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The global automotive simulation software market is anticipated to grow at a CAGR of 12.5% during the forecast period. Automotive simulation is described as the virtual recreation of real automotive vehicles in a virtual environment. It is a technology-based on the software used to mimic external factors and predict how a vehicle will communicate with those factors. Moreover, it is also used to teach beginners how to learn the vehicles and driving skills. The software extends its application in detecting defects in the vehicle component at the time of fitting spare parts into the vehicle. Automotive simulation software offers driver assistance, thereby helping individuals acquire driving knowledge efficiently, avoiding any future threat to life and vehicle.
Top Driver: Rapid Technological Changes and Increase in Research and Development Activities
The growing number of electronic vehicles and stringent rules by regulatory authorities for vehicle safety is expected to boost market growth. Besides, increasing technological advancement such as autonomous vehicles, truck-platooning, and Vehicle-to-everything (V2X) attributed to government regulation for vehicle safety is positively impacting the market demand. Moreover, rising investment in the research and development to develop advanced future technologies focused on improving safety features and dynamic technological changes are other factors responsible for market growth.
Drive Systems to Make Crucial Contribution to Growth of the Market
Among application segments of the global automotive simulation software market, drive systems is predicted to show significant growth in future owing to increasing innovative models in the automotive sector installed with new technology. The other segments under technology includes Mechanical Components, Fluid Power. On the basis of end use the market is segmented into OEM, Component Suppliers, Research and Engineering Organizations. The research and engineering organizations accounted for a larger market share.
Rising Vehicle Production to Benefit Asia Pacific Market
Asia Pacific is anticipated to be the largest market for automotive simulation software in the forecast period. The market growth is attributed to the rising vehicle production and hence helps in achieving higher growth rate. Furthermore, changing in-vehicle electronic architecture is anticipated to help the industry to propel. The rising in-vehicle services connected to the external cloud, and expansion of leading OEMs and automotive component suppliers. The market growth can also be attributed to the surge in sales of connected vehicles and government initiatives regarding the utilization of environment-friendly electric vehicles.
Players to Focus on Automotive Simulation Software Market
The global market is expected to stay fragmented with the increase in the number of new entrants in the coming years. ESI Group, DSPACE GmbH, ANSYS, Inc., MOOG INC., Dassault Systèmes, PG Automotive GmbH, TESIS GmbH, Siemens PLM, Ansys, Altair among others could be at the forefront of the competition in the global market.
ESI Group: In November 2017, ESI Group, leading innovator in Virtual Prototyping software and services for manufacturing industries, announced the latest release of ESI Virtual Performance Solution (VPS). ESI’s flagship software uniquely addresses the needs of an automotive industry being reshaped by new paradigms. The new generation of thermal engine and electric/hybrid vehicles rely on light-weight multi-material assemblies, including light metals and composites.
Ansys: In May 2018, Ansys acquired OPTIS, becomes Industry’s Leading Solution Provider for Autonomous Vehicle Simulations. With completed acquisition of optical simulation leader OPTIS, Ansys now delivers the industry’s most comprehensive solution for simulating autonomous vehicles.
Scope of the Report
By Application
By End-User
By Region
Key Reasons to Purchase this Report
Table of Content
Chapter 2 Our Research Practice
Chapter 4 Covid-19 Impact Analysis
4.3 Key Factor Impact Analysis
Chapter 5 Global Automotive Simulation Software Market Forces
5.2 Porter’s Five Forces Analysis
5.2.2 Threats From New Entrants
5.2.4 Threat From Substitute Product
Chapter 6 Global Automotive Simulation Software Market -Industry Snapshots
6.1.1 Global Automotive Simulation Software Market Value, 2019 – 2028, (US$ Bn)
6.2.2 Restraint/Challenges analysis
6.3 Supply Chain/Value Chain Analysis
Chapter 7 Global Automotive Simulation Software Market Analysis, by Application
7.2 Key Findings for Automotive Simulation Software Market- By Application
7.2.1 Automotive Simulation Software Market- Drive Systems
7.2.2 Automotive Simulation Software Market- Mechanical Components
7.2.3 Automotive Simulation Software Market- Fluid Power
Chapter 8 Global Automotive Simulation Software Market Analysis, by End User
8.2 Key Findings for Automotive Simulation Software Market- By End User
8.2.1 Automotive Simulation Software Market- OEM
8.2.2 Automotive Simulation Software Market- Component Suppliers
8.2.3 Automotive Simulation Software Market- Research and Engineering Organizations
Chapter 9 Automotive Simulation Software Market Analysis by Region
9.1 Key Findings for Automotive Simulation Software Market- By region
9.2.1 Global Automotive Simulation Software Market Analysis, By Application, 2019 – 2028
9.2.2 Global Automotive Simulation Software Market Analysis, By End User, 2019 – 2028
9.3 Automotive Simulation Software Market – North America
9.3.5 North America Market, By Application
9.3.6 North America Market, By End User
9.4 Automotive Simulation Software Market – Europe
9.4.7 Europe Market, By Application
9.4.8 Europe Market, By End User
9.5 Automotive Simulation Software Market – Asia Pacific
9.5.6 Asia Pacific Market, By Application
9.5.7 Asia Pacific Market, By End User
9.6 Automotive Simulation Software Market – SAMEA
9.6.2 Middle East & Africa (MEA)
9.6.5 South America, Middle East and Africa Market, By Application
9.6.6 South America, Middle East and Africa Market, By End User
Chapter 10 Market Competition Analysis
10.1 Market Share/Positioning Analysis
10.1.1 Market Positioning of Key Vendors, 2019
10.1.2 Key Strategies Adopted by the Leading Players
Chapter 11 Company Profiles- Snapshot
*More than 10 Companies are profiled in this Research Report*
*Financials would be provided on a best efforts basis for private companies”
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