Hardware in the Loop Market Is Forecast To Reach $826.7 Million By 2020 Automated Optical Inspection

The Hardware in the Loop Market was valued at USD 480.8 million in 2014 and is expected to grow at a CAGR of 9.37% between 2015 and 2020. The growth of this market is propelled by the ability of the HIL technology to help provide high quality output with reduced time and cost. This makes it ideal for use in a wide range of applications areas such as automotive and aerospace, where time to market is an important factor for success.

Automotive followed by aerospace are leading application sectors of the hardware in the loop market. The leading position of the automotive sector can be attributed to the fact that the HIL technology is used widely by automotive companies for developing enhanced ECUs, reducing time to market, and complying with various industry standards. The hardware in the loop technique is non-destructive and time- & cost-effective; these features help drive the growth of the hardware in the loop market in the aerospace sector. Embraer S.A. (Brazil), Honda Aircraft Company (U.S.), and Airbus Group SE (France) are some of the companies in the aerospace sector which are using HIL technique.

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The market for power electronics is expected to grow at a high CAGR during the forecast period. Companies in this sector are using the HIL technique in developing and testing of electronic grids, wind turbine generators, photovoltaic inverter, nuclear power plant control systems, and many more.

North America accounted for the largest share of the hardware in the loop market in 2014; the market in the region is expected to grow at a high CAGR between 2015 and 2020. The leading position of North America can be attributed to the demand from automotive and aerospace sectors in this region for the hardware in the loop technique. This is a result of the U.S. being amongst the leading automotive and aerospace manufacturers in the world.

One of the key restraining factors in the hardware in the loop market is the reluctance of manufacturers to invest in the HIL technique due to economic slowdown as manufacturers tend to cut down their expenses. There is a reluctance to do the investment as a substantial amount of investments are required in the initial stage of the HIL system procurement. The impact of this restraining factor will decrease with the time as the economy in slowdown-struck countries starts to recover.

The target audience:

• Technology providers
• HIL system designers and manufacturers
• Research organizations and consulting companies
• Associations, forums, and alliances related to hardware in the loop technology
• Investors
• Key players

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Provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.