Global Automotive Simulation and Modeling Software Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Automotive Simulation and Modeling Software is Instrumental in Reducing Development Costs and Time-To-Market for New Automotive Innovations

The Global Global Automotive Simulation and Modelling Software Market is estimated to be USD 1.23 Bn in 2023 and is expected to reach USD 1.97 Bn by 2028 growing at a CAGR of 9.76%.

Automotive simulation is the practice of prototyping and testing vehicles on models to ensure they are fully functional. It is essentially a piece of software that contains methodologies, validated models, sub-models, and specific requirements for vehicle technology. The ANSYS software’s software tool. It is used in the instruction of driving techniques and knowledge of automotive technology. A driver assistance system, onboard power electronics, vehicle dynamic controls, and engine controls are tested and developed using advanced automotive simulation software, which simulates passenger cars and their components. A growing number of driving schools use automotive simulation in the vehicle environment because it enables students to practice driving safely. Automotive simulation is used in manufacturing to help OEMs identify any flaws in a vehicle component before it is installed, improving the effectiveness of the finished product.

The rapid advancement of novel technologies will soon cause structural changes in the automotive industry. The manufacturing process will undergo a significant transformation thanks to artificial intelligence (AI) and machine learning, which will increase robotic consistency, accuracy, and efficiency. Additionally, OEMs are concentrating on enhancing cybersecurity over connected vehicles and devices as a result of growing connectivity and digitalization, which is anticipated to drive the Automotive Simulation Market. Over the forecast period, it is anticipated that cybersecurity, quick infrastructure development, and advancements in 5G technology will all contribute to the growth of the Automotive Simulation Market.

However, simulation software and systems are highly expensive in nature; therefore, these expensive systems will significantly restrain the Global automotive simulation and modeling software market.

The rising development of automatic and semi-automatic vehicles is creating significant opportunities, creating a sharp demand in the coming years. Volvo, for example, has stated that they aim to have 100 automated cars on the roads of Gothenburg by as early as next year, while Tesla has already released their auto-pilot software and plans to offer their customers the full self-driving experience. And let’s not forget Ford, who has recently tripled their investment in semi-automated systems in order to compete with technology behemoths such as Google ( who just spun out its self-driving unit into a separate company called Waymo and Apple (who recently confirmed that they are working on an electric iCar to rival Tesla).

• However, as vehicles become more complex, the need for accurate and reliable simulation becomes more important. However, the complexity of vehicles also makes it more difficult to integrate different simulation tools and data sources. A wide variety of simulation tools are available, each with its own strengths and weaknesses. This makes it difficult to choose the right tools for the job and can also make it difficult to integrate them together.

Market Segmentations

• Global Automotive Simulation and Modeling Software Market is segmented based on Deployment, Component, and Geography.
• By Deployment, the market is classified into On-Premise and Cloud. The cloud segment is expected to grow at a faster rate during the forecast period. This is due to the increasing adoption of cloud-based solutions by automotive companies. Cloud-based solutions offer several advantages over on-premises solutions, such as scalability, flexibility, and cost-effectiveness.
• By Component, the market is classified into Software and Services. The software segment is expected to account for the largest share of the market during the forecast period. This is due to the increasing demand for software solutions that can help automotive companies simulate various aspects of vehicle design and development.
• By Geography, the market is classified into the Americas, Europe, Middle East and Africa, and Asia-Pacific. The market is segmented into America, Europe, Asia Pacific, and Rest of the World. Asia Pacific is expected to grow at the fastest rate during the forecast period. This is due to the increasing demand for automotive simulation software from countries such as China, India, and Japan.

Recent Development

• Ansys Inc. launched its latest product, which aims to offer its customers more accessible access to the company's suite of simulation tools. To introduce its new Ansys Gateway powered by AWS solution, Ansys teamed with Amazon Web Services Inc., a supplier of on-demand cloud computing platforms and a subsidiary of Amazon.com Inc.- October 2023
• Altair Engineering Inc. launched Simulation 2023.1, the most recent upgrade to the company's simulation portfolio. These upgrades allow more efficient, inventive goods by utilizing sophisticated modeling, cloud-based computing, and optimization for cleaner, more sustainable product lifecycles. - September 2023

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Altair Engg, Ansys, PTC, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of The Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for Global Automotive Simulation and Modeling Software Market. Ansoff Matrix, also known as The Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses Global Automotive Simulation and Modeling Software Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of Global Automotive Simulation and Modelling Software Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic and operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market