Dublin, April 05, 2022 (GLOBE NEWSWIRE) -- The "Automotive System Simulation Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Vehicle Type, and Propulsion Type" report has been added to ResearchAndMarkets.com's offering.
The automotive system simulation software market is projected to reach US$ 2,616.37 million by 2028 from US$ 1,142.52 million in 2021; it is expected to grow at a CAGR of 12.6% from 2021 to 2028.
APAC is at the forefront of the production and sales of automobiles, mainly due to the presence of the world's prominent automotive players, such as Honda, Tata, Toyota, and Geely Auto Group, in the region. Fast-growing economies such as China and India and developed countries such as Japan, Singapore, and Australia are generating huge demands for new vehicles. The current focus of Asian countries on developing a solid manufacturing sector has boosted the prospects of automotive manufacturing in the region.
For example, in August 2021, the Indian government launched The automotive Mission Plan, with a focus on increasing The automotive sector's contribution to national GDP to 12% and creating ~50 million new jobs. Furthermore, an unprecedented need to limit air pollution due to the alarming levels of emissions, especially from passenger vehicles, has encouraged these countries to enact strict regulations on ICE vehicles. Additionally, countries in the region, particularly China and Japan, are prompting the adoption of electric vehicles. According to the ZoZo Go, Electric vehicle makers sold a whopping 3.3 million units in China in 2021, reporting a surge from 1.3 million in 2020 and 1.2 million in 2019. The aforementioned factors are expected to drive The automotive system simulation software market in this region, owing to the ability of these solutions to speed up the production of vehicles and their components, without hampering their reliability.
The automotive system simulation software market constitutes prominent market players such as Ansys, Inc.; Hexagon AB; Siemens AG; and dSPACE GmbH. These companies dominate the market through new product development, acquisition, and expansion strategies. In December 2021, dSPACE GmbH, KPIT Technologies, and Microsoft Corporation collaborated to offer a unique solution for OEMs and Tier-1 companies to achieve homologation for advanced driver assistance systems.
Impact of COVID-19
The COVID-19 crisis had a cascading impact on the global automotive industry since its inception in China, where sales dropped down by 71% in February 2020; and subsequently, by April, sales declined by 47% in the US and crashed by a staggering 80% in Europe. This lowered the market demand as requirement from major automotive manufacturers has declined. However, as the supply chain started regaining some strength from the third quarter of 2020 through the second quarter of 2021, automakers have witnessed a steady rise in the production levels.
Furthermore, the crisis has brought rapid transformation across the mobility value chain and accelerated the digitization process occurring prior to it. Although the pandemic-related restrictions had led to prolonged or periodic shutdowns of production lines, non-manufacturing processes have continued to be attended by employees with secure connections through work-from-home or remote work model. The use of automotive system simulation software market has greatly assisted the production and research of automakers during the crisis since product development process could be continued with limited or no access to laboratories.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the automotive system simulation software market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the automotive system simulation software market thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Automotive System Simulation Software Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Automotive System Simulation Software Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Upgrading of Vehicle Functions and Increase in Number of E/E Components
5.1.2 Growing Production and Sales of Electric Vehicles
5.2 Market Restraints
5.2.1 Possibility of Invalid Research Outcomes
5.3 Market Opportunities
5.3.1 Booming Automotive Sector in Asia Pacific
5.4 Future Trends
5.4.1 Popularity of Autonomous Vehicles
5.5 Impact Analysis of Drivers and Restraints
6. Automotive System Simulation Software - Global Market Analysis
6.1 Global Automotive System Simulation Software Market Overview
6.2 Global Automotive System Simulation Software Market Revenue Forecast and Analysis
6.3 Market Positioning - Five Key Players
7. Automotive System Simulation Software Market Analysis - By Type
7.1 Overview
7.2 Automotive System Simulation Software Market, By Type (2020 And 2028)
7.3 Transmission
7.3.1 Overview
7.3.2 Transmission: Automotive System Simulation Software Market Revenue and Forecast To 2028 (US$ Million)
7.4 Engine
7.4.1 Overview
7.4.2 Engine: Automotive System Simulation Software Market Revenue and Forecast To 2028 (US$ Million)
7.5 Electric propulsion
7.5.1 Overview
7.5.2 Electric propulsion: Automotive System Simulation Software Market Revenue and Forecast To 2028 (US$ Million)
7.6 Fuel cell
7.6.1 Overview
7.6.2 Fuel cell: Automotive System Simulation Software Market Revenue and Forecast To 2028 (US$ Million)
7.7 Driveline
7.7.1 Overview
7.7.2 Driveline: Automotive System Simulation Software Market Revenue and Forecast To 2028 (US$ Million)
7.8 Chassis
7.8.1 Overview
7.8.2 Chassis: Automotive System Simulation Software Market Revenue and Forecast To 2028 (US$ Million)
7.9 Others
7.9.1 Overview
7.9.2 Others: Automotive System Simulation Software Market Revenue and Forecast To 2028 (US$ Million)
8. Global Automotive System Simulation Software Market Analysis - By Vehicle Type
8.1 Overview
8.2 Automotive System Simulation Software Market, By Vehicle Type (2020 and 2028)
8.3 Passenger cars
8.3.1 Overview
8.3.2 Passenger cars: Automotive System Simulation Software Market Revenue and Forecast To 2028 (US$ Million)
8.4 Commercial vehicles
8.4.1 Overview
8.4.2 Commercial vehicles: Automotive System Simulation Software Market Revenue and Forecast To 2028 (US$ Million)
9. Global Automotive System Simulation Software Market Analysis - By Propulsion Type
9.1 Overview
9.2 Automotive System Simulation Software Market, By Propulsion Type (2020 And 2028)
9.3 ICE
9.3.1 Overview
9.3.2 ICE: Automotive System Simulation Software Market Revenue and Forecast To 2028 (US$ Million)
9.4 Electric
9.4.1 Overview
9.4.2 Electric: Automotive System Simulation Software Market Revenue and Forecast To 2028 (US$ Million)
10. Automotive System Simulation Software Market - Geographic Analysis
11. Automotive System Simulation Software Market - Covid-19 Impact Analysis
11.1 Overview
11.2 North America: Impact Assessment of Covid-19 Pandemic
11.3 Europe: Impact Assessment of Covid-19 Pandemic
11.4 Asia Pacific: Impact Assessment of Covid-19 Pandemic
11.5 Middle East & Africa: Impact Assessment of Covid-19 Pandemic
11.6 South America Impact Assessment of Covid-19 Pandemic
12. Automotive System Simulation Software Market-Industry Landscape
12.1 Overview
12.2 Market Initiative
13. COMPANY PROFILES
13.1 Modelon AB
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 IPG Automotive GmbH
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 ESI Group
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Ansys, Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Realtime Technologies
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Hexagon AB
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 SimScale GmbH
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Gamma Technologies, LLC
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Siemens AG
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 dSPACE GmbH
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/qztwji
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