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Global Model Based Development (MBD) Grows Fast with CAGR of 15.87%

Author: QYResearch  |   Published Date: 2022-05-11   |   Views: 48



Model based development (MBD) is a software development methodology based on V-cycle. The model based approach enables a developer to simulate the models for the complex control processes. These software models can be tested to assess the performance in real-time.

 

Model-based development is a design and development method that models, simulates, and then verifies controls and controlled objects that make up systems. Through model-based development, verification can be done during the design process, which reduces rework in the verification process, thereby significantly reducing development hours and improving quality. Model-based development methods are used not only in the design process but also in the verification process. By modeling the verification environment, various types of verification can be performed.

 

Currently, model-based development is being used in a variety of products. It has been implemented mainly in the development of in-vehicle systems but is also being used in a wide range of other fields such as medical equipment and robotics. It is expected to be introduced in a variety of fields in the future.

 

The Model Based Development (MBD) market concentration is high. Siemens, IBM, PTC, ETAS, MathWorks and dSPACE are some of the leading players in Global Model Based Development (MBD) market. In 2020, the top six players took 56.90% market share in terms of revenue.

 

Model Based Development (MBD) is mainly used in Automotive, Electronics and Semiconductor, Aerospace and Defence, Medical, Industrial, etc. Automotive are the most widely used group which took up about 25.02% of the global market in 2021. Automobile manufacturers across the globe are increasingly adopting model-based design in the development of vehicle electronics, ranging from the engine and transmission controllers to the body controllers and battery management modules.

 

Global Model Based Development (MBD) market size was 2,419.89 million USD in 2021 and it is estimated to reach 6,163.13 million USD by the end of 2028, with a CAGR of 15.87% from 2022 to 2028.

 

 

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