Automotive Simulation Market Opportunities & Forecast To 2030

Automotive Simulation Market Segments, Emerging Technologies
and Market Growth by Forecast to 2030
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Automotive simulation is the usage of simulation software for model testing and prototyping
of an automobile to ensure the complete functionality of the vehicle. In recent years,
automakers have been increasingly using this software for vehicle testing because they are
working on several models based on varying parameters, which need model testing before
they are validated and finalized. In the coming years, advanced simulation software and
related technologies will be largely used for autonomous cars, smart driving truck platooning,
and fleet management.
The surging integration of simulation features in vehicles can be credited to the growing
awareness about vehicle and passenger safety. Owing to this reason, the automotive
simulation market will register considerable growth during 2020–2030. At present, simulation
software developers and automotive original equipment manufacturers (OEMs) are actively
focusing on research and development (R&D) activities to introduce advanced systems. To
offer advanced solutions, OEMs are increasingly using the internet of things (IoT) technology
in their safety systems.
In recent years, automation simulation software providers, such as dSPACE GmbH, The
MathWorks Inc., Synopsys Inc., Dassault Systmès SE, ANSYS Inc., Siemens AG, PTC Inc.,
SIMUL8 Corp., and Altair Engineering Inc. have been emphasizing on partnerships and
mergers and acquisitions to develop innovative technologies and improve their product
performance. The technologies offered by such companies aim at enhancing safety features
and offering assistance to the drivers. Moreover, with the ongoing developments in
autonomous technology, simulation software will be required in abundance in the forthcoming
futures.
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With the increasing number of vehicles and electric vehicles (EVs), the requirement for
simulation services and software offered by the aforementioned companies will amplify at a
significant rate in the coming years. According to the International Organization of Motor
Vehicle Manufacturers (OICA), in 2020, 77.9 million vehicles were sold across the world. As
per OICA, 53.5 million passenger cars and 24.3 million commercial vehicles were sold in
2020. Moreover, the International Energy Agency (IEA) projects that 79.9 million battery
electric vehicles (BEVs) and 44.3 million plug-in electric vehicles (PHEVs) will be sold by
2030.
Between the automotive simulation software and service, the demand for the latter is predicted
to surge sharply in the upcoming years. This will be a result of the fact that many automakers
all over the world are increasingly adopting consulting and design services in order to cater to
the burgeoning requirement for process enhancement and product designs. This is
subsequently fueling the advancement of the automotive simulation market across the world.
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According to P&S Intelligence, the Asia-Pacific (APAC) region will adopt this software at a
rapid pace over the next few years. This is owed to the rapid industrial developments and
booming automobile production and sales in regional countries, such as India, Japan, and
China. Moreover, the integration of advanced parking assistance systems, telematics, and leyless
entry systems by automakers in their vehicles will also amplify the usage of such software
in the APAC countries.
Thus, the surging awareness about vehicle and passenger safety and mounting sales of
conventional vehicles and EVs will create a huge requirement for automotive simulation
software and services in the foreseeable future.
This study covers
1. Historical and the present size of the Automotive Simulation Market
2. Future potential of the market through its forecast for the period 2020– 2030
3. Historical and the present size of the market segments and understand their
comparative future potential
4. Potential of on-demand logistics services, so the market players make informed
decisions on the sales of their offerings
5. Competitive scenario of various market segments across key countries in several
regions for uncovering market opportunities for the stakeholders
6. Major players operating in the market and their service offerings
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