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Global Motion Simulation Market Will Grow Significantly with High R&D Investment by Automobile Manufacturers Until 2020, Reports TechnavioAccording to the latest market study released by Technavio, the global motion simulation market is expected to post an impressive CAGR of about 11% by 2020. This research report titled 'Global Motion Simulation Market 2016-2020' provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market. To calculate the market size, Technavio analysts consider revenue generated from sales and aftermarket services of motion simulation software. The global motion simulation market in the electrical and electronics industry is expected to have the highest CAGR of 13.42% compared with other industries during the forecast period. This is due to the emergence of new technology products such as 3D printers, smart watches, ultra HD television displays, and health and fitness devices. These products together are predicted to witness a huge growth over the next couple of years. The growing demand for products with better quality, sophisticated designs, and shorter time to market is driving the OEMs to get their product right the first time, leading to increased investment in design and simulation analysis software. Request sample report: http://goo.gl/2u8Ioa Technavio's industrial automation analysts categorize the global motion simulation market into three major segments by end user. They are:
Global motion simulation market in automotive industry The global motion simulation market in the automotive industry generated revenues of USD 503.5 million in 2015 and is expected to reach USD 925.6 million by 2020, growing at a CAGR of about 13%. The automakers have witnessed multiple cars recalls in the last couple of years. Thus, companies are trying to get their design right at the first attempt with engineering analysis and multiphysics simulation. Hence, high R&D investment by the automobile manufacturers to develop new and innovative products in the market is the main driving force for the growth of the global motion simulation market in the automotive industry. Technavio research analysts forecast the global automotive industry to increase its R&D spending by 3% in 2016, accounting to USD 94.2 billion. According to Bharath Kanniappan, one of the lead automation research analysts from Technavio, "Higher growth rate of the market is anticipated in APAC as the domestic sales of passenger vehicles grew by 8.13% in 2015 and the domestic sales of commercial vehicles increased by 9.43%. This is because auto and auto OEMs are increasingly focusing on developing their R&D capability in India. Indication Instruments, the provider of electronic components for automotive, is planning to open an R&D center in India." Global motion simulation market in industrial machinery industry The global motion simulation market in the industrial machinery industry generated revenues of USD 328.9 million in 2015 and is predicted to reach USD 461.6 million by 2020, growing at a CAGR of around 7%. Factors, such as reduction in product development cost and time and faster machine production, have fueled the adoption of motion simulation in the global industrial machinery industry. Omni-Lite Industries, one of the leading developers of advanced composite materials and cold forming tools, has integrated MSC (News - Alert) Software's Simufact motion simulation software to design cold forming tools. With the adoption of this software, the company was able to reduce product design time and cost by eliminating costly and repetitive physical testing. "With the adoption of simulation and testing solutions, end-users can achieve faster time to market and profitability. The simulation and testing solutions require high-performance computing systems that can process a large volume of data. The lack of IT infrastructure and support staff among companies makes it difficult to manage such high-performance computing systems. This led to companies, such as IBM (News - Alert), to provide high-performance computing system and IBM Platform Computing on premise and cloud, which accelerated the adoption of motion simulation applications," says Bharath. Global motion simulation market in electrical and electronics industry The global motion simulation market in the electrical and electronics industries was one of the fastest growing segments in the market in 2015 with a market share of nearly 23% and is anticipated to post a staggering CAGR of 13.42 by 2020. The global electrical and electronics industry relies heavily on simulation-focused product development. The simulation process provides a safe environment for product testing and multitasking and reduced cost for development. The adoption of engineering simulation in the electrical and electronics industry helps engineers to solve complex problems that include reduction in power consumption, electronic signal quality check, and improvement of bandwidth. With changing consumer patterns, the demand for tablets and smartphones has increased significantly during the last five years. Smartphones and tablets providers are using new and innovative technology, hardware, and software to develop such products in the market. The smartphones and tablets providers adopt simulation software to analyze several parameters such as thermal management, IC performance, and electro-thermal-structural couplings analysis involved in developing the product. The top vendors highlighted by Technavio's research analysts in this report are: Browse Related Reports:
Do you need a report on a market in a specific geographical cluster or country but can't find what you're looking for? Don't worry, Technavio also takes client requests. Please contact [email protected] with your requirements and our analysts will be happy to create a customized report just for you. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected].
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