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(I-AutoNewsWire.com, April 27, 2021 ) The report “Automotive Simulation Market by Deployment (On-premises & Cloud), Component (Software & Services), End Market (OEMs, Automotive Component Manufacturers, & Regulatory Bodies), and Region (Asia Pacific, Europe, North America, & RoW) – Global Forecast to 2025″, The automotive simulation market is projected to grow at a CAGR of 11.1% during the forecast period, to reach USD 2.9 billion by 2025 from an estimated USD 1.4 billion in 2018.
The demand for enhanced safety, convenience, and comfort features in automobiles is growing steadily. These rapid changes compel manufacturers to alter their designs repetitively. These continuous changes in powertrain, HEV/EV, chassis, advanced driver assistance, and infotainment systems are expected to drive the growth of the automotive simulation market.
On-premises segment, by deployment, is estimated to hold the largest market share during the forecast period.
The on-premises segment of the automotive simulation market is estimated to be the largest during the forecast period. The on-premises segment holds the largest market share owing to their wide range of functionalities such as high-end security, easy deployment, and complete access to network solutions. Moreover, the on-premises deployment mode helps in upgrading the in-house capabilities of the simulation and analysis technology.
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Services segment of the automotive simulation market is estimated to be the fastest growing segment, by component, from 2018 to 2025
The services segment of the automotive simulation market is estimated to be the fastest growing segment. The demand for services is also likely to increase, specifically for design and consulting. The market share of this segment is increasing due to an increase in the demand for software as a service such as pay per use and pay per hour services.
Asia Pacific to be the largest market for automotive simulation software in 2025
Asia Pacific is projected to be the largest market for automotive simulation software from 2018 to 2025. The market growth in this region can be attributed to the increasing vehicle production, changing in-vehicle electronic architecture, increasing in-vehicle services connected to the external cloud, and expansion of leading OEMs and automotive component suppliers. The market growth in the region can also be attributed to the increasing sales of connected vehicles and government initiatives regarding the use of environment-friendly electric vehicles.
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Key Market Players:
The automotive simulation market is dominated by globally established players such as Ansys (US), Altair (US), Siemens PLM (US), PTC (US), and Dassault Systèmes (France). Also, Design Simulation Technologies (DST) (US), SimScale (Germany), and AnyLogic (US) provide automotive simulation solutions.
Key Questions addressed by the report
• Where will all these developments take the industry in the mid- to long-term?
• How increasing adoption of electric vehicles and changing environmental norms affecting the automotive simulation market?
• What new application areas are the automotive simulation software providing companies exploring?
• Which are the key players in the market and how intense is the competition?
• How will the advent of autonomous vehicles impact the market?
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Mr. Aashish Mehra