San Francisco, 26 April , 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 Full Research
Report On Virtual Prototype (VP) Market Analysis:
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
o
U.S.
o
Canada
o
Mexico
·
Europe
o
U.K.
o
Germany
o
France
o
Spain
o
Italy
·
Asia Pacific
o
India
o
China
o
Japan
o
South Korea
·
RoW
o
Brazil
o
MEA
Access Full Press Release of this Report: https://www.grandviewresearch.com/press-release/global-smart-packaging-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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