Hardware-in-the-loop (HIL) simulation, or HWIL, is a technique that is used in the development and test of complex real-time embedded systems. HIL simulation provides an effective platform by adding the complexity of the plant under control to the test platform.
The hardware in the loop market was valued at USD 663 Million in 2014 and is expected to grow at a CAGR of 9.07% between 2019 and 2024. Hardware-in-the-loop is mainly used in Automotive Systems, Radar, Robotics, Power Systems, Offshore Systems. The application in the automotive sector accounted for the dominant share in 2018. This market is expected to grow at a CAGR of more than 9% between 2019 and 2024. The growth is precedential due to the increasing use of hardware in the loop technique in the automotive sector for developing enhanced ECUs, reducing time to market, and complying with various industry standards.
The market for power electronics is expected to grow at a high CAGR of more than 8% between 2019 and 2024. This is mainly due to the growing awareness about the advantages of HIL and increasing use of increasing use of hardware in the loop solutions for developing and testing of electronic grids, wind turbine generators, photovoltaic inverters, nuclear power plant control systems, and many more.
Key players in global Hardware-in-the-loop market include: Typhoon, Vector Informatik GmbH, Robert Bosch, National Instruments Corp, Speedgoat GmbH, Opal-RT Technologies, Aegis Technologies Group, Siemens Plm Software, Inc, IPG Automotive GmbH, Dspace GmbH, ModelingTech Energy Technology Co., Ltd