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.
For full research report on Virtual
Prototype (VP) Market visit here: 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.
Get free request sample of this report
here: https://www.grandviewresearch.com/industry-analysis/virtual-prototype-market/request/rs1
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
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Spain
- Italy
- Asia Pacific
- India
- China
- Japan
- South Korea
- RoW
- Brazil
- MEA
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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