Europe to Lead Automotive Simulation Market
Market Analysis
The global auto simulation market is predicted to have a significant growth at a 10% CAGR over the forecast period (2018-2023), reveals the latest Market Research Future (MRFR) report. Simulation and testing in vehicle development will ensure proper functionality of the system. Automotive simulation helps to re-engineer various vehicle parts. Moreover, it also helps to deliver innovations faster with rapid virtual prototyping as well as testing for light-weighting, energy efficiency, electrification, and smart controls. Component suppliers and vehicle manufacturers depend on simulation software for maximizing productivity, responding to changing demands of customers, supporting constant improvements, and reducing costs for aligning with the developing production program costs.
Various factors are pushing the growth of the automotive simulation market. These factors, in accordance to the Market Research Future (MRFR) report, include rise in automotive production, increasing investments in R&D to lessen carbon footprint, growth in the use of connected cars, compulsion to abide by the regulatory standards laid down by the government bodies related to the automotive sector and enhance vehicle efficiency.
Additional factors pushing the market growth include technological advancements, vehicle-to-everything (V2X), autonomous vehicles and truck-platooning, and evolution of hybrid, conventional, and electric drive systems, including thermal management and operating strategies. On the contrary, lack of a set of regulations and standards coupled with complications and constraints associated with real-time control related to simulation activities are factors that may hinder the automotive simulation market over the forecast period.
Request for Free Sample Report @
https://www.marketresearchfuture.com/sample_request/7280
Market Segmentation
The Market Research Future report offers a wide segmental analysis of the automotive simulation market on the basis of application, end users, deployment, and component.
Based on application, the automotive simulation market is segmented into fluid power, mechanical components, and drive systems.
Based on end users, the automotive simulation market is segmented into organizations, suppliers, and OEM.
Based on deployment, the automotive simulation market is segmented into the cloud and on-premises. Of these, the on-premise segment will have the largest share in the market over the forecast period.
Based on the component, the automotive simulation market is segmented into services and software. Of these, the services segment will dominate the market over the forecast period.
Regional Analysis
Based on the region, the automotive simulation market report covers growth opportunities and the latest trends across the Asia Pacific, Europe, North America, and Rest of the World. Of these, Europe will lead the market over the forecast period. This is owing to increasing production of automobiles, significant adoption of cost-effective simulating and testing solutions by component suppliers and vehicle manufacturers.
The automotive simulation market in North America will have significant growth over the forecast period. This is owing to innovations and developments in efficient solutions for testing and simulating of cars by the region’s leading manufacturers.
In the Asia Pacific, the automotive simulation market will witness substantial growth over the forecast period. This is owing to growing automotive production in China, Japan, and India. Moreover, increasing in-vehicle services that are connected to the external cloud, changing in-vehicle electronic architecture, increasing vehicle production, expansion of top OEMs as well as automotive component suppliers, government initiatives to use eco-friendly electric cars and rising sales of connected vehicles are also pushing the market growth in this region.
Key Players
Leading players profiled in the automotive simulation market report include Siemens PLM (US), TESIS GmbH (Germany), PG Automotive GmbH (Germany), Dassault Systèmes (France), MOOG INC. (US), ANSYS, Inc. (US), dSPACE GmbH (Germany), and ESI Group (Germany), among others.
January 2019- Metamoto Inc., has joined hands with VectorZero, leading developer of content, services, and software for terrain and road generation for automotive simulation to enhance Metamoto’s automotive simulation platform by enabling users to concentrate testing on critical scenarios, edge cases, and situations. It will also allow VectorZero’S RoadRunner users in exporting their virtual scenes (the static environment which includes props, road signs, buildings, roads and more) and scenarios (sensor configurations, pedestrians, behaviors of traffic, defined training and testing and more within a scene) into the Simulation as a Service platform of Metamoto directly.