Virtual Prototype Market Size, Share, Opportunities, And Trends By Tool (Finite Element Analysis, Computational Fluid Dynamics, Computer-Aided Manufacturing, Computer-Aided Design, Computer Automated Design), By Deployment Model (On-Premise, Cloud), By Industry Vertical (Healthcare, Automotive, Consumer Electronics, Aerospace And Defense, Telecommunications, Others), And By Geography - Forecasts From 2025 To 2030

The virtual prototype market is projected to grow at a CAGR of 16.63% during the forecast period.

Introduction.

Virtual prototyping, also known as digital prototyping, makes use of engineering simulation software in order to model and visualize a system before actually creating a physical prototype. The rising adoption of consumer electronics is prompting manufacturers to make use of advanced technologies like virtual prototyping to meet the rising demand. Also, as the competition in the manufacturing sector has been increasing, more and more manufacturers have been using virtual prototyping for increased efficiency, which is anticipated to supplement the growth of the virtual prototype market during the assessment period. The rising demand from the healthcare sector is also one of the driving factors for market growth.

Growing competition in the manufacturing sector.

The manufacturing sector has been growing at a steady pace, especially in the developing countries, and the growing competition among the manufacturers is prompting them to increasingly make use of new technologies such as virtual prototyping and hence is anticipated to lead to the growth of the virtual market growth during the forecast period. According to data from the World Bank, the value-added in the manufacturing sector has increased from US$10.534 trillion in 2010 to US$13.740 trillion in 2019.

Impact Of COVID-19 on the Virtual Prototype Market

The COVID-19 pandemic led to the shutting down of the manufacturing facilities as it was implemented by various countries to curb the spread of the coronavirus. This resulted in a decrease in the demand for virtual prototyping. The operations of the end-use industries such as automotive, consumer electronics, aerospace, and defense, among others were severely impacted which led to a decline in the market growth.

Competitive Insights.

Major market players like Imperas Software Ltd, ARM Limited, and Arteris, among others have been covered in the virtual prototype market report. The players in the virtual prototype market are implementing various growth strategies to gain a competitive advantage over its competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the virtual prototype market.

Segmentation:

• By Tool
  • Finite Element Analysis (FEA)
  • Computational Fluid Dynamics (CFD)
  • Computer Aided Manufacturing (CAM)
  • Computer Aided Design (CAD)
  • Computer Automated Design (CAutoD)
• By Deployment Model
  • On-premise
  • Cloud
• By Industry Vertical
  • Healthcare
  • Automotive
  • Consumer Electronics
  • Aerospace and Defence
  • Telecommunications
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • Italy
    • Spain
    • Others
  • Middle East and Africa
    • Israel
    • Saudi Arabia
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others