Global Electric Vehicle Prototyping Market likely to grow at 43% CAGR during 2021-26 | Top Players are ESI Group, Autodesk, Arm, Cadence Design Systems, Synopsys Inc, and 3E Rapid Prototyping Limited

According to MarkNtel Advisors’ research report, “Global Electric Vehicle Prototyping Market Analysis, 2021,” the market is likely to grow at 43% CAGR during 2021-26. It is mainly due to the surging demand for obtaining a more reliable method of designing better electric vehicles at a reasonable price in less time. Prototyping provides an extensive opportunity for validating the entire EV system without depending on the actual hardware model, thereby facilitating the faster development of electric vehicle systems.

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Key Questions Answered in the Study
1. What are the current and future trends in the Global Electric Vehicle Prototyping market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across the countries, followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global Electric Vehicle Prototyping market?
5. What are the customer orientation, purchase behavior, and expectations from the Global Electric Vehicle Prototyping market service providers across various regions?

Computer-Aided Engineering Segment to Grow Significantly
Based on the Software Tools Used, the market segments into Computer-Aided Design, Computer-Aided Engineering, Computer-Aided Manufacturing, Computational Fluid Dynamic, and Finite Element Analysis. Of these, the Computer-Aided Engineering segment is likely to grow substantially during the forecast period.

The segment growth owes to the ability of computer-aided engineering to solve various engineering problems associated with the EV manufacturing process. Also, it helps in the optimization, simulation, and validation of the vehicle and identifying design flaws at a very early stage, thereby eliminating the probability of any error occurring at later stages of manufacturing.

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“Global Electric Vehicle Prototyping Market Analysis, 2021” provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Electric Vehicle Prototyping providers across the globe. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.


Virtual Performance Solutions Exhibits Fastest Growth

Based on the Solution, the market segments into System Modelling, Full Vehicle Design, Virtual Performance Solutions, Interior Solutions, and Virtual Manufacturing. Among these segments, Virtual Performance Solution is more likely to grow considerably during the forecast period. It offers a realistic virtual prototype that allows testing and performance confirmation, thereby providing more insight on performance and design activity. Hence these factors aid the segment growth, reveals MarkNtel Advisors in their research report, “Global Electric Vehicle Prototyping Market Analysis, 2021.”

According to MarkNtel Advisors, the major leading players in the Global Electric Vehicle Prototyping Market are 3ERP, ESI Group, TWI Ltd, Autodesk Inc., Carbon Design System Inc., Arm Ltd., Cadence Design System, Siemens Designs Software, PTC, ENCORE, Synopsis, Inc.

Market Segmentation:
1. By Software Tools Used (Computer-Aided Design, Computer-Aided Engineering, Computer-Aided Manufacturing, Computational Fluid Dynamic, Finite Element Analysis)
2. By Components (Battery, Fuselage, Exterior Aesthetics, Interior Solution, Aerodynamics, Electrical Components, Internal & External Noise management, Aerodynamics, Engine & Motor Solutions)
3. By Solution (System Modelling, Full Vehicle Design, Virtual Performance Solutions, Interior Solutions, Virtual Manufacturing)
4. By Vehicle Type (Commercial Vehicle, Passenger Cars, Two-Wheeler)
5. By Region (North America, Latin America, Europe, Asia-Pacific, Middle East & Africa)
6. By Competitors (3ERP, ESI Group, TWI Ltd, Autodesk Inc., Carbon Design System Inc., Arm Ltd., Cadence Design System, Siemens Designs Software, PTC, ENCORE, Synopsis, Inc.)

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MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

This release was published on openPR.