Automotive Simulation Market Size

Automotive Simulation Market Size

Automotive Simulation Market size exceeded USD 2 billion in 2021 and is anticipated to witness over 10% CAGR from 2022 to 2030. Rising demand for automated vehicles across the globe will drive the industry growth.

The rapid change in consumer preference for electric vehicles and premium cars that supply optimum power and speed is likely to foster automotive simulation software demand owing to its ability to provide fast acceleration and stable driving performance, enhance vehicle efficiency, and reduce carbon footprint, which is proliferating product uptake.
 

Additionally, the introduction of stringent vehicle safety regulations in numerous countries is set to provide lucrative opportunities for automotive simulation market outlook. The burgeoning focus of regulatory agencies on improving passenger safety and enabling OEMs to detect faults before customer use by incorporating automotive simulation software is predicted to augment industry dynamics. For instance, in September 2022, the UK Government’s Vehicle Certification Agency began evaluating the use of the Safety Pool Scenario Database in the approval process for automated driving systems. Built by experts from Silicon Valley-headquartered Deepen AI and the University of Warwick, Safety Pool is touted to be the largest public scenario database for testing autonomous vehicles.