ハードウェアインザループ(HIL)市場 – 2030年までの世界予測

Hardware in the Loop Market - Global Forecast To 2030

ハードウェアインザループ(HIL)市場 - 提供サービス(ハードウェア、ソフトウェア、コンサルティング、システム設計、システム統合、保守、サポート)、タイプ(オープンループ、クローズドループ)、業種および地域別 - 2030年までの世界予測
Hardware in the Loop Market by Offering (Hardware, Software and Consulting and System Design, System Integration, Maintenance and Support)), Type (Open Loop, Closed Loop), Vertical and Region - Global Forecast to 2030

商品番号 : SMB-19949

出版社MarketsandMarkets
出版年月2025年4月
ページ数243
図表数324
価格タイプシングルユーザライセンス
価格USD 4,950
種別英文調査報告書

本レポートでは、ハードウェアインザループ(HIL)市場をセグメント化し、提供内容、タイプ、業種、地域に基づいて、金額ベースで市場規模を予測しています。また、ハードウェアインザループ(HIL)市場における市場牽引要因、制約要因、機会、課題についても包括的に分析しています。さらに、これらの市場の定量的側面に加えて、定性的な側面も網羅しています。

The hardware in the loop market is estimated to be valued at USD 1,001.7 million in 2024 and is projected to reach USD 1,784.4 million by 2030, growing at a CAGR of 10.1% from 2025 to 2030.

ハードウェアインザループ(HIL)市場は、2024年に10億170万米ドルに達すると推定され、2025年から2030年にかけて年平均成長率10.1%で成長し、2030年までに17億8,440万米ドルに達すると予測されています。

ハードウェアインザループ(HIL)市場 - 2030年までの世界予測
hardware-loop-market

The hardware-in-the-loop (HIL) industry is growing due to several factors, such as the increasing complexity of embedded systems, the growing adoption of electric and autonomous vehicles, and the need for faster and cheaper ways to validate products. Furthermore, advances in real-time simulation and digital twin, as well as increasing regulatory pressure to meet safety and compliance, are also driving the market growth. The initial investment for the setup is high, and there is also a need for specialized personnel. Issues with integration into legacy business systems are also a major restraint and may limit widespread adoption among smaller organizations or in emerging markets.

ハードウェアインザループ(HIL)業界は、組み込みシステムの複雑性の増大、電気自動車や自動運転車の普及拡大、製品検証のより迅速で低コストな方法へのニーズなど、様々な要因により成長を続けています。さらに、リアルタイムシミュレーションやデジタルツインの進歩、そして安全性とコンプライアンスへの対応を求める規制圧力の高まりも、市場の成長を牽引しています。導入には初期投資が高額で、専門の人材も必要です。また、従来の業務システムとの統合に関する問題も大きな制約となっており、小規模組織や新興市場での普及を阻む可能性があります。

“Software offering segment to register highest growth during forecast period”

The software segment is expected to grow at the highest CAGR in the hardware-in-the-loop (HIL) market during the forecast period due to its increasing role in enabling flexibility, scalability, and intelligence in real-time simulation systems. As embedded systems become more complex, particularly in electric vehicles, autonomous driving, aerospace systems, and renewable energy, there is a rising demand for advanced simulation, automation, and control software that can accurately model real-world conditions and system behavior. Software ecosystems also enable the integration of digital twins, algorithms, and the use of machine learning-based automation for testing efforts, improving testing efficiency and reducing time-to-market significantly.

“Open Loop: The largest type in hardware in the loop market”

The open loop segment is projected to account for the largest share of hardware-in-the-loop (HIL) market during the forecast period. These systems are commonly used in both early-stage development and cost-conscious scenarios. Open-loop HIL systems have a simpler and less expensive setup than closed-loop systems, which creates significant appeal within applications where response time does not require immediate feedback.

ハードウェアインザループ(HIL)市場 - 2030年までの世界予測 region
hardware-loop-market-region

“Asia Pacific to be fastest-growing market during forecast period“

It is anticipated that the hardware-in-the-loop (HIL) market in the Asia Pacific region will achieve the highest CAGR during the forecast period due to rapid industrial growth, rising investments in electric vehicles (EVs), and strong government support for automation and innovation. Countries such as China, India, Japan, and South Korea are all investing significantly in advanced technologies in the automotive, aerospace, and energy domains that are all supported by real-time simulation and testing capabilities of HIL systems.

The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:

  • By Company Type: Tier 1 – 40%, Tier 2 – 25%, and Tier 3 – 35%
  • By Designation: C-level Executives – 35%, Directors – 28%, and Others – 37%
  • By Region: Europe – 45%, North America – 30%, APAC – 20%, RoW – 5%

dSPACE GmbH (Germany), Emerson Electric Co. (US), Vector Informatik GmbH (Germany), Elektrobit (Germany), OPAL-RT Technologies (Canada), Speedgoat GmbH (Switzerland), Robert Bosch GmbH (Germany), IPG Automotive GmbH (Germany), Acutronic Holding AG (Switzerland),  and Konrad GmbH (Germany) are among the many players in the hardware in the loop market.

ハードウェアインザループ(HIL)市場 - 2030年までの世界予測 ecosystem
hardware-loop-market-ecosystem

Research Coverage:

The report segments the hardware in the loop market and forecasts its size, by value, based on offering, type, vertical, and region. The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the hardware in the loop market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.

Reason to buy this Report

The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the hardware in the loop market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

  • Analysis of key drivers (Technological advancement in electric and autonomous vehicles), restraints (High cost of ownership and technical complexity in implementation), opportunities (Adoption in new application area such as power electronics and industrial robotics), and challenges (Complexity in creating real time simulation) influencing the growth of the hardware in the loop market.
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the hardware in the loop market
  • Market Development: Comprehensive information about lucrative markets – the report analyses the hardware in the loop market across varied regions
  • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the hardware in the loop market
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and offerings of leading players, such as dSPACE GmbH (Germany), Emerson Electric Co. (US), Vector Informatic GmbH (Germany), Elektrobit (Germany), and OPAL-RT Technologies (Canada), in the hardware in the loop market.

Table of Contents

1               INTRODUCTION              26

1.1           STUDY OBJECTIVES       26

1.2           DEFINITION      26

1.3           STUDY SCOPE   27

1.3.1        MARKETS COVERED AND REGIONAL SCOPE      27

1.3.2        INCLUSIONS AND EXCLUSIONS 28

1.3.3        YEARS CONSIDERED      28

1.4           CURRENCY          28

1.5           STAKEHOLDERS               29

1.6           SUMMARY OF CHANGES               29

2               RESEARCH METHODOLOGY       30

2.1           INTRODUCTION              30

2.1.1        SECONDARY AND PRIMARY RESEARCH 32

2.1.2        SECONDARY DATA          32

2.1.2.1    List of major secondary sources         32

2.1.2.2    Key data from secondary sources       33

2.1.3        PRIMARY DATA 33

2.1.3.1    Key data from primary sources           33

2.1.3.2    List of key primary interview participants        34

2.1.3.3    Breakdown of primaries      34

2.1.3.4    Key industry insights           34

2.2           MARKET SIZE ESTIMATION         35

2.2.1        BOTTOM-UP APPROACH              36

2.2.1.1    Approach for arriving at market size using bottom-up analysis                 36

2.2.2        TOP-DOWN APPROACH                37

2.2.2.1    Approach for arriving at market size using top-down analysis                 37

2.3           DATA TRIANGULATION                38

2.4           RESEARCH ASSUMPTIONS           39

2.5           LIMITATIONS    39

2.6           RISK ASSESSMENT           40

3               EXECUTIVE SUMMARY  41

4               PREMIUM INSIGHTS       44

4.1           ATTRACTIVE OPPORTUNITIES IN HARDWARE IN THE LOOP MARKET 44

4.2          HARDWARE IN THE LOOP MARKET IN NORTH AMERICA, BY COUNTRY AND BY VERTICAL               45

4.3           HARDWARE IN THE LOOP MARKET, BY VERTICAL                 45

4.4           HARDWARE IN THE LOOP MARKET, BY COUNTRY                 46

5               MARKET OVERVIEW       47

5.1           INTRODUCTION              47

5.2           MARKET DYNAMICS       47

5.2.1        DRIVERS               48

5.2.1.1    Technological advancements in electric and autonomous vehicles                 48

5.2.1.2    Increasing adoption in early product development phase                 48

5.2.1.3    Growing demand in developing countries        49

5.2.2        RESTRAINTS      50

5.2.2.1    High cost of ownership and technical complexity in implementation     50

5.2.3        OPPORTUNITIES              50

5.2.3.1    Adoption in power electronics and industrial robotics   50

5.2.4        CHALLENGES    51

5.2.4.1    Complexity in creating real-time simulation    51

5.2.4.2    Limited investments due to lack of awareness 51

5.3           VALUE CHAIN ANALYSIS               52

5.4           PORTER’S FIVE FORCES ANALYSIS            53

5.4.1        INTENSITY OF COMPETITIVE RIVALRY 54

5.4.2        BARGAINING POWER OF SUPPLIERS       55

5.4.3        BARGAINING POWER OF BUYERS             55

5.4.4        THREAT OF NEW ENTRANTS      55

5.4.5        THREAT OF SUBSTITUTES          56

5.5           KEY STAKEHOLDERS AND BUYING CRITERIA     56

5.5.1        KEY STAKEHOLDERS IN BUYING PROCESS           56

5.5.2        BUYING CRITERIA           57

5.6           ECOSYSTEM ANALYSIS  58

5.7           TRENDS/DISRUPTIONS IMPACTING CUSTOMERS                 59

5.8           CASE STUDIES  60

5.8.1        MODULAR HARDWARE IN THE LOOP TEST SYSTEM FOR

AUTOMOBILE ECU TESTING      60

5.8.2        HARDWARE IN THE LOOP AND DURABILITY TESTING FOR

ELECTRIC PARKING BRAKES      60

5.8.3        HARDWARE IN THE LOOP-POWERED DIGITAL TWIN MODEL FOR

SMART ELECTRIC GRID RESEARCH          61

5.8.4        AUTOMATED VALIDATION OF RADAR SENSORS IN AUTOMOBILES 61

5.8.5        DEVELOPING HARDWARE IN THE LOOP SYSTEM FOR TESTING

HYDROGEN VEHICLES  61

5.9           TECHNOLOGY ANALYSIS             62

5.9.1        KEY TECHNOLOGIES     62

5.9.1.1    Cloud hardware-in-the-loop                62

5.9.2        COMPLEMENTARY TECHNOLOGIES       62

5.9.2.1    Digital twin            62

5.9.3        ADJACENT TECHNOLOGIES       62

5.9.3.1    Software-in-the-loop            62

5.10         PRICING ANALYSIS          62

5.10.1      AVERAGE SELLING PRICE OF HARDWARE IN THE LOOP TEST SYSTEM, 2024          63

5.10.2      AVERAGE SELLING PRICE TREND OF HARDWARE IN THE LOOP TEST SYSTEM, BY REGION, 2021 TO 2024         64

5.11         TRADE ANALYSIS             65

5.11.1      IMPORT SCENARIO (HS CODE 9031)        65

5.11.2      EXPORT SCENARIO (HS CODE 9031)        66

5.12         TARIFF AND REGULATORY LANDSCAPE               67

5.12.1      TARIFF ANALYSIS             67

5.12.2      REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS  68

5.13         PATENT ANALYSIS          72

5.14         KEY CONFERENCES AND EVENTS, 2025–2026        76

5.15         IMPACT OF AI/GEN AI ON HARDWARE IN THE LOOP MARKET               77

5.16         INVESTMENT AND FUNDING SCENARIO               77

5.17         2025 US TARIFF IMPACT ON HARDWARE IN THE LOOP MARKET               78

5.17.1      INTRODUCTION              78

5.17.2      KEY TARIFF RATES          78

5.17.3      PRICE IMPACT ANALYSIS             80

5.17.4      IMPACT ON COUNTRIES/REGIONS         81

5.17.4.1  US           81

5.17.4.2  Europe   81

5.17.4.3  Asia Pacific            81

5.17.5      IMPACT ON END-USE INDUSTRIES          82

6               HARDWARE IN THE LOOP MARKET, BY OFFERING                 83

6.1           INTRODUCTION              84

6.2           HARDWARE        85

6.2.1        DEMAND FOR SYSTEM PERFORMANCE WITH SCALABLE HARDWARE TO DRIVE MARKET                85

6.3           SOFTWARE         86

6.3.1        INCREASING DEMAND FOR ENABLING SCALABLE AND INTELLIGENT

HIL SIMULATIONS TO DRIVE SEGMENT GROWTH            86

6.4           SERVICES             86

6.4.1        INCREASING DEMAND FOR SYSTEM INTEGRATION TO

DRIVE MARKET GROWTH            86

6.4.1.1    Consulting and system design            86

6.4.1.2    System integration                86

6.4.1.3    Maintenance and support   87

7               HARDWARE IN THE LOOP MARKET, BY TYPE     88

7.1           INTRODUCTION              89

7.2           OPEN LOOP       90

7.2.1        APPLICATIONS IN SIMPLE OPEN-LOOP CONTROLLERS TESTING TO

DRIVE MARKET GROWTH            90

7.3           CLOSED LOOP  91

7.3.1        ADOPTION IN COMPLEX CONTROLLERS & CONTROL SYSTEMS IN

DYNAMIC TEST PLATFORM TO DRIVE DEMAND               91

8               HARDWARE IN THE LOOP MARKET, BY VERTICAL                 93

8.1           INTRODUCTION              94

8.2           AUTOMOBILE   96

8.2.1        TECHNOLOGICAL ADVANCES IN AUTOMOTIVE SECTOR FUELING DEMAND FOR FAST AND RESPONSIVE TESTING              96

8.3           AEROSPACE       103

8.3.1        NEED FOR RAPID DEVELOPMENT OF ECU SOFTWARE AND SIMULTANEOUS VERIFICATION OF CONTROL SYSTEMS TO DRIVE MARKET         103

8.4           DEFENSE             109

8.4.1        OFFERS COST-EFFECTIVE AND RELIABLE TESTING OF

DEFENSE TECHNOLOGIES           109

8.5           POWER ELECTRONICS  115

8.5.1        NEED FOR ONGOING TESTING AND SIMULATION OF DIFFERENT SCENARIOS WITHIN ELECTRIC GRIDS TO DRIVE MARKET               115

8.6           RESEARCH & EDUCATION           121

8.6.1        OFFERS RELIABLE VIRTUAL TESTING OF ECU FOR RESEARCH AND

ACADEMIC STUDIES      121

8.7           RENEWABLE ENERGY    127

8.7.1        OFFERS RELIABLE VIRTUAL TESTING OF SOLAR POWER PLANTS FOR RENEWABLE ENERGY         127

8.8           OTHER VERTICALS         133

9               HARDWARE IN THE LOOP MARKET, BY REGION                 140

9.1           INTRODUCTION              141

9.2           NORTH AMERICA             142

9.2.1        US           145

9.2.1.1    Presence of strong aerospace sector fueling market growth                 145

9.2.2        CANADA               146

9.2.2.1    Growth of electric vehicles industry to boost demand for hardware in the loop testing of equipment and control systems   146

9.2.3        MEXICO                147

9.2.3.1    Growing investments from automobile manufacturers to

propel demand      147

9.2.4        MACROECONOMIC OUTLOOK FOR NORTH AMERICA                 148

9.3           EUROPE               149

9.3.1        UK          151

9.3.1.1    Development of power infrastructure and integration of renewable energy sources to boost demand     151

9.3.2        GERMANY           152

9.3.2.1    Presence of leading automobile companies to drive market                 152

9.3.3        FRANCE                153

9.3.3.1    Increasing adoption of robotics to fuel demand for testing

and simulation      153

9.3.4        ITALY    154

9.3.4.1    Increasing technology adoption in automotive sector to support market growth       154

9.3.5        SPAIN    155

9.3.5.1    Increasing adoption of renewable energy to drive market growth                 155

9.3.6        POLAND               156

9.3.6.1    Adoption of Industry 4.0 platform to drive demand       156

9.3.7        NORDICS             157

9.3.7.1    Increasing trend of green technology adoption to drive market                 157

9.3.8        REST OF EUROPE             158

9.3.9        MACROECONOMIC OUTLOOK FOR EUROPE      159

9.4           ASIA PACIFIC     160

9.4.1        CHINA  163

9.4.1.1    Strong presence of manufacturing industry to fuel market growth                 163

9.4.2        INDIA    164

9.4.2.1    Expansion of electric vehicle industry to create demand for testing and simulation         164

9.4.3        JAPAN   165

9.4.3.1    Growth of power electronics sector to support market growth                 165

9.4.4        SOUTH KOREA  166

9.4.4.1    Growth of automotive sector to drive demand 166

9.4.5        INDONESIA        167

9.4.5.1    Growing demand for advanced testing in automotive sector

to drive market      167

9.4.6        AUSTRALIA         168

9.4.6.1    Expansion of electric vehicle industry to fuel market growth                 168

9.4.7        MALAYSIA           169

9.4.7.1    Government initiatives to support smart manufacturing to

drive market          169

9.4.8        THAILAND          170

9.4.8.1    Government initiatives to strengthen digital infrastructure and promote technological innovation to fuel market growth               170

9.4.9        VIETNAM             171

9.4.9.1    Government initiatives to enhance simulation and testing techniques to support market growth                171

9.4.10      REST OF ASIA PACIFIC   172

9.4.11      MACROECONOMIC OUTLOOK FOR ASIA PACIFIC                 173

9.5           ROW      173

9.5.1        SOUTH AMERICA             174

9.5.1.1    Development of EV industry to increase demand for hardware in the loop solutions 174

9.5.2        MIDDLE EAST   175

9.5.2.1    Growing adoption of EVs to support market growth      175

9.5.2.2    Bahrain  176

9.5.2.2.1 Growing automotive and industrial automation sectors to drive market    176

9.5.2.3    Kuwait    177

9.5.2.3.1 Investments in smart infrastructure and digitalization to support market growth       177

9.5.2.4    Qatar      177

9.5.2.4.1 Smart city and IoT infrastructure projects fueling HIL testing                 177

9.5.2.5    Oman     177

9.5.2.5.1 Growing infrastructure and manufacturing activities to fuel adoption of hardware in the loop test systems 177

9.5.2.6    Saudi Arabia          177

9.5.2.6.1 Push for development of autonomous and electric vehicles sector fueling demand     177

9.5.2.7    UAE        178

9.5.2.7.1 Digitalization in manufacturing sector propelling

market growth       178

9.5.3        AFRICA 178

9.5.3.1    Industrial modernization and need for efficient, cost-effective testing to support market growth       178

9.5.3.2    South Africa           179

9.5.3.2.1 Government support for technological advancement to support market growth       179

9.5.3.3    Other African countries      179

9.5.3.3.1 Expansion of automotive testing facilities and push for safer, locally produced vehicles fueling demand         179

9.5.4        MACROECONOMIC OUTLOOK FOR ROW              180

10            COMPETITIVE LANDSCAPE         181

10.1         OVERVIEW          181

10.2         KEY STRENGTHS/RIGHT TO WIN, 2021–2025        181

10.3         REVENUE ANALYSIS, 2022–2024  182

10.4         MARKET SHARE ANALYSIS, 2024                 183

10.5         COMPANY VALUATION AND FINANCIAL METRICS, 2025                 185

10.6         BRAND/PRODUCT COMPARISON             187

10.7         COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024                 188

10.7.1      STARS   188

10.7.2      EMERGING LEADERS     188

10.7.3      PERVASIVE COMPANIES                188

10.7.4      PARTICIPANTS 188

10.7.5      COMPANY FOOTPRINT: KEY PLAYERS, 2024         190

10.7.5.1  Company footprint               190

10.7.5.2  Region footprint   191

10.7.5.3  Type footprint       192

10.7.5.4  Vertical footprint  193

10.8         COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024        194

10.8.1      PROGRESSIVE COMPANIES         194

10.8.2      RESPONSIVE COMPANIES            194

10.8.3      DYNAMIC COMPANIES  194

10.8.4      STARTING BLOCKS         194

10.8.5      COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024                 196

10.8.5.1  Detailed list of key startups/SMEs    196

10.8.5.2  Competitive benchmarking of key startups/SMEs          197

10.9         COMPETITIVE SCENARIO             198

10.9.1      PRODUCT LAUNCHES   198

10.9.2      DEALS  198

10.9.3      OTHER DEVELOPMENTS              199

11            COMPANY PROFILES      200

11.1         KEY PLAYERS     200

11.1.1      DSPACE                200

11.1.1.1  Business overview 200

11.1.1.2  Products/Solutions/Services offered 200

11.1.1.3  Recent developments           201

11.1.1.3.1                Deals      201

11.1.1.4  MnM view              202

11.1.1.4.1                Key strengths        202

11.1.1.4.2                Strategic choices   202

11.1.1.4.3                Weaknesses and competitive threats 203

11.1.2      EMERSON ELECTRIC CO.              204

11.1.2.1  Business overview 204

11.1.2.2  Products/Solutions/Services offered 205

11.1.2.3  Recent developments           206

11.1.2.3.1                Product launches  206

11.1.2.3.2                Deals      207

11.1.2.4  MnM view              208

11.1.2.4.1                Key strengths        208

11.1.2.4.2                Strategic choices   208

11.1.2.4.3                Weaknesses and competitive threats 208

11.1.3      VECTOR INFORMATIK  209

11.1.3.1  Business overview 209

11.1.3.2  Products/Solutions/Services offered 209

11.1.3.3  Recent developments           210

11.1.3.3.1                Product launches  210

11.1.3.3.2                Deals      210

11.1.3.4  MnM view              211

11.1.3.4.1                Key strengths        211

11.1.3.4.2                Strategic choices   211

11.1.3.4.3                Weaknesses and competitive threats 211

11.1.4      ELEKTROBIT AUTOMOTIVE       212

11.1.4.1  Business overview 212

11.1.4.2  Products/Solutions/Services offered 212

11.1.4.3  Recent developments           213

11.1.4.3.1                Deals      213

11.1.4.3.2                Other developments             213

11.1.4.4  MnM view              213

11.1.4.4.1                Key strengths        213

11.1.4.4.2                Strategic choices   214

11.1.4.4.3                Weaknesses and competitive threats 214

11.1.5      OPAL-RT TECHNOLOGIES           215

11.1.5.1  Business overview 215

11.1.5.2  Products/Solutions/Services offered 215

11.1.5.3  Recent developments           216

11.1.5.3.1                Deals      216

11.1.5.3.2                Expansions             216

11.1.5.4  MnM view              216

11.1.5.4.1                Key strengths        216

11.1.5.4.2                Strategic choices   217

11.1.5.4.3                Weaknesses and competitive threats 217

11.1.6      SPEEDGOAT      218

11.1.6.1  Business overview 218

11.1.6.2  Products/Solutions/Services offered 218

11.1.6.3  Recent developments           219

11.1.6.3.1                Product launches  219

11.1.6.3.2                Deals      219

11.1.7      BOSCH SOFTWARE PRIVATE LIMITED   220

11.1.7.1  Business overview 220

11.1.7.2  Products/Solutions/Services offered 220

11.1.8      TYPHOON HIL  221

11.1.8.1  Business overview 221

11.1.8.2  Products/Solutions/Services offered 221

11.1.8.3  Recent developments           222

11.1.8.3.1                Product launches  222

11.1.9      IPG AUTOMOTIVE           223

11.1.9.1  Business overview 223

11.1.9.2  Products/Solutions/Services offered 223

11.1.9.3  Recent developments           224

11.1.9.3.1                Product launches  224

11.1.9.3.2                Other developments             224

11.1.10   ACUTRONIC       225

11.1.10.1                 Business overview 225

11.1.10.2                 Products/Solutions/Services offered 225

11.1.10.3                 Recent developments           226

11.1.10.3.1             Expansions             226

11.1.11   PLEXIM 227

11.1.11.1                 Business overview 227

11.1.11.2                 Products offered   227

11.2         OTHER PLAYERS              228

11.2.1      GENUEN              228

11.2.2      LHP, INC.             228

11.2.3      MICRONOVA      229

11.2.4      KONRAD TECHNOLOGIES           230

11.2.5      MODELINGTECH             231

11.2.6      BLOOMY CONTROLS     232

11.2.7      CONTROLLAB   232

11.2.8      PICKERING INTERFACES               233

11.2.9      APPLUS+              233

11.2.10   ADD2 LIMITED 234

11.2.11   BLUEHALO         234

11.2.12   SIEMENS              235

11.2.13   SPIRENT COMMUNICATIONS    235

11.2.14   UAV NAVIGATION           236

12            APPENDIX           237

12.1         DISCUSSION GUIDE        237

12.2         KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL                239

12.3         CUSTOMIZATION OPTIONS        241

12.4         RELATED REPORTS         241

12.5         AUTHOR DETAILS           242

LIST OF TABLES

TABLE 1                RESEARCH ASSUMPTIONS: HARDWARE IN THE LOOP MARKET 39

TABLE 2                LIMITATIONS AND ASSOCIATED RISKS 40

TABLE 3                HARDWARE IN THE LOOP MARKET: IMPACT OF PORTER’S FIVE FORCES 53

TABLE 4                INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR

TOP THREE VERTICALS (%)        56

TABLE 5                KEY BUYING CRITERIA FOR TOP THREE VERTICALS         57

TABLE 6                HARDWARE IN THE LOOP MARKET: ROLE OF PLAYERS IN ECOSYSTEM              58

TABLE 7                AVERAGE SELLING PRICE OF HARDWARE IN THE LOOP TEST SYSTEM PROVIDED

BY KEY PLAYERS, 2024 (USD)      63

TABLE 8                AVERAGE SELLING PRICE TREND OF HARDWARE IN THE LOOP TEST SYSTEM,

BY REGION, 2021 TO 2024              64

TABLE 9                IMPORT DATA FOR HS CODE 9031-COMPLIANT PRODUCTS, BY COUNTRY,

2020–2024, (USD THOUSAND)     65

TABLE 10              EXPORT DATA FOR HS CODE 9031-COMPLIANT PRODUCTS, BY COUNTRY,

2020–2024 (USD THOUSAND)      66

TABLE 11              MFN TARIFFS FOR MEASURING OR CHECKING INSTRUMENTS, APPLIANCES,

AND MACHINES IMPORTED BY CHINA  67

TABLE 12              MFN TARIFFS FOR MEASURING OR CHECKING INSTRUMENTS, APPLIANCES,

AND MACHINES IMPORTED BY US           67

TABLE 13              MFN TARIFF FOR MEASURING OR CHECKING INSTRUMENTS, APPLIANCES,

AND MACHINES IMPORTED BY GERMANY           67

TABLE 14              MFN TARIFF FOR MEASURING OR CHECKING INSTRUMENTS, APPLIANCES,

AND MACHINES IMPORTED BY INDIA   68

TABLE 15              NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS  68

TABLE 16              EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS  69

TABLE 17              ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS  70

TABLE 18              MAJOR PATENTS IN HARDWARE IN THE LOOP MARKET, 2015–2025          73

TABLE 19              HARDWARE IN THE LOOP MARKET: LIST OF CONFERENCES AND EVENTS     76

TABLE 20              US-ADJUSTED RECIPROCAL TARIFF RATES                 78

TABLE 21              HARDWARE IN THE LOOP MARKET, BY OFFERING, 2021–2024 (USD MILLION)     85

TABLE 22              HARDWARE IN THE LOOP MARKET, BY OFFERING, 2025–2030 (USD MILLION)     85

TABLE 23              HARDWARE IN THE LOOP MARKET, BY OFFERING, 2021–2024 (THOUSAND UNITS)          85

TABLE 24              HARDWARE IN THE LOOP MARKET, BY OFFERING, 2025–2030 (THOUSAND UNITS)          86

TABLE 25              SERVICES: HARDWARE IN THE LOOP MARKET, BY TYPE,

2021–2024 (USD MILLION)            87

TABLE 26              SERVICES: HARDWARE IN THE LOOP MARKET, BY TYPE,

2025–2030 (USD MILLION)            87

TABLE 27              HARDWARE IN THE LOOP MARKET, BY TYPE, 2021–2024 (USD MILLION)            89

TABLE 28              HARDWARE IN THE LOOP MARKET, BY TYPE, 2025–2030 (USD MILLION)            90

TABLE 29             OPEN LOOP: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            91

TABLE 30             OPEN LOOP: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            91

TABLE 31              CLOSED LOOP: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            92

TABLE 32              CLOSED LOOP: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            92

TABLE 33              HARDWARE IN THE LOOP MARKET, BY VERTICAL, 2021–2024 (USD MILLION)     95

TABLE 34              HARDWARE IN THE LOOP MARKET, BY VERTICAL, 2025–2030 (USD MILLION)     96

TABLE 35              AUTOMOBILE: HARDWARE IN THE LOOP MARKET, BY REGION,

2021–2024 (USD MILLION)            97

TABLE 36              AUTOMOBILE: HARDWARE IN THE LOOP MARKET, BY REGION,

2025–2030 (USD MILLION)            97

TABLE 37              AUTOMOBILE: HARDWARE IN THE LOOP MARKET, BY TYPE,

2021–2024 (USD MILLION)            97

TABLE 38              AUTOMOBILE: HARDWARE IN THE LOOP MARKET, BY TYPE,

2025–2030 (USD MILLION)            98

TABLE 39              AUTOMOBILE: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA,

BY COUNTRY, 2021–2024 (USD MILLION)               98

TABLE 40              AUTOMOBILE: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA,

BY COUNTRY, 2025–2030 (USD MILLION)               98

TABLE 41              AUTOMOBILE: HARDWARE IN THE LOOP MARKET IN EUROPE, BY COUNTRY,

2021–2024 (USD MILLION)            99

TABLE 42              AUTOMOBILE: HARDWARE IN THE LOOP MARKET IN EUROPE, BY COUNTRY,

2025–2030 (USD MILLION)            99

TABLE 43              AUTOMOBILE: HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC, BY COUNTRY, 2021–2024 (USD MILLION)            100

TABLE 44              AUTOMOBILE: HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC, BY COUNTRY, 2025–2030 (USD MILLION)            100

TABLE 45              AUTOMOBILE: HARDWARE IN THE LOOP MARKET IN ROW, BY REGION,

2021–2024 (USD MILLION)            101

TABLE 46              AUTOMOBILE: HARDWARE IN THE LOOP MARKET IN ROW, BY REGION,

2025–2030 (USD MILLION)            101

TABLE 47              AUTOMOBILE: HARDWARE IN THE LOOP MARKET IN MIDDLE EAST, BY COUNTRY, 2021–2024 (USD MILLION)            101

TABLE 48              AUTOMOBILE: HARDWARE IN THE LOOP MARKET IN MIDDLE EAST, BY COUNTRY, 2025–2030 (USD MILLION)            102

TABLE 49              AUTOMOBILE: HARDWARE IN THE LOOP MARKET IN AFRICA, BY COUNTRY,

2021–2024 (USD MILLION)            102

TABLE 50              AUTOMOBILE: HARDWARE IN THE LOOP MARKET IN AFRICA, BY COUNTRY,

2025–2030 (USD MILLION)            102

TABLE 51              AEROSPACE: HARDWARE IN THE LOOP MARKET, BY REGION,

2021–2024 (USD MILLION)            103

TABLE 52              AEROSPACE: HARDWARE IN THE LOOP MARKET, BY REGION,

2025–2030 (USD MILLION)            103

TABLE 53              AEROSPACE: HARDWARE IN THE LOOP MARKET, BY TYPE,

2021–2024 (USD MILLION)            104

TABLE 54              AEROSPACE: HARDWARE IN THE LOOP MARKET, BY TYPE,

2025–2030 (USD MILLION)            104

TABLE 55              AEROSPACE: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA, BY COUNTRY, 2021–2024 (USD MILLION)            104

TABLE 56              AEROSPACE: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA, BY COUNTRY, 2025–2030 (USD MILLION)            104

TABLE 57              AEROSPACE: HARDWARE IN THE LOOP MARKET IN EUROPE, BY COUNTRY,

2021–2024 (USD MILLION)            105

TABLE 58              AEROSPACE: HARDWARE IN THE LOOP MARKET IN EUROPE, BY COUNTRY,

2025–2030 (USD MILLION)            105

TABLE 59              AEROSPACE: HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC, BY COUNTRY, 2021–2024 (USD MILLION)            106

TABLE 60              AEROSPACE: HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC, BY COUNTRY, 2025–2030 (USD MILLION)            106

TABLE 61              AEROSPACE: HARDWARE IN THE LOOP MARKET IN ROW, BY REGION,

2021–2024 (USD MILLION)            107

TABLE 62              AEROSPACE: HARDWARE IN THE LOOP MARKET IN ROW, BY REGION,

2025–2030 (USD MILLION)            107

TABLE 63              AEROSPACE: HARDWARE IN THE LOOP MARKET IN MIDDLE EAST, BY COUNTRY, 2021–2024 (USD MILLION)            107

TABLE 64              AEROSPACE: HARDWARE IN THE LOOP MARKET IN MIDDLE EAST, BY COUNTRY, 2025–2030 (USD MILLION)            108

TABLE 65              AEROSPACE: HARDWARE IN THE LOOP MARKET IN AFRICA, BY COUNTRY,

2021–2024 (USD MILLION)            108

TABLE 66              AEROSPACE: HARDWARE IN THE LOOP MARKET IN AFRICA, BY COUNTRY,

2025–2030 (USD MILLION)            108

TABLE 67              DEFENSE: HARDWARE IN THE LOOP MARKET, BY REGION,

2021–2024 (USD MILLION)            109

TABLE 68              DEFENSE: HARDWARE IN THE LOOP MARKET, BY REGION,

2025–2030 (USD MILLION)            109

TABLE 69              DEFENSE: HARDWARE IN THE LOOP MARKET, BY TYPE,

2021–2024 (USD MILLION)            110

TABLE 70              DEFENSE: HARDWARE IN THE LOOP MARKET, BY TYPE,

2025–2030 (USD MILLION)            110

TABLE 71              DEFENSE: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA, BY COUNTRY, 2021–2024 (USD MILLION)                 110

TABLE 72              DEFENSE: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA, BY COUNTRY, 2025–2030 (USD MILLION)                 110

TABLE 73              DEFENSE: HARDWARE IN THE LOOP MARKET IN EUROPE, BY COUNTRY,

2021–2024 (USD MILLION)            111

TABLE 74              DEFENSE: HARDWARE IN THE LOOP MARKET IN EUROPE, BY COUNTRY,

2025–2030 (USD MILLION)            111

TABLE 75              DEFENSE: HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC, BY COUNTRY, 2021–2024 (USD MILLION) 112

TABLE 76              DEFENSE: HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC, BY COUNTRY, 2025–2030 (USD MILLION) 112

TABLE 77              DEFENSE: HARDWARE IN THE LOOP MARKET IN ROW, BY REGION,

2021–2024 (USD MILLION)            113

TABLE 78              DEFENSE: HARDWARE IN THE LOOP MARKET IN ROW, BY REGION,

2025–2030 (USD MILLION)            113

TABLE 79              DEFENSE: HARDWARE IN THE LOOP MARKET IN MIDDLE EAST, BY COUNTRY, 2021–2024 (USD MILLION)                 113

TABLE 80              DEFENSE: HARDWARE IN THE LOOP MARKET IN MIDDLE EAST, BY COUNTRY, 2025–2030 (USD MILLION)                 114

TABLE 81              DEFENSE: HARDWARE IN THE LOOP MARKET IN AFRICA, BY COUNTRY,

2021–2024 (USD MILLION)            114

TABLE 82              DEFENSE: HARDWARE IN THE LOOP MARKET IN AFRICA, BY COUNTRY,

2025–2030 (USD MILLION)            114

TABLE 83              POWER ELECTRONICS: HARDWARE IN THE LOOP MARKET, BY REGION,

2021–2024 (USD MILLION)            115

TABLE 84              POWER ELECTRONICS: HARDWARE IN THE LOOP MARKET, BY REGION,

2025–2030 (USD MILLION)            116

TABLE 85              POWER ELECTRONICS: HARDWARE IN THE LOOP MARKET, BY TYPE,

2021–2024 (USD MILLION)            116

TABLE 86              POWER ELECTRONICS: HARDWARE IN THE LOOP MARKET, BY TYPE,

2025–2030 (USD MILLION)            116

TABLE 87              POWER ELECTRONICS: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA,

BY COUNTRY, 2021–2024 (USD MILLION)               117

TABLE 88              POWER ELECTRONICS: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA,

BY COUNTRY, 2025–2030 (USD MILLION)               117

TABLE 89              POWER ELECTRONICS: HARDWARE IN THE LOOP MARKET IN EUROPE,

BY COUNTRY, 2021–2024 (USD MILLION)               117

TABLE 90              POWER ELECTRONICS: HARDWARE IN THE LOOP MARKET IN EUROPE,

BY COUNTRY, 2025–2030 (USD MILLION)               118

TABLE 91              POWER ELECTRONICS: HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC,

BY COUNTRY, 2021–2024 (USD MILLION)               118

TABLE 92              POWER ELECTRONICS: HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC,

BY COUNTRY, 2025–2030 (USD MILLION)               119

TABLE 93              POWER ELECTRONICS: HARDWARE IN THE LOOP MARKET IN ROW, BY REGION, 2021–2024 (USD MILLION)                 119

TABLE 94              POWER ELECTRONICS: HARDWARE IN THE LOOP MARKET IN ROW, BY REGION, 2025–2030 (USD MILLION)                 119

TABLE 95              POWER ELECTRONICS: HARDWARE IN THE LOOP MARKET IN MIDDLE EAST,

BY COUNTRY, 2021–2024 (USD MILLION)               120

TABLE 96              POWER ELECTRONICS: HARDWARE IN THE LOOP MARKET IN MIDDLE EAST,

BY COUNTRY, 2025–2030 (USD MILLION)               120

TABLE 97              POWER ELECTRONICS: HARDWARE IN THE LOOP MARKET IN AFRICA, BY COUNTRY, 2021–2024 (USD MILLION)            120

TABLE 98              POWER ELECTRONICS: HARDWARE IN THE LOOP MARKET IN AFRICA, BY COUNTRY, 2025–2030 (USD MILLION)            121

TABLE 99              RESEARCH & EDUCATION: HARDWARE IN THE LOOP MARKET, BY REGION,

2021–2024 (USD MILLION)            122

TABLE 100            RESEARCH & EDUCATION: HARDWARE IN THE LOOP MARKET, BY REGION,

2025–2030 (USD MILLION)            122

TABLE 101            RESEARCH & EDUCATION: HARDWARE IN THE LOOP MARKET, BY TYPE,

2021–2024 (USD MILLION)            122

TABLE 102            RESEARCH & EDUCATION: HARDWARE IN THE LOOP MARKET, BY TYPE,

2025–2030 (USD MILLION)            122

TABLE 103            RESEARCH & EDUCATION: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA, BY COUNTRY, 2021–2024 (USD MILLION) 123

TABLE 104            RESEARCH & EDUCATION: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA, BY COUNTRY, 2025–2030 (USD MILLION) 123

TABLE 105            RESEARCH & EDUCATION: HARDWARE IN THE LOOP MARKET IN EUROPE,

BY COUNTRY, 2021–2024 (USD MILLION)               123

TABLE 106            RESEARCH & EDUCATION: HARDWARE IN THE LOOP MARKET IN EUROPE,

BY COUNTRY, 2025–2030 (USD MILLION)               124

TABLE 107            RESEARCH & EDUCATION: HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC,

BY COUNTRY, 2021–2024 (USD MILLION)               124

TABLE 108            RESEARCH & EDUCATION: HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC,

BY COUNTRY, 2025–2030 (USD MILLION)               125

TABLE 109            RESEARCH & EDUCATION: HARDWARE IN THE LOOP MARKET IN ROW, BY REGION, 2021–2024 (USD MILLION)                 125

TABLE 110            RESEARCH & EDUCATION: HARDWARE IN THE LOOP MARKET IN ROW, BY REGION, 2025–2030 (USD MILLION)                 125

TABLE 111            RESEARCH & EDUCATION: HARDWARE IN THE LOOP MARKET IN MIDDLE EAST,

BY COUNTRY, 2021–2024 (USD MILLION)               126

TABLE 112            RESEARCH & EDUCATION: HARDWARE IN THE LOOP MARKET IN MIDDLE EAST,

BY COUNTRY, 2025–2030 (USD MILLION)               126

TABLE 113            RESEARCH & EDUCATION: HARDWARE IN THE LOOP MARKET IN AFRICA,

BY COUNTRY, 2021–2024 (USD MILLION)               126

TABLE 114            RESEARCH & EDUCATION: HARDWARE IN THE LOOP MARKET IN AFRICA,

BY COUNTRY, 2025–2030 (USD MILLION)               127

TABLE 115            RENEWABLE ENERGY: HARDWARE IN THE LOOP MARKET, BY REGION,

2021–2024 (USD MILLION)            127

TABLE 116            RENEWABLE ENERGY: HARDWARE IN THE LOOP MARKET, BY REGION,

2025–2030 (USD MILLION)            128

TABLE 117            RENEWABLE ENERGY: HARDWARE IN THE LOOP MARKET, BY TYPE,

2021–2024 (USD MILLION)            128

TABLE 118            RENEWABLE ENERGY: HARDWARE IN THE LOOP MARKET, BY TYPE,

2025–2030 (USD MILLION)            128

TABLE 119            RENEWABLE ENERGY: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA,

BY COUNTRY, 2021–2024 (USD MILLION)               129

TABLE 120            RENEWABLE ENERGY: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA,

BY COUNTRY, 2025–2030 (USD MILLION)               129

TABLE 121            RENEWABLE ENERGY: HARDWARE IN THE LOOP MARKET IN EUROPE,

BY COUNTRY, 2021–2024 (USD MILLION)               129

TABLE 122            RENEWABLE ENERGY: HARDWARE IN THE LOOP MARKET IN EUROPE,

BY COUNTRY, 2025–2030 (USD MILLION)               130

TABLE 123            RENEWABLE ENERGY: HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC,

BY COUNTRY, 2021–2024 (USD MILLION)               130

TABLE 124            RENEWABLE ENERGY: HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC,

BY COUNTRY, 2025–2030 (USD MILLION)               131

TABLE 125            RENEWABLE ENERGY: HARDWARE IN THE LOOP MARKET IN ROW, BY REGION, 2021–2024 (USD MILLION)                 131

TABLE 126            RENEWABLE ENERGY: HARDWARE IN THE LOOP MARKET IN ROW, BY REGION, 2025–2030 (USD MILLION)                 131

TABLE 127            RENEWABLE ENERGY: HARDWARE IN THE LOOP MARKET IN MIDDLE EAST,

BY COUNTRY, 2021–2024 (USD MILLION)               132

TABLE 128            RENEWABLE ENERGY: HARDWARE IN THE LOOP MARKET IN MIDDLE EAST,

BY COUNTRY, 2025–2030 (USD MILLION)               132

TABLE 129            RENEWABLE ENERGY: HARDWARE IN THE LOOP MARKET IN AFRICA, BY COUNTRY, 2021–2024 (USD MILLION)            132

TABLE 130            RENEWABLE ENERGY: HARDWARE IN THE LOOP MARKET IN AFRICA, BY COUNTRY, 2025–2030 (USD MILLION)            133

TABLE 131            OTHER VERTICALS: HARDWARE IN THE LOOP MARKET, BY REGION,

2021–2024 (USD MILLION)            133

TABLE 132            OTHER VERTICALS: HARDWARE IN THE LOOP MARKET, BY REGION,

2025–2030 (USD MILLION)            134

TABLE 133            OTHER VERTICALS: HARDWARE IN THE LOOP MARKET, BY TYPE,

2021–2024 (USD MILLION)            134

TABLE 134            OTHER VERTICALS: HARDWARE IN THE LOOP MARKET, BY TYPE,

2025–2030 (USD MILLION)            134

TABLE 135            OTHER VERTICALS: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA,

BY COUNTRY, 2021–2024 (USD MILLION)               134

TABLE 136            OTHER VERTICALS: HARDWARE IN THE LOOP MARKET IN NORTH AMERICA,

BY COUNTRY, 2025–2030 (USD MILLION)               135

TABLE 137            OTHER VERTICALS: HARDWARE IN THE LOOP MARKET IN EUROPE, BY COUNTRY, 2021–2024 (USD MILLION)                 135

TABLE 138            OTHER VERTICALS: HARDWARE IN THE LOOP MARKET IN EUROPE, BY COUNTRY, 2025–2030 (USD MILLION)                 136

TABLE 139            OTHER VERTICALS: HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC,

BY COUNTRY, 2021–2024 (USD MILLION)               136

TABLE 140            OTHER VERTICALS: HARDWARE IN THE LOOP MARKET IN ASIA PACIFIC,

BY COUNTRY, 2025–2030 (USD MILLION)               137

TABLE 141            OTHER VERTICALS: HARDWARE IN THE LOOP MARKET IN ROW, BY REGION,

2021–2024 (USD MILLION)            137

TABLE 142            OTHER VERTICALS: HARDWARE IN THE LOOP MARKET IN ROW, BY REGION,

2025–2030 (USD MILLION)            137

TABLE 143            OTHER VERTICALS: HARDWARE IN THE LOOP MARKET IN MIDDLE EAST,

BY COUNTRY, 2021–2024 (USD MILLION)               138

TABLE 144            OTHER VERTICALS: HARDWARE IN THE LOOP MARKET IN MIDDLE EAST,

BY REGION, 2025–2030 (USD MILLION)   138

TABLE 145            OTHER VERTICALS: HARDWARE IN THE LOOP MARKET IN AFRICA, BY COUNTRY, 2021–2024 (USD MILLION)                 138

TABLE 146            OTHER VERTICALS: HARDWARE IN THE LOOP MARKET IN AFRICA, BY REGION, 2025–2030 (USD MILLION)                 139

TABLE 147            HARDWARE IN THE LOOP MARKET, BY REGION, 2021–2024 (USD MILLION)            141

TABLE 148            HARDWARE IN THE LOOP MARKET, BY REGION, 2025–2030 (USD MILLION)            141

TABLE 149            NORTH AMERICA: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            143

TABLE 150            NORTH AMERICA: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            144

TABLE 151            NORTH AMERICA: HARDWARE IN THE LOOP MARKET, BY COUNTRY,

2021–2024 (USD MILLION)            144

TABLE 152            NORTH AMERICA: HARDWARE IN THE LOOP MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            144

TABLE 153            US: HARDWARE IN THE LOOP MARKET, BY VERTICAL, 2021–2024 (USD MILLION)     145

TABLE 154            US: HARDWARE IN THE LOOP MARKET, BY VERTICAL, 2025–2030 (USD MILLION)     146

TABLE 155            CANADA: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            146

TABLE 156            CANADA: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            147

TABLE 157            MEXICO: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            147

TABLE 158            MEXICO: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            148

TABLE 159            EUROPE: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            150

TABLE 160            EUROPE: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            150

TABLE 161            EUROPE: HARDWARE IN THE LOOP MARKET, BY COUNTRY,

2021–2024 (USD MILLION)            150

TABLE 162            EUROPE: HARDWARE IN THE LOOP MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            151

TABLE 163            UK: HARDWARE IN THE LOOP MARKET, BY VERTICAL, 2021–2024 (USD MILLION)     152

TABLE 164            UK: HARDWARE IN THE LOOP MARKET, BY VERTICAL, 2025–2030 (USD MILLION)     152

TABLE 165            GERMANY: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            153

TABLE 166            GERMANY: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            153

TABLE 167            FRANCE: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            154

TABLE 168            FRANCE: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            154

TABLE 169            ITALY: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            155

TABLE 170            ITALY: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            155

TABLE 171            SPAIN: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            156

TABLE 172            SPAIN: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            156

TABLE 173            POLAND: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            157

TABLE 174            POLAND: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            157

TABLE 175            NORDICS: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            158

TABLE 176            NORDICS: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            158

TABLE 177            REST OF EUROPE: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            159

TABLE 178            REST OF EUROPE: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            159

TABLE 179            ASIA PACIFIC: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            161

TABLE 180            ASIA PACIFIC: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            161

TABLE 181            ASIA PACIFIC: HARDWARE IN THE LOOP MARKET, BY COUNTRY,

2021–2024 (USD MILLION)            162

TABLE 182            ASIA PACIFIC: HARDWARE IN THE LOOP MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            162

TABLE 183            CHINA: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            163

TABLE 184            CHINA: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            163

TABLE 185            INDIA: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            164

TABLE 186            INDIA: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            164

TABLE 187            JAPAN: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            165

TABLE 188            JAPAN: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            165

TABLE 189            SOUTH KOREA: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            166

TABLE 190            SOUTH KOREA: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            166

TABLE 191          INDONESIA: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            167

TABLE 192          INDONESIA: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            167

TABLE 193          AUSTRALIA: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            168

TABLE 194          AUSTRALIA: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            168

TABLE 195            MALAYSIA: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            169

TABLE 196            MALAYSIA: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            169

TABLE 197            THAILAND: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            170

TABLE 198            THAILAND: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            170

TABLE 199            VIETNAM: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            171

TABLE 200            VIETNAM: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            171

TABLE 201            REST OF ASIA PACIFIC: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            172

TABLE 202            REST OF ASIA PACIFIC: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            172

TABLE 203            ROW: HARDWARE IN THE LOOP MARKET, BY REGION, 2021–2024 (USD MILLION)          173

TABLE 204            ROW: HARDWARE IN THE LOOP MARKET, BY REGION, 2025–2030 (USD MILLION)          173

TABLE 205            ROW: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            174

TABLE 206            ROW: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            174

TABLE 207            SOUTH AMERICA: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            175

TABLE 208            SOUTH AMERICA: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            175

TABLE 209            MIDDLE EAST: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            176

TABLE 210            MIDDLE EAST: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            176

TABLE 211            AFRICA: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            178

TABLE 212            AFRICA: HARDWARE IN THE LOOP MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            179

TABLE 213            HARDWARE IN THE LOOP MARKET: OVERVIEW OF STRATEGIES ADOPTED

BY KEY PLAYERS, 2021–2025          181

TABLE 214            HARDWARE IN THE LOOP MARKET: DEGREE OF COMPETITION 184

TABLE 215            HARDWARE IN THE LOOP MARKET: REGION FOOTPRINT       191

TABLE 216            HARDWARE IN THE LOOP MARKET: TYPE FOOTPRINT       192

TABLE 217            HARDWARE IN THE LOOP MARKET: VERTICAL FOOTPRINT       193

TABLE 218            HARDWARE IN THE LOOP MARKET: DETAILED LIST OF KEY STARTUPS/SMES   196

TABLE 219            HARDWARE IN THE LOOP MARKET: COMPETITIVE BENCHMARKING

OF KEY STARTUPS/SMES              197

TABLE 220            HARDWARE IN THE LOOP MARKET: PRODUCT LAUNCHES,

NOVEMBER 2019–FEBRUARY 2025              198

TABLE 221            HARDWARE IN THE LOOP MARKET: DEALS, NOVEMBER 2019–FEBRUARY 2025              198

TABLE 222            HARDWARE IN THE LOOP MARKET: OTHER DEVELOPMENTS,

NOVEMBER 2019–FEBRUARY 2025              199

TABLE 223            DSPACE: COMPANY OVERVIEW 200

TABLE 224            DSPACE: PRODUCTS/SOLUTIONS/SERVICES OFFERED             200

TABLE 225            DSPACE: DEALS                201

TABLE 226            EMERSON ELECTRIC CO.: COMPANY OVERVIEW                 204

TABLE 227            EMERSON ELECTRIC CO.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    205

TABLE 228            EMERSON ELECTRIC CO.: PRODUCT LAUNCHES                 206

TABLE 229            EMERSON ELECTRIC CO.: DEALS              207

TABLE 230            VECTOR INFORMATIK: COMPANY OVERVIEW                 209

TABLE 231            VECTOR INFORMATIK: PRODUCTS/SOLUTIONS/SERVICES OFFERED    209

TABLE 232            VECTOR INFORMATIK: PRODUCT LAUNCHES                 210

TABLE 233            VECTOR INFORMATIK: DEALS   210

TABLE 234            ELEKTROBIT AUTOMOTIVE: COMPANY OVERVIEW          212

TABLE 235            ELEKTROBIT AUTOMOTIVE: PRODUCTS/SOLUTIONS/SERVICES OFFERED    212

TABLE 236            ELEKTROBIT AUTOMOTIVE: DEALS       213

TABLE 237            ELEKTROBIT AUTOMOTIVE: OTHER DEVELOPMENTS              213

TABLE 238            OPAL-RT TECHNOLOGIES: COMPANY OVERVIEW          215

TABLE 239            OPAL-RT TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED    215

TABLE 240            OPAL-RT TECHNOLOGIES: DEALS           216

TABLE 241            OPAL-RT TECHNOLOGIES: EXPANSIONS                 216

TABLE 242            SPEEDGOAT: COMPANY OVERVIEW       218

TABLE 243            SPEEDGOAT: PRODUCTS/SOLUTIONS/SERVICES OFFERED    218

TABLE 244            SPEEDGOAT: PRODUCT LAUNCHES       219

TABLE 245            SPEEDGOAT: DEALS       219

TABLE 246            BOSCH SOFTWARE PRIVATE LIMITED: COMPANY OVERVIEW   220

TABLE 247            BOSCH SOFTWARE PRIVATE LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED    220

TABLE 248            TYPHOON HIL: COMPANY OVERVIEW   221

TABLE 249            TYPHOON HIL: PRODUCTS/SOLUTIONS/SERVICES OFFERED    221

TABLE 250            TYPHOON HIL: PRODUCT LAUNCHES   222

TABLE 251            IPG AUTOMOTIVE: COMPANY OVERVIEW                 223

TABLE 252            IPG AUTOMOTIVE: PRODUCTS/SOLUTIONS/SERVICES OFFERED    223

TABLE 253            IPG AUTOMOTIVE: PRODUCT LAUNCHES                 224

TABLE 254            IPG AUTOMOTIVE: OTHER DEVELOPMENTS                 224

TABLE 255            ACUTRONIC: COMPANY OVERVIEW       225

TABLE 256            ACUTRONIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED    225

TABLE 257            PLEXIM: COMPANY OVERVIEW 227

TABLE 258            PLEXIM: PRODUCT OFFERINGS 227

TABLE 259            GENUEN: COMPANY OVERVIEW               228

TABLE 260            LHP, INC.: COMPANY OVERVIEW              228

TABLE 261            MICRONOVA: COMPANY OVERVIEW      229

TABLE 262            KONRAD TECHNOLOGIES: COMPANY OVERVIEW          230

TABLE 263            MODELINGTECH: COMPANY OVERVIEW                 231

TABLE 264            BLOOMY CONTROLS: COMPANY OVERVIEW                 232

TABLE 265            CONTROLLAB: COMPANY OVERVIEW    232

TABLE 266            PICKERING INTERFACES: COMPANY OVERVIEW                 233

TABLE 267            APPLUS+: COMPANY OVERVIEW              233

TABLE 268            ADD2 LIMITED: COMPANY OVERVIEW  234

TABLE 269            BLUEHALO: COMPANY OVERVIEW          234

TABLE 270            SIEMENS: COMPANY OVERVIEW               235

TABLE 271            SPIRENT COMMUNICATIONS: COMPANY OVERVIEW          235

TABLE 272            UAV NAVIGATION: COMPANY OVERVIEW                 236

LIST OF FIGURES

FIGURE 1              HARDWARE IN THE LOOP MARKET SEGMENTATION AND REGIONAL SCOPE              27

FIGURE 2              HARDWARE IN THE LOOP MARKET: RESEARCH FLOW    30

FIGURE 3              HARDWARE IN THE LOOP MARKET: RESEARCH DESIGN                31

FIGURE 4              MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY-SIDE ANALYSIS                 35

FIGURE 5              MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH              36

FIGURE 6              MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH                37

FIGURE 7              DATA TRIANGULATION: HARDWARE IN THE LOOP MARKET 38

FIGURE 8              OPEN LOOP SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD       41

FIGURE 9              AUTOMOBILE TO BE LARGEST VERTICAL IN HARDWARE IN THE LOOP MARKET DURING FORECAST PERIOD                 42

FIGURE 10            SOFTWARE SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD          43

FIGURE 11            ASIA PACIFIC TO BE FASTEST-GROWING MARKET FOR HARDWARE IN THE LOOP DURING FORECAST PERIOD                43

FIGURE 12            GROWING DEMAND FOR HARDWARE IN THE LOOP TECHNIQUE IN ELECTRIC VEHICLE TESTING AND AUTONOMOUS DRIVING TO DRIVE MARKET     44

FIGURE 13            US ACCOUNTED FOR LARGEST SHARE OF NORTH AMERICAN HARDWARE IN

THE LOOP MARKET IN 2024         45

FIGURE 14            POWER ELECTRONICS TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD          45

FIGURE 15            SOUTH KOREA TO REGISTER HIGHEST CAGR IN HARDWARE IN THE LOOP MARKET FROM 2025 TO 2030 46

FIGURE 16            HARDWARE IN THE LOOP MARKET: DRIVERS, RESTRAINTS,

OPPORTUNITIES, AND CHALLENGES     47

FIGURE 17            HARDWARE IN THE LOOP MARKET: IMPACT ANALYSIS OF DRIVERS  49

FIGURE 18            HARDWARE IN THE LOOP MARKET: IMPACT ANALYSIS OF RESTRAINTS           50

FIGURE 19            HARDWARE IN THE LOOP MARKET: IMPACT ANALYSIS OF OPPORTUNITIES 51

FIGURE 20            HARDWARE IN THE LOOP MARKET: IMPACT ANALYSIS OF CHALLENGES         52

FIGURE 21            HARDWARE IN THE LOOP MARKET: VALUE CHAIN ANALYSIS              52

FIGURE 22            HARDWARE IN THE LOOP MARKET: PORTER’S FIVE FORCES ANALYSIS 54

FIGURE 23            INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE VERTICALS   56

FIGURE 24            KEY BUYING CRITERIA FOR TOP THREE VERTICALS         57

FIGURE 25            HARDWARE IN THE LOOP MARKET: ECOSYSTEM ANALYSIS  58

FIGURE 26            HARDWARE IN THE LOOP MARKET: TRENDS/DISRUPTIONS INFLUENCING CUSTOMER BUSINESS                 59

FIGURE 27            AVERAGE SELLING PRICE OF HARDWARE IN THE LOOP TEST SYSTEM,

BY KEY PLAYERS, 2024    63

FIGURE 28            AVERAGE SELLING PRICE TREND OF HARDWARE IN THE LOOP TEST SYSTEM,

BY REGION, 2021 TO 2024              64

FIGURE 29            IMPORT SCENARIO FOR HS CODE 9031-COMPLIANT PRODUCTS, BY COUNTRY, 2020–2024 (USD THOUSAND)      65

FIGURE 30            EXPORT SCENARIO FOR HS CODE 9031-COMPLIANT PRODUCTS, BY COUNTRY, 2020–2024 (USD THOUSAND)      66

FIGURE 31            PATENTS APPLIED AND GRANTED 2015–2025                 72

FIGURE 32            HARDWARE IN THE LOOP MARKET: IMPACT OF AI/GEN AI            77

FIGURE 33            INVESTMENT AND FUNDING SCENARIO, 2021–2024        78

FIGURE 34            HARDWARE IN THE LOOP MARKET, BY OFFERING           84

FIGURE 35            HARDWARE IN THE LOOP MARKET, BY OFFERING, 2025–2030      84

FIGURE 36            HARDWARE IN THE LOOP MARKET, BY TYPE                 89

FIGURE 37            HARDWARE IN THE LOOP MARKET, BY TYPE, 2025–2030              89

FIGURE 38            HARDWARE IN THE LOOP MARKET, BY VERTICAL            94

FIGURE 39            HARDWARE IN THE LOOP MARKET, BY VERTICAL, 2025–2030      95

FIGURE 40            HARDWARE IN THE LOOP MARKET, BY REGION, 2025–2030              141

FIGURE 41            NORTH AMERICA: HARDWARE IN THE LOOP MARKET SNAPSHOT       143

FIGURE 42            EUROPE: HARDWARE IN THE LOOP MARKET SNAPSHOT          149

FIGURE 43            ASIA PACIFIC: HARDWARE IN THE LOOP MARKET SNAPSHOT       160

FIGURE 44            HARDWARE IN THE LOOP MARKET: REVENUE ANALYSIS FOR

TOP PLAYER, 2022–2024 183

FIGURE 45            HARDWARE IN THE LOOP MARKET SHARE ANALYSIS, 2024  183

FIGURE 46            COMPANY VALUATION, 2025      185

FIGURE 47            EV/EBITDA OF KEY VENDORS, 2025         186

FIGURE 48            HARDWARE IN THE LOOP MARKET: BRAND/PRODUCT COMPARISON             187

FIGURE 49            HARDWARE IN THE LOOP MARKET: COMPANY EVALUATION MATRIX

(KEY PLAYERS), 2024       189

FIGURE 50            HARDWARE IN THE LOOP MARKET: COMPANY FOOTPRINT       190

FIGURE 51            HARDWARE IN THE LOOP MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2024 195

FIGURE 52            EMERSON ELECTRIC CO.: COMPANY SNAPSHOT                 205