Market Trends of Simulation Software Industry
Automotive Segment is expected grow at a faster pace.
- The automotive industry is witnessing a paradigm shift in adopting multiple technologies in its value chain. Macro trends, such as the development of autonomous vehicles and the drive toward more efficient and electric vehicles, influence the increased demand for simulation in the automotive sector. In contrast, traditional demand in vehicle simulation continues to gain general acceptance.
- Once used by automakers for limited use cases in vehicle design, high-performance computer (HPC) simulation, using computer-aided engineering (CAE) applications, has come a long way in improving and optimizing all aspects of product development, including the manufacturing process.
- The most efficient and cost-effective manufacturing processes are now determined by the same CAE simulation tools used in the vehicle design process. Simulation has become exceptionally valuable as new materials, such as aluminum and plastics, are introduced and enables manufacturers to avoid expensive inefficiencies of the traditional trial-and-error approach to establishing the production process of a new vehicle.
- With the aid of simulation software, multiple vehicle variants in all possible driving situations are played through with immense effort, even before the car's prototype. Presently, BMW is building a massive facility for such simulations in its Munich headquarters.
- With the new system, which is expected to be fully operational, BMW intends to strengthen its development expertise in autonomous driving. Using highly dynamic simulations of real driving situations, the engineers want to carry out virtual tests of future HMI concepts, displays, driver assistance, and driving automation systems.
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North America Occupies the Largest Market Share
- With the growing number of SME units in the region and the increasing focus on research and development activities in North America, the market is expected to witness significant growth over the forecast period.
- In addition, the governments in the North American region are constantly focusing on innovation and investment for a greener work environment. The regulations associated with the eco-friendly work environment are becoming stringent in the region, and as a result, companies are adopting simulators to test product viability before manufacturing it.
- Also, the innovative city initiatives taken by the government in this region have positively impacted the adoption trend of simulation and analysis technology to enhance monitoring and improve surveillance.
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