Yahoo Finance 
Global Hardware in the Loop Market (2022 to 2027) - Adoption in New Application Areas Such as Power Electronics and Industrial Robotics Presents Opportunities
Global Hardware in the Loop Market
Dublin, Sept. 20, 2022 (GLOBE NEWSWIRE) -- The "Global 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) - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
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.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Hardware in the Loop Market
4.2 Hardware in the Loop Market in North America, by Country and by Vertical
4.3 Hardware in the Loop Market in Asia-Pacific, by Vertical
4.4 Hardware in the Loop Market, by Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Technological Advancements in Electric and Autonomous Vehicles
5.2.1.2 Faster Product Development with Early Stages of Testing Using Hardware in the Loop
5.2.1.3 Growing Demand in Developing Countries
5.2.2 Restraints
5.2.2.1 High Cost of Ownership and Technical Complexity in Implementation
5.2.3 Opportunities
5.2.3.1 Adoption in New Application Areas Such as Power Electronics and Industrial Robotics
5.2.4 Challenges
5.2.4.1 Complexity in Creating Real-Time Simulation
5.2.4.2 Reluctance to Invest
5.3 Value Chain Analysis
5.4 Porter's Five Forces Analysis
5.5 Key Stakeholders and Buying Criteria
5.5.1 Key Stakeholders in Buying Process
5.5.2 Buying Criteria
5.6 Ecosystem Analysis
5.7 Trends/Disruptions Impacting Customers
5.8 Case Studies
5.8.1 Modular Hardware in the Loop Test System for Automobile Ecu Testing
5.8.2 Electric Parking Brake Hardware in the Loop and Durability Test
5.8.3 Hardware in the Loop-Powered Digital Twin Model for Smart Electric Grid Research
5.8.4 Automated Validation of Radar Sensors in Automobiles
5.8.5 Developing Hardware in the Loop System for Testing Hydrogen Vehicles
5.9 Technology Analysis
5.9.1 Digital Twin
5.9.2 Virtual Environment Simulation for Autonomous Vehicles
5.10 Pricing Analysis
5.11 Trade Analysis
5.12 Patent Analysis
5.13 Tariff Analysis
5.14 Key Conferences and Events, 2022-2023
5.15 Regulatory Landscape
5.15.1 Regulatory Bodies, Government Agencies, and Other Organizations
6 Hardware in the Loop Market, by Type
6.1 Introduction
6.2 Open Loop
6.2.1 Used for Testing Simple Open-Loop Controllers
6.3 Closed Loop
6.3.1 Used to Test and Validate Complex Controllers and Control Systems in Dynamic Test Platform
7 Hardware in the Loop Market, by Vertical
7.1 Introduction
7.2 Automobile
7.2.1 Eliminate Errors in Early Stage of Vehicle Development
7.3 Aerospace
7.3.1 Hardware in the Loop Simulation Enables Testing of Ecu for Critical Systems
7.4 Defense
7.4.1 Cost-Effective and Reliable Testing of Defense Technologies
7.5 Power Electronics
7.5.1 Testing of Power Electronic Devices Crucial for Continuous Testing and Simulation of Various Scenarios in Electric Grids
7.6 Research & Education
7.6.1 Hardware in the Loop Simulation Provides Reliable Virtual Testing of Ecu for Research and Academic Studies
7.7 Others
8 Hardware in the Loop Market, by Region
9 Competitive Landscape
9.1 Overview
9.2 Market Evaluation Framework
9.2.1 Product Portfolio
9.2.2 Regional Focus
9.2.3 Manufacturing Footprint
9.2.4 Organic/Inorganic Growth Strategies
9.3 Market Share Analysis: Hardware in the Loop Market, 2021
9.4 Company Evaluation Matrix
9.4.1 Stars
9.4.2 Emerging Leaders
9.4.3 Pervasive Companies
9.4.4 Participants
9.5 Start-Up/Sme Evaluation Matrix
9.5.1 Progressive Companies
9.5.2 Responsive Companies
9.5.3 Dynamic Companies
9.5.4 Starting Blocks
9.6 Hardware in the Loop Market: Company Footprint
9.7 Competitive Benchmarking
9.8 Competitive Situations and Trends
9.8.1 Product Launches and Developments
9.8.2 Deals
10 Company Profiles
10.1 Key Players
10.1.1 Dspace
10.1.2 National Instruments
10.1.3 Vector Informatik
10.1.4 Elektrobit Automotive
10.1.5 Opal-Rt Technologies
10.1.6 Speedgoat
10.1.7 Bosch
10.1.8 Ipg Automotive
10.1.9 Acutronic
10.1.10 Plexim
10.1.11 Konrad Technologies
10.1.12 Micronova
10.1.13 Lhp Engineering Solution
10.1.14 Genuen
10.1.15 Typhoon Hil
10.2 Other Players
10.2.1 Modelingtech
10.2.2 Bloomy Controls
10.2.3 Controllab
10.2.4 Pickering Interfaces
10.2.5 Applus+
10.2.6 Add2 Limited
10.2.7 Bluehalo
10.2.8 Siemens
10.2.9 Spirent Communications
10.2.10 Uav Navigation
11 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/thllri
Attachment
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
