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Global Hardware in the Loop Market By Industry Vertical (Defense, Automotive, Aerospace, Research & Education, Power Electronics, Others), By Product Type (Open Loop HIL, Closed Loop HIL), and By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)-Global Forecast to 2027.
The hardware in the loop market size was valued at USD 0.65 Billion in 2020 and projected to reach USD 0.92 Billion by 2027, growing at a CAGR of 6.03% during the forecast period, 2020-2027.
Hardware-in-the-loop (HIL) market technology provides high-quality output, minimizes risks, is cost-effective and reduces the time needed. This, in turn, is anticipated to contribute to the hardware in the loop market growth in the forecast period.
Moreover, the growing use of these systems in aerospace and automotive applications such as airplanes, missiles, and others propel hardware growth in the loop market.
Additionally, factors such as modernization in vehicles with advanced features, the surge in demand for heavy machinery & large-size equipment and the use of HIL to reduce test overhead are anticipated to drive the global growth of the hardware in the loop market.
What is Hardware in the Loop?
Hardware in the loop (HIL) is a stimulation system that is widely used in the development and test of complex real-time embedded systems. The physical part of the HIL system is connected with the control system through actuators and sensors, where the stimulation imitates the replica of actual hardware interconnection. HIL offers an effective platform to minimize the complexity of the plant and controls the test platform.
Growth Driver
Growing demand for heavy machinery and large size equipment
The hardware in the loop market is projected to grow in the forecast period due to the increased focus on strengthening the infrastructure of many nations. The development of heavy machines and large size equipment such as heavy lift cranes require hardware in the loop stimulators to diminish the loss at the time of production of such machinery.
However, the major factors restraining the growth of the global hardware in the loop market are the increasing need for personnel safety during plant installation and the high level of complexity in hardware in the loop simulators.
Pre Covid-19 impact
Factors such as the demand for HIL systems in the automotive and aerospace sectors. The automotive industry adopts HIL technology to match various industry standards and rising use of these systems in aerospace applications like airplanes, missiles, others. Additionally, the surge in demand for heavy machinery and large-size equipment created several hardware opportunities in the loop market in the Pre-covid era.
Covid-19 impact
COVID-19 is a global public health disease that has brought serious social, medical and economic challenges in every industry. It affects all the segments of the population. The spread of COVID-19 is generating an enormous disruption in the everyday activities of people. As coronavirus crises took over the world and led to curfews and lockdown, which impacted many businesses worldwide, countries across the globe are trying to prevent further contagion by adopting various measures such as social distancing, testing, quarantine, and others.
Post Covid-19 impact
Since the COVID-19 virus pandemic in December 2019 resulted in a decrease in the demand for hardware in the loop system across several sectors. The COVID-19 pandemic directly affected production and demand by creating supply chain and market disruption for these systems. This creates many opportunities for new and small-scale players to mark their presence in the regional market and offer low-cost prices and high-quality products to the end-users. Therefore, with the outbreak of the COVID-19, the market will grow at a low rate for hardware in the loop systems across the globe, which has negatively impacted the hardware in the loop market value in 2020 and subsequent years.
Industry Vertical Segmental Analysis
Based on the industry vertical, the hardware in the loop market is segregated into defense, automotive, aerospace, research & education, power electronics and others.
The automotive segment is estimated to have the highest market share in the industry vertical for the hardware in the loop market due to the rising use of hardware in the loop technique in the automotive segment to reduce time to market and develop enhanced ECUs. However, the power electronics segment is projected to grow with a higher CAGR throughout the forecast period.
Product Type Segmental Analysis
The hardware in the loop market is categorized into open loop HIL and closed-loop HIL based on product type.
The open-loop HIL segment held a significant market share in 2019 as it is simple & easy to use, stable in operation and provides a replay of model-generated data. In contrast, closed-loop HIL provides a model-based stimulation of the physical environment and traffic with feedback signals from the device.
Region Segmental Analysis
The hardware in the loop market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
North America is estimated to project considerable growth over 2020-2026. It is due to the growing demand from aerospace, automobile and radar sectors in this region.
The Asia Pacific will share the hardware in the loop market by 2027, owing to the use of loop stimulators in automotive production. These are the factors driving the market growth for hardware in the loop in the region.
Competitor Analysis
Companies include Speedgoat GmbH, National Instruments Corp., Honda Aircraft Company, DSpace GmbH, Robert Bosch Engineering, IPG Automotive GmbH, Aegis Technologies Group, Vector Informatik, MicroNova AG, and Siemens are the key players in the hardware in the loop market.
Key Stakeholders
- Market research and consulting firms
- HIL system designers and manufacturers
- Investors
- Associations and alliances related to hardware in the loop technology
- Research organizations and consulting companies
- Technology providers
- Regulatory bodies
Scope of the Report
| Report Attribute | Details |
|---|---|
| Market Size Value in 2020 | USD 0.65 Billion |
| The revenue forecast in 2027 | USD 0.92 Billion |
| Growth Rate | CAGR of 6.03% from 2020 to 2027 |
| Historical data | 2017-2019 |
| Forecast period | 2021 – 2027 |
| Region covered | America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Key companies Profiled | Key companies Profiled Speedgoat GmbH, National Instruments Corp., Honda Aircraft Company, DSpace GmbH, Robert Bosch Engineering, IPG Automotive GmbH, Aegis Technologies Group, Vector Informatik, MicroNova AG, and Siemens |
Market Modelling
By Industry Vertical
- Defense
- Automotive
- Aerospace
- Research & Education
- Power Electronics
- Others
By Product Type
- Open Loop HIL
- Closed-Loop HIL
By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
Global Hardware in the Loop Market
Report Content
- Research Strategic Development
- Market Modelling
- Product Analysis
- Market Trend and Economic Factors Analysis
- Market Segmental Analysis
- Geographical Mapping
- Country Wise Segregation
- Research Methodology
- Identification of Target Market
- Data Acquisition
- Refining of Data/ Data Transformations
- Data Validation through Primary Techniques
- Exploratory Data Analysis
- Graphical Techniques/Analysis
- Quantitative Techniques/Analysis
- Visual Result/Presentation
- Executive Summary
- Market Insights
- Supply Chain Analysis
- Economic Factor Analysis
- Drivers
- Trends
- Opportunities
- Challenges
- Technological Landscape
- Competitors & Product Analysis
- Regulatory Framework
- Company market share analysis, 2019
- Porter’s Five forces analysis
- New Investment Analysis
- PESTEL Analysis
- Pre Covid-19 Impact
- Covid-19 Impact
- Post Covid-19 Impact
- Global Hardware in the Loop Market Overview
- Market Size & Forecast, 2020-2027
- Demand
- By Value (USD Billion)
- Consumption
- Demand
- Market Share & Forecast, 2020-2027
- By Industry Vertical
- Defense
- Automotive
- Aerospace
- Research & Education
- Power Electronics
- Others
- By Product Type
- Open Loop HIL
- Closed-Loop HIL
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Industry Vertical
- Market Size & Forecast, 2020-2027
- North America Hardware in the Loop Market Overview
- North America Hardware in the Loop Market Size & Forecast, 2020-2027
- Demand
- By Value (USD Billion)
- Consumption
- Demand
- North America Hardware in the Loop Market Share & Forecast, 2020-2027
- By Industry Vertical
- Defense
- Automotive
- Aerospace
- Research & Education
- Power Electronics
- Others
- By Product Type
- Open Loop HIL
- Closed-Loop HIL
- By Country
- US
- Canada
- Mexico
- Price-Point Analysis
- Manufacturer & Distributor List (Top 5)
- Company Market Share (Top 3-5)
- Economic Impact Study on North America Hardware in the Loop Market
- By Industry Vertical
- North America Hardware in the Loop Market Size & Forecast, 2020-2027
- Europe Hardware in the Loop Market Overview
- Europe Hardware in the Loop Market Size & Forecast, 2020-2027
- Demand
- By Value (USD Billion)
- Consumption
- Demand
- Europe Hardware in the Loop Market Share & Forecast, 2020-2027
- By Industry Vertical
- Defense
- Automotive
- Aerospace
- Research & Education
- Power Electronics
- Others
- By Product Type
- Open Loop HIL
- Closed-Loop HIL
- By Country
- Germany
- UK
- France
- Italy
- Rest of Europe
- Price-Point Analysis
- Manufacturer & Distributor List (Top 5)
- Company Market Share (Top 3-5)
- Economic Impact Study on Europe Hardware in the Loop Market
- By Industry Vertical
- Europe Hardware in the Loop Market Size & Forecast, 2020-2027
- Asia Pacific Hardware in the Loop Testing Market Overview
- Asia Pacific Hardware in the Loop Market Size & Forecast, 2020-2027
- Demand
- By Value (USD Billion)
- Consumption
- Demand
- Asia Pacific Hardware in the Loop Market Share & Forecast, 2020-2027
- By Industry Vertical
- Defense
- Automotive
- Aerospace
- Research & Education
- Power Electronics
- Others
- By Product Type
- Open Loop HIL
- Closed-Loop HIL
- By Country
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
- Price-Point Analysis
- Manufacturer & Distributor List (Top 5)
- Company Market Share (Top 3-5)
- Economic Impact Study on Asia Pacific Hardware in the Loop Market
- By Industry Vertical
- Asia Pacific Hardware in the Loop Market Size & Forecast, 2020-2027
- South America Hardware in the Loop Market Overview
- South America Hardware in the Loop Market Size & Forecast, 2020-2027
- Demand
- By Value (USD Billion)
- Consumption
- Demand
- South America Hardware in the Loop Market Share & Forecast, 2020-2027
- By Industry Vertical
- Defense
- Automotive
- Aerospace
- Research & Education
- Power Electronics
- Others
- By Product Type
- Open Loop HIL
- Closed-Loop HIL
- By Country
- Brazil
- Argentina
- Rest of South America
- Price-Point Analysis
- Manufacturer & Distributor List (Top 5)
- Company Market Share (Top 3-5)
- Economic Impact Study on South America Hardware in the Loop Market
- By Industry Vertical
- South America Hardware in the Loop Market Size & Forecast, 2020-2027
- Middle East & Africa Hardware in the Loop Market Overview
- Middle East & Africa Hardware in the Loop Market Size & Forecast, 2020-2027
- Demand
- By Value (USD Billion)
- Consumption
- Demand
- Middle East & Africa Hardware in the Loop Market Share & Forecast, 2020-2027
- By Industry Vertical
- Defense
- Automotive
- Aerospace
- Research & Education
- Power Electronics
- Others
- By Product Type
- Open Loop HIL
- Closed-Loop HIL
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
- Price-Point Analysis
- Manufacturer & Distributor List (Top 5)
- Company Market Share (Top 3-5)
- Economic Impact Study on Middle East & Africa Hardware in the Loop Market
- By Industry Vertical
- Middle East & Africa Hardware in the Loop Market Size & Forecast, 2020-2027
- Competitor Analysis
- Company Description
- Financial Analysis
- Key Products
- Key Management Personnel
- Contact Address
- SWOT Analysis
- Company Profile
- Speedgoat GmbH
- National Instruments Corp.
- Honda Aircraft Company
- DSpace GmbH
- Robert Bosch Engineering
- IPG Automotive GmbH
- Aegis Technologies Group
- Vector Informatik
- MicroNova AG
- Siemens
- Other Prominent Players
Frequently Asked Questions (FAQ):
Hardware in the loop (HIL) is a stimulation system that is widely used in the development and test of complex real-time embedded systems. It .offers an effective platform to minimize the complexity of the plant and controls the test platform.
The hardware in the loop market size was valued at USD 0.65 Billion in 2020 and projected to reach USD 0.92 Billion by 2027, growing at a CAGR of 6.03% during the forecast period, 2020-2027.
The segments covered in the hardware in the loop market are industry vertical, product type, and region.
The hardware in the loop market is expected to grow significantly due to the growing use of HIL systems in aerospace and automotive applications and the surge in demand for heavy machinery & large-size equipment.
North America is expected to project considerable growth over 2020-2026 due to the growing demand from this region’s aerospace, automobile and radar sectors.
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