The global automotive simulation market is projected to grow at a CAGR of 10.1% during the forecast period 2020-2027.
Innovation and continuous improvement have always been the core of the automotive industry. Vehicle manufacturers and component suppliers rely on simulation software to maximize productivity, respond to changing customer demand, support continuous improvement, and reduce costs to align with the growing production program costs.
The need for new and demanding vehicle test applications that require more innovative approaches, high-performance equipment, and new solutions is growing due to dramatic change in environment. Automotive simulator and its software elements are controlled through real-time simulation and modeling system that helps in easy configuration and coordination of the vehicle’s monitoring, dynamics, and driver feedback through graphical interface.
The increasing investments by automobile OEMs in developing advanced vehicle technology such as safety critical control software, smart electronics, and autonomous driving systems is attributed to the need of automotive simulation coupled with improvement of fuel efficiency and emission reduction. Moreover, automotive simulation enables to re-engineer different vehicle parts and deliver innovations faster through rapid virtual prototyping and testing for smart controls, electrification, energy efficiency, and light-weighting.
Some of the key factors driving the market growth are rising demand for environmental friendly simulation program generators which tend to provide information at the macro level; designing simulators to control traffic, weather, wildlife, pedestrians, and other vehicles; and improvement in the analysis and understanding of the decision-making processes in the assembly plants.
The global automotive simulation market is projected to witness a significant growth during the study period. The rising production of automobiles is estimated to accelerate the growth of automotive simulation market. Furthermore, preliminary design and evaluation of electric, hybrid, and conventional drive systems including operating strategies and thermal management is expected to augment the growth of automotive simulation market.The prominent players in the global Automotive Simulation Market include ESI Group (Germany), dSPACE GmbH (Germany), ANSYS, Inc. (US), MOOG INC. (US), Dassault Systèmes (France), PG Automotive GmbH (Germany), TESIS GmbH (Germany), Siemens PLM (US).
The global Automotive Simulation Market is segmented on the basis of application, end users, deployment, component, and region. On the basis of application, the market has been segmented into drive systems, mechanical components, and fluid power. On the basis of end users, the market has been segmented into OEM, component suppliers, and research & engineering organizations. On the basis of deployment, the market has been segmented into on-premises and cloud. On the basis of component, the market has been segmented into software and services.
Geographically, the global Automotive Simulation Market has been segmented into four major regions namely North America, Europe, Asia-Pacific, and the Rest of the World. The Europe region is estimated to hold the prominent market share during the forecast period owing to growing investment by major OEMs in the region and stringent safety standards for vehicle manufacturing and testing. Moreover, increased production and sales of electric vehicle is expected to boost the demand for automotive software market in Asia Pacific region. Furthermore, investments by OEMs, component suppliers, and governmental bodies across North America to drive the automotive simulation market during the forecast period.
The report for global Automotive Simulation Market of market research future covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
|Market Size||2027: Significant Value|
|CAGR||Substantial CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Technology, By Application, By Vehicle type, By End Market,|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||ESI Group (Germany), dSPACE GmbH (Germany), ANSYS, Inc. (US), MOOG INC. (US), Dassault Systèmes (France), PG Automotive GmbH (Germany), TESIS GmbH (Germany), Siemens PLM (US).|
|Key Market Opportunities||
|Key Market Drivers||Rising demand for environmental friendly simulation program|
The automotive simulation market can surge at 10% CAGR by 2023.
By the end of review period, the automotive simulation market can attain a lucrative valuation.
Dassault Systèmes (France), TESIS GmbH (Germany), Siemens PLM (US), and PG Automotive GmbH (Germany) are some reputed names in the automotive simulation market.
The hike in electric vehicle sales can prompt the global automotive simulation market growth.
The presence of numerous OEMs in North America can impel the regional market growth.