Press release
Automotive Simulation Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth
Automotive Simulation
How Large Will the Automotive Simulation Market Size By 2025?
The size of the automotive simulation market has seen significant expansion in recent years. The market which stands at $2.23 billion in 2024, is expected to surge to $2.48 billion in 2025, with a robust compound annual growth rate (CAGR) of 11.1%. The notable growth during the historical period is due to factors such as cost-cutting in product development, increased intricacy of vehicle systems, strict regulatory standards, the globalisation of the car industry and a demand for greater fuel efficiency.
How Big Is the Automotive Simulation Market Size Expected to Grow by 2029?
The market for automotive simulation is anticipated to expand swiftly in the upcoming years, with a projected value of $4.03 billion in 2029 and a compound annual growth rate (CAGR) of 12.9%. Factors contributing to this expansion during the forecast period include the progress in electric and hybrid vehicle technology, emphasis on sustainability, cybersecurity testing, market competitiveness, and government initiatives promoting intelligent transportation systems. These shortening product development cycles are also instrumental in driving growth. The forecast period is set to see trends like the incorporation of digital twin technology, swift progress in technology, the use of artificial intelligence in simulation, multi-physics simulation models, simulation platforms based on the cloud, and advanced driver assistance systems (ADAS).
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Which Key Market Drivers Powering Automotive Simulation Market Expansion and Growth?
The augmentation in automotive manufacturing and passenger vehicle sales are anticipated to drive the automotive simulation market's expansion in the future. Passenger vehicles are essentially those built for transporting individuals. A crucial element of vehicle manufacturing involves automotive simulation, which serves the purpose of assessing and enhancing the design and performance of vehicles throughout the production process to boost efficiency and guarantee customer safety. For example, Eurostat, a database agency of the European Commission, reported in January 2024 that the count of battery-only electric passenger cars in the EU countries nearly hit 3.0 million in 2022, marking a surge of +55% from 2021 (1.9 million). Thus, the booming automotive manufacturing and passenger vehicle sales are fueling the automotive simulation market's growth.
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Which Fast-Growing Trends Are Poised to Disrupt the Automotive Simulation Market?
Leading firms in the automotive simulation market are launching traffic simulation software to boost vehicle performance examination, enhance traffic flow, advance safety measures, and assist in autonomous driving technologies. Traffic simulation software utilizes sophisticated computational instruments to replicate and scrutinize traffic conduct within roadway systems. For instance, PTV Planung Transport Verkehr GmbH, a company based in Germany, initiated PTV Vissim Automotive, an advanced traffic simulation software in July 2024. This application supplies a dynamic, feedback-controlled testing environment and simulates authentic traffic situations for extended virtual road tests. It includes behavior models that simulate human exchanges between cars, cyclists, and pedestrians, thereby enhancing the precision of the simulation.
What Are the Emerging Segments in the Automotive Simulation Market?
The automotive simulationmarket covered in this report is segmented -
1) By Component: Software, Services
2) By Deployment: On-Premises, Cloud
3) By Application: Prototyping, Testing
4) By End-User: Regulatory Bodies, OEMs, Automotive Component Manufacturers
Subsegments:
1) By Software: Simulation Software, Model-Based Design Tools, Simulation Integration Platforms, Real-Time Simulation Software
2) By Services: Consulting Services, Custom Simulation Services, Training And Support Services, Maintenance And Upgrades
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Who Are the Global Leaders in the Automotive Simulation Market?
Major companies operating in the automotive simulation market include Altair Engineering Inc., Ansys Inc., Autodesk Inc., AVL List GmbH, Dassault Systèmes SE, dSpace GmbH, ESI Group, Gamma Technologies Inc., IPG Automotive GmbH, PTC Inc., Siemens AG, Simscale GmbH, SIMUL8 Corporation, Design Simulation Technologies Inc., Comsol AB, MSC Software Corporation, MathWorks, Synopsys Inc., Ricardo Software, Claytex Services Limited, Mevea, Cognata, CarSim, VIRES Simulationstechnologie GmbH, VI-grade GmbH, Elaphe Propulsion Technologies, TASS International, Ansible Motion, Modelon, Hyperdrive, CarNetix, Cruden
Which are the Top Profitable Regional Markets for the Automotive Simulation Industry?
Asia-Pacific was the largest region in the automotive simulation market in 2024. It is expected to be the fastest-growing region in the automotive simulation market during the forecast period. The regions covered in the automotive simulation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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