According to Frost & Sullivan, the hardware-in-the-loop (HIL) testing market is gaining ground based on the development of vehicles with advanced driver-assistance systems (ADAS) capabilities. Growth is driven by the need to cost-efficiently validate the number of electronic control units (ECUs) incorporated into vehicles. The automotive industry accounted for 60.7% of all industry verticals in 2020, generating $442.0 million in revenues.
By 2026, the global HIL testing market is estimated to reach $1.30 billion from $728.3 million in 2020. In addition to ADAS, aerospace and defense represents another important segment and the entry of private companies into space exploration offers new opportunities for HIL testing companies.
As with automotive, components and subsystems inside the aerospace and defense industry are becoming increasingly software defined. This embedded software requires that HIL testing be executed earlier phase of the development life cycle.
Testing solutions system integrators are the fastest-growing component of HIL solutions, followed by software and hardware. In 2020, HIL system integration accounted for 35.3% of the entire market because it offers a custom test solution containing the best HIL test solution at a competitive price.
Growth opportunities include:
- Demand for EVs and autonomous vehicles in China
- Upsurge in Defense Spending and Commercial Space Exploration
- Rise of Smart Cities
- Aviation in Emerging Markets
For further information, please visit: http://frost.ly/5hi.
Original Source: PR Newswire