Moreover, the US has taken an aggressive stance on testing self-driving vehicles as well as making their EVs more intelligent. The increasing number of connected vehicles and a growing awareness of green vehicles among people are expected to fuel the growth of the automotive simulation market in the North America region. The North America region is estimated to grow at the highest CAGR in the automotive simulation market during the forecast period.
North America is estimated to be the fastest growing region in the automotive simulation market during the forecast period. Thus, the increasing government regulations in various regions are driving the simulation market for regulatory bodies.
ANYLOGIC 6.4.1 SOFTWARE
Automotive simulation software will be helpful for the same. For this, the governing bodies need to understand the functioning of the vehicles properly. Thus, the old regulations need a lot of revision, and several new laws need to be created. The use of automotive simulation software by regulatory bodies will increase at the highest rate as the industry moves toward new priorities of manufacturing self-driving cars and environment-friendly vehicles. The regulatory bodies segment is estimated to be the fastest growing market, in terms of value, in the automotive simulation market. Various benefits over the on-premises segment such as pay-per-use model, flexibility, speed in accessibility, and low installation and maintenance cost are driving the growth of the automotive simulation market. The cloud segment of the automotive simulation market is projected to grow at the highest CAGR during the forecast period. Lack of benchmarks and standards in the simulation and analysis market and integration complexities can pose challenges for the automotive simulation market.Ĭloud segment to grow at a significant rate during the forecast period. However, complexities in real-time control can restrain the growth of the automotive simulation market. The technological advancements such as autonomous vehicles, truck-platooning, Vehicle-to-everything (V2X) are expected to create opportunities for the automotive simulation market in the coming years. The growing number of connected cars and electronic content per vehicle and reinforcement of mandates by regulatory bodies for vehicle safety and comfort are driving the automotive simulation market. The global automotive simulation market is projected to grow at a CAGR of 11.1% during the forecast period, from USD 1.4 billion in 2018 to USD 2.9 billion by 2025. Rapid technological changes as a result of an increase in the government regulations related to vehicle safety, and increasing focus on R&D activities to fuel the demand for the automotive simulation market The "Automotive Simulation Market by Deployment (On-premises, Cloud), Component (Software, Services), End Market (OEM, Automotive Component Manufacturers, Regulatory Bodies), and Region ( Asia Pacific, Europe, North America, RoW) - Global Forecast to 2025" report has been added to 's offering.
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