Category : Automotive, Transportation and Logistics | Published at : September-2020 | Delivery Format : PDF | Status: Published | Pages : 190
The market for automotive simulation is expected to grow at a CAGR of around 11.9% from 2020 to 2027 and expected to reach the market value of around US$ 3,439.3 Mn by 2027.
The automotive simulation is advanced software that stimulates passenger vehicles and components for testing & development of driver assistance systems, vehicle dynamic controls, onboard power electronics, and engine controls. The automotive simulation reproduces the characteristics of real vehicles in a virtual environment by replicating the external factors and conditions that a vehicle interacts with. It also enables a person to learn driving without the risk of an accident with the original vehicle. Additionally, it helps OEMs to detect risks or defaults in the components before fixing them into the vehicle that enhances the efficiency of the product.
Market Dynamics
The rapid technological changes associated with the increasing focus on R&D Activities are driving the market growth. The innovative and constant technological advancements in the market due to the emergence of virtual platforms are supporting the market value. The increasing usage of cloud computing along with the increasing use of automotive simulation software at the test centers of governmental regulatory bodies is also driving the market growth. The benefit associated with the use of simulation software is, it significantly reduces the efforts of OEMs during lab testing and on-road testing for new products and technologies is additionally contributing to market growth. Furthermore, increasing developments in the field of autonomous and semi-autonomous vehicles are further projected to create potential opportunities over the forecast timeframe from 2020 to 2027.
On the other side, constraints and complications related to real-time control in simulation activities as well as lack of set standards and regulations are the factors projected to restrain the market growth.
Original Equipment Manufacturers (OEMs) accounted for the maximum share in the global market
By sales channel, OEMs accounted for the major revenue share (%) in the global automotive simulation market. The rapid expansion of primary OEMs and increasing investment by major original equipment manufacturers are accelerating the market value. The rapid industrialization & infrastructural development creating are further providing opportunities for OEMs in the market. OEMs are offering advanced applications such as HMI, keyless entry, and auto-park assists that are likely to create potential demand for testing and prototyping of new automotive systems in the global automotive simulation market. These are the factors projected to provide a competitive advantage to OEMs and ultimately contribute to global market growth.
Asia Pacific accounted for the maximum share in the global market
In 2019, Asia Pacific registered major share (%) in terms of value, and the region is also expected to maintain its dominance over the forecast timeframe from 2020 to 2027. The increasing production of vehicles, rising demand for in-vehicle services associated with the external cloud, expansion of primary OEMs and automotive component suppliers, and changing in-vehicle electronic architecture are some of the factors favoring the regional market value. The increasing sale of connected vehicles and stringent regulation towards the usage of eco-friendly vehicles in the regional market is further bolstering the market value. Furthermore, the region is projected to exhibit the fastest growth with major CAGR (%) over the forecast timeframe from 2020 to 2027.
The players profiled in the report include Altair Engineering Inc. (Michigan, United States), Ansys, Inc. (Pennsylvania, United States), Dassault Systèmes SE ( France), Design Simulation Technologies Inc., dSPACE GmbH , (Paderborn, Germany) ESI group, IPG Automotive GmbH, PTC Inc, Siemens AG, SIMUL8 Corporation, Synopsys, Inc., and The MathWorks, Inc. The major automotive simulation players were involved in strategic developments for increasing the profit share in regional as well as global market. The major investments were announced for the technological advancements associated with the changing consumer demand for automotive simulation.
Market Segmentation
Market By Deployment
On-premises
Cloud
Market By Component
Software
Services
Market By Application
Prototyping
Testing
Market By Sales Channel
OEMs
Aftermarket
Market By Geography
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
The market for automotive simulation is expected to reach a market value of around US$ 3,439.3 Mn by 2027.
The automotive simulation market is expected to grow at a CAGR of around 11.9% from 2020 to 2027.
The OEMs is the leading segment by sales channel in the automotive simulation market.
The rapid technological changes associated with the increasing focus on R&D Activities, to emergence of virtual platforms, and increasing usage of cloud computing are some of the important factors driving the market growth.
Altair Engineering Inc., Ansys, Inc., Dassault Systèmes SE, Design Simulation Technologies Inc., dSPACE GmbH, ESI group, IPG Automotive GmbH, PTC Inc, Siemens AG, SIMUL8 Corporation, Synopsys, Inc., and The MathWorks, Inc. are the prominent players in the market.
Asia Pacific held the highest market share in the automotive simulation market.
Asia Pacific is expected to be the fastest growing market over the forecast period.
