According to our latest market study on “Automotive System Simulation Software Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Vehicle Type, and Propulsion Type,” the market was valued at US$ 1,142.52 million in 2021 and is expected to grow at a CAGR of 12.6% during the forecast period of 2021 to 2028 to reach US$ 2,616.37 million by 2028.

 

A substantial rise in the popularity of passenger and commercial vehicles with intelligent devices, features, and technologies has resulted in the continuous engagement of automakers in introducing innovations in the design and functionalities of new models. These innovations and advanced features are attracting a fair percentage of customers in major automotive manufacturing countries. For example, in 2021, Volkswagen, a leading German multi-brand automotive group, displayed exceptional performance in the areas of electromobility and interfaces such as augmented reality-based head-up displays. Similarly, Daimler, a world-class luxury vehicle producer and a global leader in terms of innovation index, has made tremendous progress in the fields of autonomous driving and the MBUX operating systems. With the escalating consumer demand for smart and semiautonomous / fully autonomous cars, automotive system simulating tools have become an integral part of R&D activities in the automotive sector. The growth trajectory of fully autonomous cars depends upon parameters such as improvements in related technologies, consumer preference for new technologies, suitability of pricing among masses, and ability of suppliers and OEMs to address critical concerns related to the safety of vehicles. As a result, major automotive players chiefly focus on improving and integrating robust technologies in vehicles through the use of real-environment-based virtual test scenarios. rFpro, a prominent automotive simulation platform developer, offers dedicated driving simulation software and digital-twin models for the validation of autonomous driving; and the development, testing, and validation of ADAS and vehicle dynamics. These factors are expected to accelerate the adoption of simulators for the production of advanced vehicles to optimize autonomous vehicle safety and performance, thus introducing significant future trends in the automotive system simulation software market in the coming years.

 

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Key Findings of Study:

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 to develop fuel-efficient engines. Based on vehicle type, the global automotive system simulation software market has been segmented into commercial vehicles and passenger cars. The passenger cars segment dominates the automotive system simulation software market due to continuous developments in vehicle dynamics, engines, and power systems.  Based on propulsion type, the global automotive system simulation software market has been segmented into ICE and electric. The ICE propulsion type segment dominates the market as simulation software is widely used for engine system applications. However, the rising demand for electric propulsion would propel the market for the electric segment at a higher CAGR during the forecast period. By geography, the automotive system simulation software market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). Asia Pacific dominated the automotive system simulation software market in 2020.

 

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