Electric Vehicle Simulation Testing and Design Software Market to be dominated by Product Engineering segment till 2026
Flourishing automotive
industry and introduction of advanced simulation and testing software are
expected to drive the global electric vehicle simulation, testing and design
software market for the forecast period.
According to TechSci Research report, “Electric
Vehicle Simulation Testing and Design Software Market - Global Industry
Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Type (Simulation Software, Testing
Software, Design Software), By Simulation Software (Powertrain Simulation, ADAS
Simulation, Vehicle Dynamics Simulation, Others), By Testing Software (Test I/O
Hardware, Test Processor & Storage, Others), By Design Software (Computer
Aided Design, Computer Aided Manufacturing, Product Design Management, ECU
Design Software, Others), By Deployment (On Premise and Cloud), By Application
(Product Engineering, Research and Development, Gamification & Others) and
By Region”, the global electric
vehicle simulation, testing and design software market is expected to grow at a
rate of steady CAGR for the forecast period, 2022-2026. The growing demand for
mobility solutions with less environmental impact is influencing the demand for
electric vehicles across the globe. Adopting the simulation, testing and design
software by the electric vehicle manufacturers to design the advanced electric
vehicle by making smart decisions and test the vehicle performance to prepare in
advance is boosting the global electric vehicle simulation, testing and design
software market demand. The prior simulation during the electric vehicle
manufacturing process provides the engineer with an opportunity to create a
prototype to test the working and different functions of the car to save time
wasted in creating different electric vehicle physical models.
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Global
electric vehicle simulation, testing and design software market is segmented
into type, deployment, application, regional distribution, and company. Based
on deployment, the market is bifurcated into on premise and cloud. The cloud
segment is expected to witness the fastest incremental growth for the forecast
period, 2022-2026. Cloud solutions provide enhanced scalability, accessibility
and have a large storage capacity. It can be accessed by multiple users and has
high speed. Based on type, the market is divided into simulation software,
testing software, and design software. The simulation software segment is
expected to account for major market share for the next five years. Simulation
software helps identify issues or faults before investing time and resources,
which helps the manufacturers take appropriate steps. The rise in the demand
for advanced manufacturing techniques and the presence of intricate designs to
enhance the aesthetic appeal of electric vehicles is significantly contributing
to the market growth. Based on application, the market is divided into product
engineering, research and development, gamification, and others. The product
engineering segment is expected to dominate the market for the next five years.
The rising demand for renewable energy owing to the environmental benefits and
the growing disposable income of middle-class families in the developing
economies is accelerating the demand for electric vehicles. The adoption of
advanced engineering models and the technology and the high-end investments by
the manufacturers in research and development activities to launch innovative
features in an electric vehicle is expected to bolster the market growth for
the next five years.
IBM
Corporation, Microsoft Corporation, Amazon Web Services, Inc., Alphabet, Inc.,
Oracle Ansys, Inc., Hexagon AB, ESI Group, AVL List GmbH, Altair Engineering,
Inc., Siemens AG, Autodesk, Inc., Dassault Systèmes SE, Cadence Design Systems,
Inc., PTC Inc. are the leading players operating in global electric vehicle
simulation, testing and design software market. Service providers are
increasingly focusing on research and development process to fuel higher growth
in the market.
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“Leading
authorities around the globe are introducing supportive policies for the
development of the electric vehicle charging infrastructure to boost the demand
for electric vehicles, contributing to the demand for electric vehicles. The
growing demand for improved efficiency decreased charging time, enhanced
battery capacity and fast driving speed is pushing the manufacturers to invest
in the research and development activities to make advanced vehicles and reduce
the manufacturing costs to create new designs and test the efficiency is expected to propel the
global electric vehicle simulation, testing and design software market till
2026” said Mr. Karan Chechi, Research Director with TechSci Research,
a research based global management consulting firm.
“Electric Vehicle
Simulation, Testing and Design Software Market - Global Industry Size, Share,
Trends, Opportunity and Forecast, 2016-2026 Segmented By Type
(Simulation Software, Testing Software, Design Software), By Simulation
Software (Powertrain Simulation, ADAS Simulation, Vehicle Dynamics Simulation,
Others), By Testing Software (Test I/O Hardware, Test Processor & Storage,
Others), By Design Software (Computer Aided Design, Computer Aided
Manufacturing, Product Design Management, ECU Design Software, Others), By
Deployment (On Premise and Cloud), By Application (Product Engineering,
Research and Development, Gamification & Others) and By Region” has
evaluated the future growth potential of global electric vehicle simulation,
testing and design software market and provided statistics & information on
market size, shares, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in the
of global electric vehicle simulation, testing and design software market.
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