Key Drivers and Challenges in the Global Electric Vehicle Virtual Prototyping

The ADAS and autonomous system segment held the major share of $XX million in the global electric vehicle virtual prototyping market in 2020. As autonomous vehicle technology becomes more widely used on public roads, verifying and testing the systems’ safe operation becomes increasingly important. Each of these three difficulties must be examined to see how algorithms respond. By reducing prototype costs, enhancing accessibility, and increasing virtual integration steps, adding a virtual development layer can help prepare safe systems for launch. Virtual Test Drive (VTD), a product by MSC (Hexagon), overcomes challenges by allowing engineers to test code and stack adjustments almost instantly, quickly record and access data, and perform a variety of scenarios.

Report Overview:

Based on deployment, the global electric vehicle virtual prototyping market has been categorized into on-premises and cloud. Several large enterprises have moved or shown intent to move toward a on-premises -based infrastructure. In competitive and regulated marketplaces, engineering teams produce high-tech equipment for demanding users. As a result, they must incorporate high-performance technology into ever-smaller yet durable enclosures, accessories, and packages. Under time pressure, this frequently results in difficult trade-offs.

The market is dominated by North America. A large number of companies in the manufacturing and industrial sectors coupled with high R&D budget, high adoption of technologies in design and development of products, significant government investment in public sectors, increasing adoption of virtual prototyping in electric vehicles are the major factors responsible for the growth of electric vehicle virtual prototyping in the region.

Some of the key players in the market are Synopsys, PTC Inc., Arm Ltd, ESI Group, and Siemens. These market players in the global electric vehicle virtual prototyping market are coming up with different product launches in order to match the competitors’ product portfolios. Product launch is becoming one of the most important strategies among the market players for gaining a competitive advantage in this growing industry.

In the recent past, partnership and new product launches have been the major activities in this industry. The growth in demand for cloud-based electric vehicle virtual prototyping has made its providers focus on differentiated and customized products.

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Most of the active suspension research has been based on physical principles, with a control algorithm applied to a quarter car model using simulation software. Using techniques known as hardware on the loop is another way to evaluate active suspension. Any upgrades or improvements necessitate replacing the hardware, which can be quite costly. A thorough investigation can be carried out by obtaining a virtual prototype. Having a virtual prototype of a complete car model makes it easy to experiment with different scenarios, swiftly animate the vehicle’s behavior and plot the dynamic outcomes.

Increasing demand for effective solutions to reduce production and training costs and increasing capabilities of electric vehicle virtual prototyping toward advanced technologies such as AR/VR, digital twins, and 3D printing are fueling the growth of the global electric vehicle virtual prototyping market.

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