Global Automotive Simulation Market is expected to rise from its initial estimated value of USD 1.37 billion in 2018 to an estimated value of USD 3.19 billion by 2026, registering a CAGR of 11.15% in the forecast period of 2019-2026. This rise in market value can be attributed to the significant R&D activities undergoing in the market, with the usage of cloud computing for automotive simulation expected to be a factor for driving the market growth. Few of the major market competitors currently working in the automotive simulation market are Altair Engineering Inc., ANSYS Inc., PTC, Siemens AG, Autodesk Inc., Dassault Systèmes, Synopsys Inc., The MathWorks Inc., ESI Group, IPG Automotive GmbH, AVL, Aras, COMSOL INC., SIMUL8 Corporation, Design Simulation Technologies Inc., dSPACE GmbH, OPAL-RT TECHNOLOGIES Inc., SimScale, and The AnyLogic Company.
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Global Automotive Simulation Market By Deployment (On-Premises, Cloud), Component (Software, Services), End Market (OEM, Automotive Component Manufacturers, Regulatory Bodies), Application (Prototyping, Testing), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026
Global automotive simulation market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of automotive simulation market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Automotive simulation can be defined as the virtual reconstruction in a virtual environment of real automobile vehicles. It is a software-based technology that is used for cloning the external factors and predicts how a vehicle would interact with those factors. It is also used to teach the beginners to learn the basics of the vehicles and driving.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
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Reasons to Purchase this Report
· Current and future of Global Automotive Simulation Market outlook in the developed and emerging markets
· The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
· Regions/countries that are expected to witness the fastest growth rates during the forecast period
· The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report
· The report includes the complete segmentation displayed above across all above mentioned countries
- Innovative and constant technological advancements in the market is expected to drive the market growth
- Constant R&D activities undergoing in the market along with the usage of cloud computing is also expected to be driving the market growth
- Constraints and complications related to real-time control in simulation activities is also expected to restrain the market growth
- Lack of set standards and regulations is expected to pose as a restraint to the market growth
Segmentation: Global Automotive Simulation Market
- By Deployment
- By Component
- By End Market
- Original Equipment Manufacturer (OEM)
- Automotive Component Manufacturers
- Regulatory Bodies
- By Application
- By Geography
- North America
- South America
- Middle East & Africa
Key Developments in the Market:
- In May 2018, Siemens AG announced the investment of USD 5 million into American Center for Mobility that includes hardware, software and support for the Willow Run autonomous testing /simulation track.
- In March 2018, ANSYS Inc. announced that they had reached an agreement to acquire OPTIS, which is expected to expand the technological capabilities of simulation processes and activities for ANSYS Inc.
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