Categories: Auto

The global autonomous vehicle simulation solutions market is expected to reach $2,971.4 million by 2031, with a CAGR of 13.4%

MORAI Autonomous Driving Simulation

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

Research and Markets

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