Press release
Automotive Simulation Market Trends, industry Size, Growth Opportunities, Forecast To 2025
Automotive Simulation Market
Increasing focus on R&D activities to reduce the carbon footprint and enhance the efficiency of vehicles is driving automotive simulation market growth. OEMs are manufacturing lightweight vehicles as these can combust in less fuel, reducing the carbon footprint and increasing the efficiency of vehicles. OEMs are also manufacturing intelligent vehicles, which detect, predict, and diagnose equipment failures, and perform corrective interventions that include triaging of damage on the go following a collision.
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Automotive Simulation Market is proliferating during the forecast period propelled by stringent norms imposed by governments related to vehicle safety. OEMs are focusing on using the IoT for connected vehicles to assist drivers and improve passenger safety. For instance, the percentage of cars with internet connectivity is anticipated to rise from 13% in 2015 to 75% in 2020. Connected cars is expected to increase to 22% by 2020 from 10% in 2015. AI technologies such as machine learning and deep learning technologies are expected to further enhance applications such as ADAS, and adaptive cruise control, among others to drive the market growth over the forecast period.
Complications & constraints related to real-time control in simulation software are impeding automotive simulation market growth. With the automation industry moving toward self-driving and environment-friendly vehicles, old regulations imposed will hinder the growth of the automotive simulation market. The governing bodies are required to understand and complete the functioning of self-driving and environment-friendly vehicles to create several new laws along with revision of the existing laws.
With increasing connectivity and digitalization, OEMs are focusing on improving cybersecurity over connected vehicles & devices, which is expected to drive the automotive simulation market. Along with cybersecurity, rapid infrastructure development and advancements in 5G technology are anticipated to fuel the growth of the automotive simulation market over the forecast period.
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The testing application is anticipated to drive the market due to the rising use of the simulation software for testing designs and validating the findings with the desired results. The simulation software reduces the efforts of OEMs during on-road and lab testing, helping them in improving their products and technologies within the stipulated time.
Asia Pacific is expected to have the largest share in the automotive simulation market due to the rapid industrialization & infrastructural development, creating several opportunities for OEMs. OEMs, with the help of infrastructural development, are offering advanced applications such as auto-park assists, keyless entry, and HMI that will create the demand for testing and prototyping of new automotive systems. This provides a competitive advantage to OEMs and will drive the growth of the automotive simulation market in the region.
Some of the major players operating in the automotive simulation market are 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.
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