DUBLIN March 28, 2022 – The global autonomous vehicle simulation solutions market is expected to reach $2,971.4 million by 2031, with a CAGR of 13.4% during the forecast period 2022-2031.
According to studies, the autonomous vehicle simulation solutions industry is driven by several factors such as growing emphasis on road safety, favorable government policies to develop infrastructure for autonomous vehicles, and increasing road congestion.
North America dominated the autonomous vehicle simulation solutions market in 2021 and is anticipated to uphold its dominance throughout the forecast period 2022-2031. The autonomous vehicle industry in North America is majorly driven by the growing demand for advanced safety features such as adaptive cruise control, traffic jam assist, and autopilot. Additionally, the increasing number of high-end passenger cars is expected to boost the market growth, as North America is home to numerous leading high-end passenger car manufacturers providing vehicles that are equipped with level 1 and level 2 of autonomy.
Market Segmentation
- Product – Software and Services
- Deployment – On-Premises and Cloud
- Application Type – Automotive OEMs and Autonomous Driving Technology Development Companies, Tier-1 and Tier-2 Component Manufacturers, University and Research Center, Technology Companies, and Regulatory Bodies
- Level of Autonomy – Level 2, Level 3, Level 4 and 5
Regional Segmentation
- China
- North America – U.S., Canada, and Mexico
- South America
- Europe – Germany, France, Spain, and Rest-of-Europe
- U.K.
- Middle East and Africa
- Asia-Pacific and Japan – Japan, South Korea, and Rest-of-Asia-Pacific and Japan
Market Dynamics
Growth Drivers
- Need for Virtual Testing of Autonomous Vehicles
- Increasing Government Initiatives Toward Connected and Autonomous Infrastructure
- Increasing Demand for Reliable Transportation System for Road Safety
- Reduction in Research, Development, Production, and Training Costs
- Growing Interest Toward Cloud-Based Solutions
Challenges
- Safety and Reliability Issues with Autonomous Vehicles
- Rise in Cyber Threat Due to Increase in Data
- Complexity in Integration of New Software Solution With the Existing System
Opportunities
- Paradigm Shift from Private Car Ownership to Shared Mobility
- Increasing Focus on Vehicle Platooning
- Use of Simulation in Fourth Industrial Revolution
How This Report Can Add Value
This extensive report can help with:
- A dedicated section focusing on the futuristic trends adopted by the key players operating in the global autonomous vehicle simulation solutions market
- Extensive competitive benchmarking of top 15 players offering a holistic view of the global autonomous vehicle simulation solutions market landscape
- Qualitative and quantitative analysis of autonomous vehicle simulation solutions market at the region and country-level and granularity based on application and product segments
Key Questions Answered in the Report
- What are the underlying structures resulting in the emerging trends within the autonomous vehicle simulation solutions market?
- How is the autonomous vehicle simulation solutions market impacted by the introduction of autonomous and connected vehicles?
- How are emerging technologies such as artificial intelligence (AI), 5G communication, and the Internet of Things (IoT) driving the growth of the autonomous vehicle simulation solutions market?
- Which are the major patents filled in the autonomous vehicle simulation solutions space?
- What is the role of governments in various regions regarding the environmental issues and regulatory measures that contribute toward changing the landscape of the Autonomous Vehicle Simulation Solutions market?
- What are the key developmental strategies implemented by the prominent players to sustain the competitive market?
- What has been the impact of COVID-19 on the Autonomous Vehicle Simulation Solutions market?
Companies Mentioned
- Altair Engineering, Inc.
- Ansys, Inc.
- Applied Intuition, Inc.
- Autodesk Inc.
- AVL List GmbH
- Cognata
- Dassault Systemes
- dSPACE GmbH
- Foretellix
- VIRES Simulationstechnologie GmbH
- LG Electronics
- Nvidia Corporation
- rFpro
- The MathWorks, Inc.
- SAP SE
- aiMotive
For more information about this report visit https://www.researchandmarkets.com/r/7kzwqk