According to the new research report, titled "Driving Training Simulator Market Forecast to 2028 - COVID-19 Impact and Global Analysis," published by The Insight Partners, the driving training simulator market is expected to reach US$ 2,646.73 million by 2028, registering a CAGR of 4.6% from 2022 to 2028.
The market for professional drivers is experiencing a surge in demand due to various factors, such as an increase in traffic accidents, a rise in air traffic, upcoming high-speed train projects, and substantial investments in research and development of autonomous cars. This trend drives the market's growth in developed and developing countries. North American nations, including the US, Canada, and Mexico, have highly advanced road infrastructure and quickly adopt the latest driving solutions. In the US, several renowned automobile and sports teams host sports events like Formula 1, NASCAR, and Moto GP every year, which are gaining popularity worldwide. Drivers participating in these events utilize and practice with simulator solutions.
The driving training simulator market is experiencing growth due to implementing of different projects related to advanced driver assistance systems (ADAS). The American Bar Association (ABA) reported that at least one ADAS feature was available in approximately 92.0% of new vehicles sold in the US market in May 2018. Furthermore, the regulatory environment in the US and Canada has supported the innovation and development of semi and fully autonomous vehicles, which is expected to drive growth in the driving training simulator market.
The growth of the European market for driving simulators is expected to be fueled by government initiatives, such as the use of simulators to prevent road accidents or fatalities, as demonstrated at events like the Auto Expo. In June 2022, MORAI showcased its cloud-based autonomous driving simulation technology at the Automotive Testing Expo Europe 2022, indicating further advancements in the field.
The driving training simulator market is also being driven by investments made by automotive manufacturers in developing autonomous vehicle components such as processors and sensors. These components are being tested for performance and capabilities using driving training simulators by several automotive OEMs. Furthermore, advancements in collision avoidance systems, advanced driving assistance systems (ADAS), and adaptive cruise control in the auto industry are anticipated to contribute to the market's growth in the coming years. The increasing number of research and testing activities conducted using driving simulators is also expected to create growth opportunities for the market.
The driving training simulator market is categorized into simulator type, vehicle type, end user, and geography. Based on simulator type, the market is bifurcated into compact simulator and full-scale simulator. In 2021, the full-scale simulator segment dominated the market. Compact simulators come in smaller sizes and provide advanced features. By vehicle type, the market is classified into car simulator, truck and bus driving simulator, and others. The car simulator segment dominated the market in 2021. By end-users, the market is segmented into driving training center, automotive OEM, and others. The driving training center segment dominated the market in 2021.
Key Findings of Driving Training Simulator Market Study
The driving training simulator market is categorized into five key regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America. APAC currently holds the largest market share and is expected to exhibit a higher CAGR of 6.1% during the forecast period. The region comprises some of the world's fastest-growing and leading economies, including developed nations like Japan and Australia, as well as emerging economies like India, China, Malaysia, and Vietnam. The growth of the driving training simulator market in the region is fueled by an increase in the number of driving training centers, especially in developing countries.
The driving training simulator market in North America is divided into three key regions: the US, Canada, and Mexico. The market's growth in the region can be linked to the growing adoption of electric vehicles and the increasing trend of autonomous vehicles. Europe's driving training simulator market is segmented into France, Germany, Italy, the UK, Russia, and the Rest of Europe. Europe is experiencing a surge in sports racing events, and the driving training simulator market, along with the automotive industry, is showing a positive outlook.
The driving training simulator market in the Middle East & Africa region is divided into the UAE, Saudi Arabia, South Africa, and the Rest of MEA. While Middle Eastern countries are known for being highly advanced economies, African countries are still developing. The South American driving training simulator market, on the other hand, is segmented into Brazil, Argentina, and the Rest of South America. However, the region is currently grappling with economic and political instability, adversely affecting its economic growth.
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