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.
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.
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Competitive Analysis: Global Automotive Simulation Market
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.
Key Market Competitors: Global Automotive Simulation Market
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.
Segmentation: Global Automotive Simulation Market
- By Deployment (On-Premises, Cloud)
- By Component (Software, Services)
- By End Market (OEM, Automotive Component Manufacturers, Regulatory Bodies)
- By Application (Prototyping, Testing)
- By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
- 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
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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