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Automotive Simulation Market is Expected to Grasp the Value with Excellent CAGR by , Size, Share, Dynamic Trends, Growth and Competitive Outlook
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The global automotive simulation market is growing at a rapid pace, mainly due to the rising demand for innovative approaches for vehicle safety and test applications. Besides, the growing demand for high-performance equipment and new solutions due to dramatic changes in the environment creates significant opportunities. Also, the market growth majorly attributes to stringent government regulations for vehicle and passenger safety.
Automotive manufacturers seek a more efficient, sustainable, and précised development process in line with customer requirements in the future, as they continue to evolve their global development methods through the use of virtual engineering and simulation tools. Therefore, automakers are constantly investing in developing a state-of-the-art dynamic driving simulator for various product developments and original equipment businesses.
With the rising focus on car crash simulations, the market is expected to witness rising revenues in the years to come. In this regard, Market Research Future (MRFR) states that the global automotive simulation market value is expected to rise further by 2027, growing at an impressive CAGR during the assessment period (2020-2027). The rising demand and production of electric and lightweight vehicles push the market growth.
Additionally, burgeoning mechanical as well as automotive engineering streams and attention to passenger protection, escalates market growth. Government initiatives to reduce road accidents to meet greenhouse gas requirements and promote lightweight structures significantly boost market size. Furthermore, increasing sales of passenger vehicles and economic conditions worldwide substantiate the market demand.
Automotive Simulation Market – Segments
The report is segmented into components, application, deployment, end-users, and regions. The component segment is sub-segmented into software and services. The application segment is sub-segmented into drive systems, mechanical components, fluid power, and others. The deployment segment is sub-segmented into on-premises and cloud.
The end-users segment is sub-segmented into OEM, component suppliers, research & engineering organizations, and others. The region segment is sub-segmented into Asia Pacific, Americas, Europe, and the Rest-of-the-World.
Global Automotive Simulation Market – Regional Analysis
Europe dominates the global automotive simulation market. The largest market share attributes to growing investments by major OEMs and stringent safety standards for vehicle manufacturing & testing in the region. Moreover, the presence of well-established automotive industries in the region pushes the growth of the market. Also, increasing innovations and focus on fuel efficiency & sustainability boost the regional market's growth.
North America is the second-largest market for automotive simulations. The market is driven by increasing investments by OEMs, component suppliers, and governments. Additionally, the presence of many notable automakers and industry players in the region drives the market. The early adoption of advanced technologies stringent vehicle & passenger safety regulations boosts the market growth in the region.
The Asia Pacific region holds a sizable share in the global automotive Simulation market. Factors such as increased production and sales of electric vehicles in the region boost the demand in the automotive software market. Besides, the presence of major market players in China, India, South Korea, and Japan substantiates the market size offering innovative technologies.
Automotive Simulation Market – Competitive Landscape
Highly competitive, the automotive simulation market appears diversified due to the presence of several well-established players. To gain a larger competitive share, players incorporate strategic initiatives such as mergers & acquisitions, expansion, and product & technology launches.
Major Players:
Players leading the global automotive simulation market include dSPACE GmbH (Germany), ESI Group (Germany), ANSYS, Inc. (US), Dassault Systèmes (France), MOOG INC. (US), PG Automotive GmbH (Germany), Siemens PLM (US), and TESIS GmbH (Germany), among others.
Industry/ Innovation/ Related News:
April 12, 2021 ---- Two American companies, Ansys, a global leader in engineering simulation and Velodyne Lidar, a lidar technology company, announced their collaboration to transform autonomous vehicle safety. These companies are developing highly accurate physics-based models of Velodyne's lidar sensor to detect and track driving hazards.
Ansys' VRXPERIENCE is a next-gen, real-time interactive driving simulator that models, evaluates and validates lidar designs within a highly realistic virtual environment. The collaboration is projected to accelerate the integration of Velodyne's sensor into autonomous vehicles (AV) to help make roads safer. On April 20 and 21, Velodyne presented 'How Lidar Sensors, Software and Simulation Advance Autonomous Applications' at Simulation World 2021.
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