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Global Automotive Simulation Market was Valued at $1,686.0 Million in 2020 with a CAGR of 11.2% from 2021 to 2027

08-12-2021 04:14 PM CET | Tourism, Cars, Traffic

Press release from: INFINITY BUSINESS INSIGHTS

Automotive simulation enables to deliver innovations faster, maintaining safety and reliability, by anticipating validation through digital prototyping and rapid virtual testing. simulation can also help engineers understand mechatronic correlation described in a comprehensible manner.

Increasing Development of Simulations for Autonomous and Semi-Autonomous Vehicles along with Rising Investment for R&D Activities and Facility Expansion for Automotive Simulation has boosted the market growth.

Technological advancement in automotive simulation is driving the growth of the market. The rise in innovations and enhancement of the automotive sector and the extensive use of simulation technology in the automotive sector by the manufacturers and component suppliers with the purpose of maximizing productivity, supporting continuous improvement. For instance, PTC has introduced the Creo Simulation Live solution, a new solution combining PTC’s and ANSYS’ design and simulation. Creo Simulation Live provides real-time simulation into the design environment, allowing engineers to see the impact of their decisions as they make them. Further, Siemens has introduced Isocenter software solution for design-centric thermal simulation of Autonomous Electric Vehicles (AEVs). It is the industry’s first comprehensive, easy-to-use solution engineered to address critical, thermal-driven challenges associated with AEV design, such as optimizing in-cabin comfort, designing sensors, extending electric drive range, and ensuring the reliability of all autonomous drives (AD) systems. Additionally, Synopsys, Inc. has introduced Lucid Drive software, which allows designers to simulate the performance of automotive headlamps when driving at night. LucidDrive includes features for simulating pixel light technology, which is a type of adaptive front-lighting system (AFS) that provides individual light cell illumination on the road with high resolution. Further, rising investment for R&D activities and facility expansion for automotive simulation is a key driving factor of the market.

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Software and Services is the type segment of the market scope. By Application the market is divided into OEMs, Automotive Component Manufacturers, and Regulatory Bodies. The report covers value of the global market by type and application.

Based on type, software was dominating the automotive simulation market in 2020 owing to the strategic partnership between companies to integrate software for automotive simulation, and commercialization of advanced software for automotive simulation in the market.

North America, Europe, Asia Pacific, South America, and Middle East & Africa are taken into consideration at the global automotive simulation value figures. While North America is further categorized into enhancing the United States, Canada, and Mexico, Europe is split into the United Kingdom, Germany, France, Italy, and Rest of Europe. Asia-Pacific covers India, China, Japan, South Korea, and Rest of Asia Pacific in its scope. South America is bifurcated into Brazil, Argentina, and Rest of South America, with Middle East & Africa involving GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

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Asia Pacific was dominating the automotive simulation market in 2020 owing to the increasing development and integration of automotive simulation by the OEM. Europe has shown significant growth in 2020, due to the rising investment for the development of new automotive simulation facility in Europe.

Major players operating in the automotive simulation industry include Altair Engineering, Ansys, PTC, Siemens, Autodesk, Dassault Systemes, Synopsys, Mathworks, ESI Group, Aras, COMSOL AB, and SimScale GmbH.

Collaboration between companies to develop automotive simulation software, launch of new advance automotive simulation, and strategic acquisition between companies to expand its product portfolio and geographic presence are some of the strategies adopted by the major companies.

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Infinity Business Insights is a market research company that offers market and business research intelligence all around the world. We are specialized in offering the services in various industry verticals to recognize their highest-value chance, address their most analytical challenges, and alter their work.
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