Global Automotive Simulation Market is expected to witness exponential growth during the forecast period
Market Research Future published a Half Cooked Research Report Global Automotive Simulation Market that contains the information from 2018 to 2023. The Global Automotive Simulation Market is expected to progress with the CAGR of ~10% from 2018 to 2023.
Taste the market data and market information presented through more than 100 market data tables and figures spread in 88 numbers of pages of the project report. Avail the in-depth table of content & market synopsis on “Global Automotive Simulation Market Information from 2018 to 2023″
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The prominent players in the global Automotive Simulation Market include ESI Group (Germany), dSPACE GmbH (Germany), ANSYS, Inc. (US), MOOG INC. (US), Dassault Systèmes (France), PG Automotive GmbH (Germany), TESIS GmbH (Germany), Siemens PLM (US).
Automotive simulation helps in easy coordination and configuration of the vehicle’s dynamics, monitoring, and receiving feedback from driver through graphic interface to meet demands such as new solutions, high-performance, innovative approaches from OEMs, component suppliers, and governmental bodies.
Automotive simulation aids in cost saving during the testing of a vehicle and enables to re-engineer different vehicle parts and deliver innovations faster through rapid virtual prototyping and testing for smart controls, electrification, energy efficiency, and light-weighting. Moreover, vehicle manufacturers and component suppliers rely on simulation software to maximize productivity, respond to changing customer demand, support continuous improvement, and reduce costs to align with the growing production program costs.
The increasing investments by prominent vehicle manufacturers for developing advanced vehicle technology such as safety critical control software, smart electronics, and autonomous driving systems is attributed to the need of automotive simulation coupled with improvement of fuel efficiency and emission reduction.
Moreover, the rising demand for providing macro level information along with improvement in the understanding of the decision-making processes in manufacturing and assembly plants to augment the growth of simulation program generators that are eco-friendly.
The global Automotive Simulation Market is estimated to witness ~10% CAGR during the period from 2018 to 2023.
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The global Automotive Simulation Market is segmented on the basis of application, end users, deployment, component, and region.
On the basis of application, the market has been segmented into drive systems, mechanical components, and fluid power.
On the basis of end users, the market has been segmented into OEM, component suppliers, and research & engineering organizations.
On the basis of deployment, the market has been segmented into on-premises and cloud.
On the basis of component, the market has been segmented into software and services.
The segmentation based on application, the drive system segment is projected to be dominant during the study period. This growth is attributed due to the installation of different drive type across passenger cars and commercial vehicles.
In segmentation based on end users, the OEM segment is witnessing to grow at fastest rate during the review period due the implementation of stringent standards pertaining to vehicle manufacturing and assembling. In addition, the testing and simulation of vehicles by government bodies to drive the global automotive simulation market during the forecast period.
On the basis of deployment, the cloud segment is projected to hold the larger share in the Automotive Simulation Market from 2018 to 2023. This growth is attributed due to implementation of cloud computing to save on operational expenditures, enhance flexibility, and create scaled computing environments. Moreover, on-premise software helps in keeping the data secure along with organizing the data using own IT infrastructure.
In the segmentation based on component, the service segment is projected to witness faster growth during the review period.
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging & high-growth segments. The market data comprises the necessary assessment of the competitive scenarios and strategies in the global Automotive Simulation Market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing & cost analysis.