Report

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
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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
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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
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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
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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
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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
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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

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

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