The automotive simulation market is projected to grow from USD 1.4 billion in 2018 to USD 2.9 billion by 2025, at a CAGR of 11.1% during the forecast period. The demand for enhanced safety, convenience, and comfort features in automobiles is growing steadily. These rapid changes compel manufacturers to alter their designs repetitively. These continuous changes in powertrain, HEV/EV, chassis, advanced driver assistance, and infotainment systems are expected to drive the growth of the automotive simulation market.
Some of the key players in the automotive simulation market are Altair (US), Ansys (US), PTC (US), Siemens (Germany), Autodesk (US), Dassault Systèmes (France), Synopsis (US), MathWorks (US), and ESI (France). Ansys is anticipated to be a dominant player in the automotive simulation market. New product developments, expansions, collaborations, and supply contracts are the key strategies adopted by these players to gain traction in the automotive simulation market.
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Ansys (US) is a leading player in the automotive simulation market. In September 2018, ANSYS launched ANSYS 19.2 which delivers faster problem-solving capabilities across the entire portfolio. The newly released ANSYS 19.2 enables customers to solve their most difficult product development challenges faster than ever. It empowers more users to accelerate the design process with its new single window, efficient workflows, and patent-pending advanced meshing technology for Computational Fluid Dynamics (CFD). Also, in March 2018, ANSYS entered into a definitive agreement to acquire OPTIS, a premier provider of software for scientific simulation of light, human vision, and physics-based visualization. The acquisition of OPTIS will extend ANSYS' industry-leading multiphysics-based portfolio into the increasingly important area of optical simulation. The transaction is expected to close in the second quarter of 2018.
Altair (US) adopted the strategy of partnership to strengthen its market position. In October 2017, Altair partnered with Chiastek, a product model-based systems engineering company. Altair added Chiastek’s CosiMate, a simulation-based design, to enable virtual product development as a part of the software offering. CosiMate is a platform for engineers to perform the modeling and simulation of an overall system made of hydraulics, mechanicals, electronics, or other components. CosiMate is mainly used in the automotive and aerospace industries. In May 2017, Altair partnered with Artemis Racing, a professional sailing team. Together, the companies enhanced the foiling technology using the simulation technology.
Automotive Simulation Market by Deployment (On-premises & Cloud), Component (Software & Services), End Market (OEMs, Automotive Component Manufacturers, & Regulatory Bodies), and Region (Asia Pacific, Europe, North America, & RoW) - Global Forecast to 2025
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