Automotive Simulation Market to Garner $5.4 Billion by 2030: The Brainy Insights

The rise in the production of semi-autonomous and autonomous vehicles is expected to have a positive impact on the automotive simulation market growth in recent years. North American region emerged as the largest market for automotive simulation, with a 40.5% share of market revenue in 2021.

Newark, June 06, 2023 (GLOBE NEWSWIRE) -- The global automotive simulation market is anticipated to reach USD 5.4 billion by 2030, at a CAGR of 13.4% from 2022 to 2030. With the growing connectivity and digitalization, the manufacturers are specializing in improving cybersecurity over linked automobiles & gadgets, which is expected to fuel the automotive simulation market. With the growing demand for product design and development, the automobile industry will undergo a tremendous transformation in the upcoming years.

The automotive simulation market refers to the use of computer-based simulations and modeling techniques to replicate and analyze various aspects of the automotive industry. It encompasses a wide range of applications, including vehicle design, testing, virtual prototyping, driver training, and simulation-based optimization.

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In recent years, the automotive simulation market has experienced significant growth due to advancements in computer technology, software capabilities, and increased emphasis on safety and efficiency in the automotive industry. Simulation allows automotive manufacturers, suppliers, and researchers to simulate real-world scenarios and evaluate the performance of vehicles, components, and systems in a virtual environment, without the need for costly physical prototypes and testing.

Key factors driving the growth of the automotive simulation market include:

Vehicle Development and Design: Simulation enables automotive manufacturers to design and optimize vehicle components, systems, and overall vehicle performance before physical prototypes are built. This helps reduce development time, costs, and risks associated with traditional prototyping and testing.

Testing and Validation: Simulations allow for extensive testing and validation of vehicle systems, such as powertrain, chassis, and safety features, in various driving conditions and scenarios. This helps identify potential issues and improve performance, safety, and reliability.

Autonomous Vehicle Development: With the rise of autonomous vehicles, simulation plays a crucial role in testing and validating advanced driver assistance systems (ADAS) and autonomous driving algorithms. Simulations allow for the assessment of complex scenarios, edge cases, and rare events that are challenging to replicate in real-world testing.

Training and Education: Automotive simulation is used for driver training and education purposes, providing virtual environments for learners to practice driving skills, understand road rules, and experience different driving conditions without the risks associated with real-world training.

Environmental and Fuel Efficiency Analysis: Simulation tools enable automotive companies to analyze and optimize vehicle designs for improved fuel efficiency, reduced emissions, and compliance with environmental regulations.

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The automotive simulation market includes a variety of software tools and solutions offered by both established companies and startups. These tools range from general-purpose simulation software to specialized platforms designed for specific automotive applications.

Overall, the automotive simulation market is expected to continue growing as automotive manufacturers and suppliers increasingly adopt simulation-based approaches to enhance vehicle development, testing, and performance optimization. The integration of artificial intelligence (AI) and machine learning (ML) techniques into simulation tools is also expected to further drive advancements in this field.

Key Findings of Automotive Simulation Market:

The cloud segment is expected to register the highest CAGR in the forecast years.

The deployment segment is divided into cloud and on-premises. The cloud segment is expected to register the highest CAGR during the forecast timeline. The segment growth is mainly attributed because the cloud offers much faster and more efficient deployment of programs its features to their customers easily. Also the growing demand for the software-as-a-service (SaaS) models is likely to foster segment growth and its development.

The software segment held the largest market value of in 2021.

The component segment includes software and services. The software segment held the largest market share of around 59% in 2021. The automobile manufacturers are focused on developing new simulation software's so as to provide a vivid customer experience. Additionally, the manufacturers are aiming to improve and optimize the cybersecurity solution within connected cars and automobiles. Thus this factor is contributing towards the segment growth.

The testing segment held the largest market share of around USD 0.97 billion in 2021.

The application segment includes testing and prototyping. The testing segment held the largest market share of around 56% and was valued at 0.97 billion in 2021. This is because the manufacturers are involved in developing various simulation sub-models and models (depending upon several parameters and functionalities), which require testing before finalization and implementation of the software solution. The testing step is considered to be the preliminary and crucial stage of simulation software development.

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Regional Segmentation Analysis:

The regions evaluated for the automotive simulation market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. Asia Pacific region is anticipated to grow at the highest CAGR over the forecast timeline for the global automotive simulation market. The regional growth is mainly attributed owing to the increased stability in the economic and emerging countries such as India and China. Furthermore, the region has become an automobile manufacturing hub over the years. The automobile manufacturers have started to establish their base and production facility in this region owing to the cheap availability of labor and raw materials. The rising urbanization and industrial development are projected to provide a fruitful opportunity for regional market growth and development.

Competitive Analysis:

Major players in the global automotive simulation market are Altair Engineering Inc., Ansys, Inc., Applied Intuition, , Foretellix, Ascent Robotics, Autodesk, Inc., AVL, Synopsys, Inc., Cognata, Comsol, Dassault Systemes SE, Design Simulation Technologies Inc., Simscale, Dspace GmbH, ESI group, ESSSIPG Automotive GmbH, Siemens AG, SIMUL8 Corporation, The AnyLogic Company and The MathWorks, Inc. among others.

About the report:

The global automotive simulation market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis,The Brainy Insights is a market research company aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements, whether they are looking to expand or planning to launch a new product in the global market.

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