San Francisco 24 April 2019 Virtual Prototype (VP) Market Size, Share & Trends Analysis Report By Tool
(CAD, CAE, CAM, CFD, FEA), By Deployment (Cloud-based, On Premise), By
Vertical, By Region, and Segment Forecasts, 2018 - 2025
The global virtual prototype market size is estimated to reach USD 861.7 million by 2025,
according to a new study by Grand View Research, Inc. It is expected to expand at
a CAGR of 19.4% over the forecast period. Virtual prototyping tools enable
faster product development, cost savings, and reduction in time to market.
These benefits are driving the development
and adoption of VP tools. Enterprises/industrial manufacturers are switching to
VP from conventional physical testing of product models. Physical testing
consumed additional time and incurred high costs in the event of failure.
Virtual prototype solutions enable organizations to significantly improve the
accuracy of product testing and to enhance ergonomics and usability. This
factor is driving growth of the global virtual prototype market.
Furthermore, increasing adoption of
consumer electronic products such as smartphones, tablets, printers, and home
appliances is encouraging manufacturers to deploy virtual prototyping tools to
meet the overall production demand. It is also encouraging them to introduce
innovative products to compete with other market players and to enhance
profitability. All these factors are anticipated to further propel expansion of
the global market over the forecast period.
Virtual prototyping is a software-based
engineering process that helps build, simulate, and test a prototype virtually
by simulating real-world conditions. The integration of technologies such as
Computer-Aided Design (CAD), simulation tools, and Virtual Reality (VR) into VP
tools has enabled manufacturers to increase product affordability. Moreover,
virtual prototype simulation also aids in efficient planning of production lines
and factory layouts.
Virtual prototyping solutions have a
significant demand from the healthcare sector where they are used for
pre-operative planning and surgical simulation. The growth of construction
industry is also anticipated to drive the market for virtual prototype over the
forecast period owing to rising demand for design simulation of buildings and
plants. Asia Pacific has the largest concentration of consumer electronics
manufacturers. Evolving consumer trends encourage manufacturers to innovate and
develop novel products, which is anticipated to spur the market growth.
Moreover, high investments in R&D to develop innovative virtual prototype
tools such as CAD tools for live simulation, error-free production, and cost
reduction during manufacturing are expected to further propel the global
virtual prototype market growth.
Access Research Report of Virtual
Prototype Market @ https://www.grandviewresearch.com/industry-analysis/virtual-prototype-market
Further key findings from the study suggest:
· North America held the largest market share
in 2017, owing to high adoption from automotive, electronics, and telecom
industries to enhance overall operational efficiency and to improve customer
satisfaction through iterative product releases
· Asia Pacific is expected to witness robust
growth in the global virtual prototype market owing to rapid growth of regional
automotive, aviation, and consumer electronics industries
· Adoption of cloud-based virtual prototype tools
is projected to witness growth over the forecast period due to high demand from
small- and medium-scale companies aiming to curb implementation and
infrastructure costs
· Key automobile manufacturers such as BMW,
Mercedes, and Volkswagen among others utilize VP tools to design and test new
vehicle models. Emergence of advanced vehicular technologies and growing
adoption of Electric Vehicles (EV) are anticipated to further promote market
growth
· Some of the key market players are
Autodesk, Inc.; TWI Ltd.; Synopsys, Inc.; ESI Group; Carbon Design Systems
Inc.; Cadence Design Systems, Inc.; Siemens PLM Software; and PTC.
Browse more reports of this category by Grand View
Research at: https://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has
segmented the global Virtual Prototype (VP) market on the basis of tool,
deployment, vertical, and region:
Virtual Prototype Tool Outlook (Revenue,
USD Million, 2015 - 2025)
·
Computer-aided Design (CAD)
·
Computer-aided Engineering (CAE)
·
Computer-aided Manufacturing (CAM)
·
Computational Fluid Dynamic (CFD)
·
Finite Element Analysis (FEA)
Virtual Prototype Deployment Outlook
(Revenue, USD Million, 2015 - 2025)
·
Cloud-based
·
On-premise
Virtual Prototype Vertical Outlook
(Revenue, USD Million, 2015 - 2025)
·
Aerospace
·
Automotive
·
Healthcare
·
Consumer Electronics
·
Telecom
·
Others
Virtual Prototype Regional Outlook
(Revenue, USD Million, 2015 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
RoW
Access Press Release of
Virtual
Prototype Market@ https://www.grandviewresearch.com/press-release/global-virtual-prototype-vp-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business decisions,
we offer market intelligence studies ensuring relevant and fact-based research
across a range of industries, from technology to chemicals, materials and
healthcare.
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