New York, March 14, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Automotive System Simulation Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Transmission, Engine, Electric Propulsion, Fuel Cell, Driveline, Chassis and Others), Vehicle Type (Commercial Vehicle and Passenger Car), and Propulsion Type (ICE and Electric)”, the global automotive system simulation software market growth is driven by the growing complexities of vehicle architectures with the rising number of functionalities, upgrading of vehicle functions and increase in number of E/E components, booming automotive sector in Asia Pacific.
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| Report Coverage | Details |
| Market Size Value in | US$ 1,142.52 million in 2021 |
| Market Size Value by | US$ 2,616.37 million by 2028 |
| Growth rate | CAGR of 12.6% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 174 |
| No. Tables | 88 |
| No. of Charts & Figures | 82 |
| Historical data available | Yes |
| Segments covered | Type, Vehicle Type, and Propulsion Type |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Automotive System Simulation Software Market: Competitive Landscape and Key Developments
Modelon AB; IPG Automotive GmbH; ESI Group; Ansys, Inc.; Realtime Technologies; Hexagon AB; SimScale GmbH; Gamma Technologies, LLC; Siemens AG; and dSPACE GmbH are among the key players operating in the global automotive system simulation software market. Several other players have also been analyzed to understand the automotive system simulation software market.
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In June 2021, IPG Automotive GmbH relaunched its website with an exciting new design that provides users with an overview of the solutions and areas of application as well as other areas of interest, saving their valuable time.
In June 2019, Modelon announced a strategic collaboration with Aras, a platform provider for digital industrial applications. This strategic collaboration will enable Aras to incorporate and utilize—Modelica— the globally used modeling language of open standard systems. Partnering with Modelon, Aras will expand the scope of simulations that can be managed and automated within its low-code enterprise platform.
A significant impact of the transportation sector on the environment has created an unprecedented need for the decarbonization of automobiles worldwide to limit global warming, leading to a massive surge in the adoption of low-carbon-emitting technologies in this sector. The consequent shift in consumer perception toward near-zero-emission vehicles has significantly propelled the production and sales of light-duty electric vehicles (EVs) across the world, especially in stable economies, such as the US, China, and European Union countries. The share of new passenger EVs in the global automotive market has risen by 50% annually since 2015; furthermore, in 2021, the sales of EVs surged by a whopping 160% in these top three markets.
During 2020–2021, China has deployed the world’s largest fleet of EVs, with 4.5 million electric cars. Europe witnessed the most significant annual increase to reach 3.2 million electric passenger vehicles. The demand for EVs is further fueled by huge investments made by automotive giants in the research and development, and production of these vehicles, and these processes include testing vehicle performances through system simulation. These developments are driving the growth of the automotive system simulation software market. For instance, General Motors, Volkswagen, Volvo, BMW, Nissan, and Audi have confirmed the plan of collectively investing ~US$ 150 billion in the manufacturing of EVs; they have launched numerous new models during 2020–2021. Notably, designing an electric car requires an accurate balance between performance and energy efficiency by selecting optimum energy storage technology and minimizing powertrain losses. Such critical tasks make simulation a mandatory tool for developing a physical system for processes such as the integration of powertrain architecture or analysis of the embedded software. For example, Ansys, a leading multidomain simulation software developer, has created a host of simulation platforms for risk-free virtual testing of EVs during the development phase. These solutions include battery management systems (BMS), battery EMI/EMC simulation solutions, and electric motor design software.
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Simulation reduces the overall development time by ~50% as it allows automotive designers and engineers to conduct rapid prototyping for testing and configuring vehicle components, and eliminates the additional time spent on building physical models for every prototype and version. Therefore, the booming electric vehicle market, coupled with the essentiality of simulation platforms in EV development and production, is bolstering the automotive system simulation software market growth.
Automotive System Simulation Software Market: by Type Overview
Based on type, the global automotive system simulation software market has been segmented into transmission, engine, electric propulsion, fuel cell, driveline, chassis, and others. The engine segment dominates the automotive system simulation software market as there is a major demand for engine system simulation software in the development of fuel-efficient engines. The simulation software for engine testing is applied for the prediction of engine performance parameters, including power, torque, airflow, turbocharger performance and matching, volumetric efficiency, fuel consumption, and pumping losses. The growth of the automotive system simulation software market for engines can be directly linked to the adoption of physical models for extended predictions by including testing parameters and models, such as cylinder and tailpipe-out emissions, in-cylinder and pipe/manifold structure temperature, intake and exhaust system acoustic characteristics, measured cylinder pressure analysis, and control system modeling.
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