Virtual Prototype Market Report

Virtual Prototype Market Analysis By Tools [Finite Element Analysis (FEA), Computational Fluid Dynamic (CFD), Computer Aided Machining (CAM)], By Deployment Type (Cloud/Host and On-Premises), By End User Industry (Automotive, Aerospace, Petroleum, Chemical), 2014 To 2025

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  • Report ID: GVR4337
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Virtual prototyping (VP), sometimes referred to as digital prototyping, or virtual modelling, that has been stimulated by interest in stimulus and computer modelling techniques. The junction of technologies such as simulation, computer aided design (CAD) and virtual reality (VR) have enabled the development of accessible, low cost, user-friendly VP systems. These VP tools are increasingly being viewed as the next generation of computerized design systems. VP is increasingly used as a substitute for rapid prototyping. VP does not produce a physical object for testing and evaluation but, as its name suggests, carries out these tasks within a computer.

Virtual Prototyping is becoming increasingly popular due to the following key reasons: 1) Increasing system complexity involving both hardware and software, 2) Shorter schedules for hardware and software co-verification in which traditional cycle-accurate system approach does not scale up, and 3) Increasing risk in terms of development costs and time-to-market.

Growing competitiveness among all players of manufacturing industry needs the use of virtual prototyping in their product development, as it helps businesses minimize time and cost while maximizing on quality and competence. Whereas, small player might restrain from virtual prototype solutions at this point of time due to high initial investment and lack of skilled professionals.

The global virtual prototype market is segmented on the basis of type of virtual prototyping tool, deployment type, end user industry, and region. On the basis of type of virtual prototyping tool, the global market is classified into Finite Element Analysis (FEA), Computational Fluid Dynamic (CFD), and Computer Aided Machining (CAM).

FEA is a simulation technique for evaluating structural performance. FEA has become the default tool for virtual testing and prototyping in almost every engineering discipline. FEA is the fastest and most cost-effective way to reduce time-to-market while improving quality and reliability. CFD has been widely utilized for conducting virtual experiments, prototype testing and parametric studies.Computational fluid dynamics gives insight and provides detailed predictions of operating conditions in lieu of difficult, intrusive, and often expensive experimental methods.

CAM means integration of real processes into the virtual environment. Engineering is more than analysis and design. A methodology for storage and rapid access to engineering analyses, plant data, geometry, and all other qualitative and quantitative engineering data related to plant operation still needs to be developed.

On the basis of deployment type, the global market is classified into Cloud/Host and On-Premises. On the basis of end user industry, the global market is classified into Automotive, Aerospace, Petroleum, Chemical, Government or Military, Healthcare, Telecommunications, Electronics, Government or Military, Entertainment.

Continuous growth in aerospace and automotive industry, is driving the need for new product development which in turn also fuels the market for virtual prototype. Automotive and aerospace segment account for the majority market share and is expected to grow at highest CAGR during the forecast period by 2025.

Geographically, the global market is segmented into North America: U.S., Canada, Latin America: Mexico, Brazil, Western Europe: Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX, Eastern Europe: Russia, Poland, Rest of Eastern Europe, Asia Pacific Excluding Japan: China, India, ASEAN, Australia & New Zealand, Japan, Middle East and Africa: GCC, S. Africa, N. Africa, Rest of MEA.

North America and Europe possesses the majority share in the virtual prototype solutions market, due to high technology acceptance in their local manufacturing sector. The APEJ nations mainly China and India are expected to show important growth in their automobile and aerospace sectors in the forecast period, simultaneously increasing their share in the global market for virtual prototypes. The key players of the global market are Autodesk, ARM, Imperas, Coverity, Carbon Design Systems, Synopsys, Qualcomm, Nvidia, Mentor Graphics, MediaTek, ASTC, Imagination Technologies, Cadence, ESI Group, Agilent Technologies

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