TABLE 121REGIONAL FOOTPRINT OF DIFFERENT COMPANIES135
9.7COMPETITIVE BENCHMARKING136
TABLE 122HARDWARE IN THE LOOP MARKET: DETAILED LIST OF KEY START-UPS/SMES136
TABLE 123HARDWARE IN THE LOOP MARKET: COMPETITIVE BENCHMARKING OF
KEY START-UPS/SMES137
9.8COMPETITIVE SITUATIONS AND TRENDS138
9.8.1PRODUCT LAUNCHES AND DEVELOPMENTS138
TABLE 124PRODUCT LAUNCHES, NOVEMBER 2019–APRIL 2022138
9.8.2DEALS140
TABLE 125DEALS, NOVEMBER 2019–MARCH 2022140

10COMPANY PROFILES145
(Business overview, Products offered, Recent Developments, MNM view)*
10.1KEY PLAYERS145
10.1.1DSPACE145
TABLE 126DSPACE: COMPANY OVERVIEW145
TABLE 127DSPACE: PRODUCT OFFERINGS145
10.1.2NATIONAL INSTRUMENTS149
TABLE 128NATIONAL INSTRUMENTS: COMPANY OVERVIEW149
FIGURE 37NATIONAL INSTRUMENTS: COMPANY SNAPSHOT150
TABLE 129NATIONAL INSTRUMENTS: PRODUCT OFFERINGS150
10.1.3VECTOR INFORMATIK154
TABLE 130VECTOR INFORMATIK: COMPANY OVERVIEW154
TABLE 131VECTOR INFORMATIK: PRODUCT OFFERINGS154
10.1.4ELEKTROBIT AUTOMOTIVE157
TABLE 132ELEKTROBIT AUTOMOTIVE: COMPANY OVERVIEW157
TABLE 133ELEKTROBIT AUTOMOTIVE: PRODUCT OFFERINGS157
10.1.5OPAL-RT TECHNOLOGIES159
TABLE 134OPAL-RT TECHNOLOGIES: COMPANY OVERVIEW159
TABLE 135OPAL RT TECHNOLOGIES: PRODUCT OFFERINGS159
10.1.6SPEEDGOAT162
TABLE 136SPEEDGOAT: BUSINESS OVERVIEW162
TABLE 137SPEEDGOAT: PRODUCT OFFERINGS162
10.1.7BOSCH164
TABLE 138BOSCH: BUSINESS OVERVIEW164
FIGURE 38BOSCH: COMPANY SNAPSHOT165
TABLE 139BOSCH: PRODUCT OFFERINGS165
10.1.8IPG AUTOMOTIVE166
TABLE 140IPG AUTOMOTIVE: COMPANY OVERVIEW166
TABLE 141IPG AUTOMOTIVE: PRODUCT OFFERINGS166
10.1.9ACUTRONIC168
TABLE 142ACUTRONIC: COMPANY OVERVIEW168
TABLE 143ACUTRONIC: PRODUCT OFFERINGS168
10.1.10PLEXIM170
TABLE 144PLEXIM: COMPANY OVERVIEW170
TABLE 145PLEXIM: PRODUCT OFFERINGS170
10.1.11KONRAD TECHNOLOGIES171
TABLE 146KONRAD TECHNOLOGIES: COMPANY OVERVIEW171
TABLE 147KONRAD TECHNOLOGIES: PRODUCT OFFERINGS171
10.1.12MICRONOVA173
TABLE 148MICRONOVA: COMPANY OVERVIEW173
TABLE 149MICRONOVA: PRODUCT OFFERINGS173
10.1.13LHP ENGINEERING SOLUTION175
TABLE 150LHP ENGINEERING SOLUTION: COMPANY OVERVIEW175
TABLE 151LHP ENGINEERING SOLUTION: PRODUCT OFFERINGS175
10.1.14GENUEN176
TABLE 152GENUEN: COMPANY OVERVIEW176
TABLE 153GENUEN: PRODUCT OFFERINGS176
10.1.15TYPHOON HIL178
TABLE 154TYPHOON HIL: BUSINESS OVERVIEW178
TABLE 155TYPHOON HIL: PRODUCT OFFERINGS178
10.2OTHER PLAYERS180
10.2.1MODELINGTECH180
TABLE 156MODELINGTECH: COMPANY OVERVIEW180
10.2.2BLOOMY CONTROLS181
TABLE 157BLOOMY CONTROLS: COMPANY OVERVIEW181
10.2.3CONTROLLAB181
TABLE 158CONTROLLAB: COMPANY OVERVIEW181
10.2.4PICKERING INTERFACES182
TABLE 159PICKERING INTERFACES: COMPANY OVERVIEW182
10.2.5APPLUS+183
TABLE 160APPLUS+: COMPANY OVERVIEW183
10.2.6ADD2 LIMITED184
TABLE 161ADD2 LIMITED: COMPANY OVERVIEW184
10.2.7BLUEHALO184
TABLE 162BLUEHALO: COMPANY OVERVIEW184
10.2.8SIEMENS185
TABLE 163SIEMENS: COMPANY OVERVIEW185
10.2.9SPIRENT COMMUNICATIONS185
TABLE 164SPIRENT COMMUNICATIONS: COMPANY OVERVIEW185
10.2.10UAV NAVIGATION186
TABLE 165UAV NAVIGATION: COMPANY OVERVIEW186
*Details on Business overview, Products offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
11APPENDIX187
11.1DISCUSSION GUIDE187
11.2KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL189
11.3CUSTOMIZATION OPTIONS191
11.4RELATED REPORTS191
11.5AUTHOR DETAILS192

Report Title: Hardware in the Loop Market by Type (Open Loop, Closed Loop), Vertical (Automobile, Aerospace, Defense, Power Electronics, Research & Education) and Region (North America, APAC, Europe, Rest of the World) - Global Forecast to 2027


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