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Automotive Simulation Market Overview
Automotive simulation refers to the use of simulation software in prototyping and model testing of a vehicle to ensure complete functionality of the vehicle. The global automotive simulation market is expected to register significant growth during the forecast period (2020–2030). This can be mainly driven by various vehicle safety regulations incorporated in different countries, and increasing focus of manufacturers on research and development (R&D) activities for the introduction of advance safety systems. For this, original equipment manufacturers (OEMs) are utilizing internet of things (IoT) for enhancing driver and passenger safety. Additionally, to further enhance the safety of the vehicle, automotive simulation is being used during manufacturing for detecting any fault before its launch.
Based on application, the automotive simulation market is categorized into testing and prototyping. The testing category is expected to account for larger revenue in the market throughout the forecast period. It can be mainly due to the fact that manufacturers are working on various models based on varying parameters, which require testing of models before finalizing and validating their results.
On the basis of component, the automotive simulation market is bifurcated into service and software. Between the two, the services category is expected to witness faster growth during the forecast period. It can be attributed to the increasing demand for product designs and process enhancement by using consulting and design services.
Geographically, the automotive simulation market is classified into North America; Europe; Asia-Pacific (APAC); and Latin America, Middle East, and Africa (LAMEA). Among these regions, APAC is expected to hold significant share during the forecast period, mainly based on rapid industrial developments and presence of major automobile markets, such as China, Japan, and India. Moreover, OEMs are currently offering advanced parking assistance systems, key-less entry systems, and telematics in their vehicles, which, in turn, are supporting the regional market growth.
Automotive Simulation Market Dynamics
One of the major growth drivers for the automotive simulation market is the increasing investment and focus on R&D of simulation technologies by major automobile manufacturers and technology developers. These technologies are mainly focused on improving safety features and assistance to the drivers. In addition to this, rapidly growing demand from consumers for vehicles with advanced safety and autonomous features is expected to drive the market growth.
Rapidly emerging advanced technologies for various vehicle categories are expected to create growth opportunities for the automotive simulation market. Development of simulation software and related technologies for autonomous cars, fleet management, smart driving, and truck platooning is expected to further create opportunities for players operating in the market.
Automotive Simulation Market Competitive Landscape
Some of the major players operating in the global automotive simulation market are dSPACE GmbH, Dassault Systmès SE, Synopsys Inc., Siemens AG, ANSYS Inc., PTC Inc., Altair Engineering Inc., SIMUL8 Corp., and The MathWorks Inc. Many of these players are taking strategic measures, such as mergers & acquisitions and partnerships, for the development of innovative technologies and to enhance their product performance.
The report covers country-wise automotive simulation market analysis. Some of the major countries covered in the report are the U.S., Canada, the U.K., France, Germany, Russia, Italy, China, Japan, India, South Korea, Australia, Brazil, Argentina, Mexico, and the U.A.E.
Automotive Simulation Market Segmentation