Global Electric Vehicle Virtual Prototyping Market to Reach $5,613.2 Million by 2030

In recent years, virtual prototyping has evolved as a computer-based simulation of systems with realism and accuracy to improve the design and, in some cases, to replace the physical prototype to save time and money. One of the primary objectives of automobile manufacturers is to enhance the design process and obtain a more realistic model before producing a prototype, which is expensive and often must be made multiple times before the design is complete. The usage of a virtual prototype is one solution to the problem. The focus is on enhancing suspension systems and introducing advanced active suspension systems, as one of the key objectives for upgrading design is to increase handling and comfort.

The global electric vehicle virtual prototyping market is expected to reach $5,613.2 million by 2030, with a CAGR of 33.83% during the forecast period 2021-2030.Factors driving the growth of the electric vehicle virtual prototyping market are the need for rapid product testing and enhancing ergonomics and usability, increasing accuracy in virtual prototyping, and the need for the discovery of design and software problems.

Market Segmentation

• Application Type: ECU, Electronic Systems, Sensor, Battery Systems, Charging Systems, ADAS and Autonomous System, Motor and Motor Controller, Others
• Product Type: Designing, Simulation, Validation
• Deployment Type: On-Premises, Cloud

Regional Segmentation

• North America: U.S., Canada, and Mexico
• Europe: Germany, France, and Rest-of-Europe
• U.K.
• China
• Asia-Pacific and Japan: Japan, South Korea, India, and Rest-of-Asia-Pacific
• Rest-of-the-World

Market Growth Drivers

• Need for Rapid Product Testing and Enhancing Ergonomics and Usability
• Increasing Accuracy in Virtual Prototyping
• Need for Discovery of Design and Software Problems

Market Challenges

• High Cost of Virtual Prototyping

Market Opportunities

• Scope of Innovative Prototyping Technologies
• Growing Market for Electric Vehicle

Key Companies Profiled

Synopsys, Altair Engineering, Inc., Claytex Services Ltd, dSPACE GmbH, Elektrobit Automotive GmbH, EOMYS Engineering, ESI Group, Siemens, Waterloo Maple Inc., Autodesk Inc., Cadence Design Systems, Inc., ANSYS Inc., PTC Inc, Arm Ltd, Dassault Systèmes SE

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 electric vehicle virtual prototyping market
• Extensive competitive benchmarking of top 15 players offering a holistic view of the global electric vehicle virtual prototyping market landscape
• Qualitative and quantitative analysis of electric vehicle virtual prototyping market at the region and country-level and granularity by application and product segments

Product/Innovation Strategy: The product segment helps the readers in understanding the different types of electric vehicle virtual prototyping used in vehicles. Also, the study provides the readers with a detailed understanding of the electric vehicle virtual prototyping market by application and product.

Key Questions Answered in the Report:

• -What are the key drivers and challenges in the global electric vehicle virtual prototyping?
• -How does the supply chain function in the global electric vehicle virtual prototyping?
• -Which vehicle type segment is expected to witness the maximum demand growth in the global electric vehicle virtual prototyping during 2021-2030?
• -What are the key application areas for different product types that may experience high demand during the forecast period, 2021-2030?
• -Who are the key suppliers of different electric vehicle virtual prototyping?
• -What are the key offerings of the prominent service providers in the global market for electric vehicle virtual prototyping?
• -Which regions and countries are leading in terms of consumption of global electric vehicle virtual prototyping, and which of them are expected to witness high demand growth from 2021 to 2030?
• -What are the key consumer attributes in various regions for electric vehicle virtual prototyping?

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North America is currently the most advanced and competitive automotive market in terms of electric vehicle production and distribution. The presence of automotive giants such as Ford, Tesla, GM, and Fiat Chrysler are responsible for the cruising production of electric vehicles in the region. Companies created a forum where they could discuss, learn, and share with experts from all over the region as manufacturers increasingly focus on the exponential power of information and communication technologies (ICT) with its associated high-performance computing (HPC), machine learning, and Internet of Things (IoT).

Key Market Players and Competition Synopsis

Synopsys, Altair Engineering, Inc., Claytex Services Ltd, dSPACE GmbH, Elektrobit Automotive GmbH, EOMYS Engineering, ESI Group, Siemens, Waterloo Maple Inc., Autodesk Inc., Cadence Design Systems, Inc., ANSYS Inc., PTC Inc, Arm Ltd, Dassault Systèmes SE

The companies profiled in the report have been selected post undergoing in-depth interviews with experts and understanding details around companies such as product portfolios, annual revenues, market penetration, research and development initiatives, and domestic and international presence in the electric vehicle virtual prototyping market.

BIS Research provides premium market intelligence on deep technologies that have the potential to cause a high-level of disruption in the market in the next few years. BIS Research excels in conducting market viability analysis for technologies that