Today’s product development environment is frequently characterised by compressed schedules and budget cuts, but an engineer must expertly navigate these obstacles in order to achieve his ultimate goal – product release. Virtual Prototype Market is a revolutionary method that aids the product development process. A virtual prototype is a digital simulation of a physical product that can be used to see how it behaves in real-world conditions. Virtual prototyping is the process of creating and testing a virtual prototype. A typical virtual prototyping solution entails the development of a 3D solid model, a human-product interaction model, and various test-related models for structural analysis, motion analysis, and manufacturing evaluations. The process involves the use of various advanced softwares such as computer-aided design (CAD), computer-aided engineering (CAE), and so on.
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The prime advantage of virtual prototyping is a significant reduction in “time-to-market”. The process of creating a novel product involved numerous prototype builds, testing and the investment of months to years. However with the current availability of multi-physics modeling softwares for virtual prototyping, the time and investment is considerably reduced.
Secondly, building and testing on a physical prototype can miss some problems that may not materialize in test chambers, as manufactured. Whereas, in virtual prototyping such corner errors can be pointed out and hence improving on design quality. Thirdly, as it creates prototypes pretty quickly, the method empowers the user to test with multiple complex designs and helps in developing a more competitive product within a limited time frame.
Owing to these lucrative advantages the global virtual prototype market is anticipated to witness a healthy CAGR during the forecast period.
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Global Virtual Prototype Market: Drivers and Restraints
Growing competitiveness among all players of manufacturing industry, urges the use of virtual prototyping in their product development, as it helps businesses minimize time and cost while maximizing on quality and efficiency. Parallely the 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. On the other hand, small player might restrain from virtual prototype solutions at this point of time due to high initial investment and lack of skilled professionals.
Global Virtual Prototype Market: Regional Outlook
Geographically, the global virtual prototype marketcan be divided into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA). Currently, North America and Europe owns the majority share in the virtual prototype solutions market, owing to high technology adoption in their local manufacturing sector. The APEJ nations particularly China and India, are anticipated to show a significant growth in their automobile and aerospace sectors in the forecast period, concurrently increasing their share in the global market for virtual prototypes.
Global Virtual Prototype Market: Key Players
AutoDesk, ARM, Imperas, Coverity, Carbon Design Systems, Synopsys, Qualcomm, Nvidia, Mentor Graphics, MediaTek, ASTC, Imagination Technologies, Cadence, ESI Group, Agilent Technologies etc.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, and applications.
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- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis include
- North America (U.S., Canada)
- Latin America (Brazil, Rest Of Latin America)
- Western Europe (Germany, Italy, France, U.K, Spain, Rest Of Western Europe)
- Eastern Europe (Poland, Russia, Rest Of Eastern Europe)
- Asia Pacific excluding Japan (China, India, ASEAN, Australia & New Zealand)
- Japan
- TheMiddle East and Africa (GCC countries, S. Africa, Rest Of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies
On the basis of type of Virtual Prototyping tool:
- Finite Element Analysis (FEA)
- Computational Fluid Dynamic (CFD)
- Computer Aided Machining (CAM)
On the basis of deployment type:
- Cloud/Host
- On-Premises
On the basis of end user industry:
- Automotive
- Aerospace
- Petroleum
- Chemical
- Government or Military
- Healthcare
- Telecommunications
- Electronics
- Government or Military
- Entertainment
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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