Automotive Simulation Market Size, COVID19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3200
Automotive Simulation Market size is projected to witness considerable growth in the coming years driven by ongoing rapid development, innovation, and continuous improvements in autonomous vehicle technology. Automakers and automobile OEMs are increasingly investing in self-driving technologies such as ADAS, smart electronics, and safety critical control software, creating a substantial demand for automotive simulation tools and solutions.
Automotive simulation software, or automotive simulators, are used by carmakers and component suppliers to maximize productivity, cut costs, respond to the changing customer demand, and help in continuous improvement. These systems are typically controlled through real-time simulation and modelling tools which help in easy configuration of the vehicle’s dynamics, monitoring, and driver feedback via a graphical interface.
Automotive simulation tools enable automakers to re-engineer different vehicle components and deliver faster innovation through rapid virtual prototyping and testing for energy efficiency, electrification, light weighting, and smart controls. The demand for new vehicle testing applications powered by high-performance equipment and more innovative approaches is increasing due to the dramatic change in environment. Additionally, the increased adoption of connected vehicles and the need to comply with the latest automotive industry standards will positively impact automotive simulation market outlook.
Ansys, Inc., Altair Engineering Inc., Design Simulation Technologies, Inc., Dassault Systèmes SE, ESI Group, dSPACE GmbH, PTC, Inc, IPG Automotive GmbH, Siemens AG, SIMUL8 Corporation, The MathWorks, Inc., and Synopsys, Inc. are among the notable companies involved in the development of automotive simulation software market. Considering the evolving needs of the auto industry and the importance of innovation for its future development, these companies are continuously working on introducing new, more advanced simulation tools for the auto industry.
In January 2021, for example, Ansys Inc. had rolled out 2021 R1, the latest update for its suite of products, which will provide new capabilities for automakers and OEMs designing autonomous cars and electrical vehicles. The new update, according to the company, delivers improvement in simulation performance and enhanced capabilities through high-performance computing resources.
Citing another instance, in April 2021, Synopsys Inc. unveiled its PrimeSim Continuum platform, a unified workflow for circuit simulation technologies designed to speed the development of hyper-convergent designs for the automotive industry and other applications. The new GPU acceleration technology provides design teams up to 10x improvements in runtime with golden signoff accuracy.
Back in May 2019, Siemens had introduced a new simulation technology for testing of self-driving cars that could help carmakers reduce the number of physical test miles required for the validation of autonomous vehicles.
The automotive simulation market is slated to witness similar trends in the near future as developers prioritize R&D and product innovation. Consequently, simulation technologies for the auto industry which have evolved significantly over the years, will become more advanced and more powerful than ever.
COVID-19 crisis and its impact on automotive simulation industry forecast
Like many other industries, the automaking business has taken a major hit due to the COVID-19 pandemic during 2020. The pandemic and subsequent crisis has impacted the operations of all major automakers and OEMs, from research and development to design and production. The automotive simulation market witnessed a slow growth period during a major part of 2020 as self-driving vehicle companies delayed testing and postponed the rollout of vehicles.
For instance, in May 2020, multiple auto giants including General Motor Company, Ford Motor Company, and Waymo LLC had temporarily suspended or postponed their autonomous vehicle testing and deployment, setting back progress in the development of simulation technologies.
However, the disruptions to autonomous vehicle testing and deployment are expected to be short-term as new opportunities for adoption of self-driving vehicles in consumer segments as well as commercial segments arise. Self-driving technology is being increasingly seen as a vital component of responding in times of uncertainty and emergencies and will witness rapid adoption in the coming years, creating a promising growth outlook for the automotive simulation market.
This automotive simulation market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2027, for the following segments:
Market, By Component, 2017-2027 (USD Million)
Market, By Deployment model, 2017-2027 (USD Million)
Market, By Application, 2017-2027 (USD Million)
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
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