ANSYS
ANSS
software was
recently
leveraged by France-based EasyMile to demonstrate the safety of their driverless vehicles. EasyMile specializes in offering software and end-to-end solutions for driverless vehicles.
EasyMile used ANSYS software to test functional safety analysis of infrastructure and related architecture for its driverless shuttle and tow tractor solutions. ANSYS software also led to a significant reduction in time for product development by shortening development cycles resulting in considerable cost savings and improved time to market for EasyMile, added ANSYS.
ANSYS further noted that EasyMile developed a single turnkey solution to assess their advanced autonomous vehicle or AV system architecture by deploying ANSYS software.
ANSYS software also aided EasyMile in setting up procedures for safety analysis along with the templates and documentation required to establish the safety of AV solutions for both clients and regulatory authorities, added the company.
Increasing Buzz Around AVs Bodes Well
According to Grand View Research data
, the simulation software market is projected to reach $33.9 billion by 2028 at a CAGR of 17.1% between 2021 and 2028, with the automotive segment being the largest end-user.
The growing demand for simulation software in the automotive vertical can be attributed to the transition to electric and autonomous vehicles, added the report.
Per a report available on ResearchAndMarkets
, the worldwide autonomous vehicles market is expected to witness a CAGR of 28% between 2021 and 2026.
ANSYS holds a dominant position in the high-end design simulation software space. The company offers simulation solutions for developing next-generation 5G product designs, autonomous vehicles, thinner and more reliable mobile and Internet of Things (“IoT”) products as well as high-performance chips for advanced driver assistance systems (ADAS).
A couple of days back, ANSYS
announced
that Innoviz Technologies is utilizing the company’s simulation software solutions to advance work on automotive-grade LiDAR sensors. Israel-based Innoviz specializes in manufacturing LiDAR sensors for the development of autonomous vehicles. Some of the company’s most notable product offerings include InnovizOne, InnovizTwo and Perception Software.
ANSYS’ simulation software portfolio is likely to help the manufacturers of autonomous vehicles to test their designs and boost road safety, while containing costs.
Zacks Rank and Stocks to Consider
At present, ANSYS carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector include
Salesforce
CRM
,
Hewlett Packard
HPE
and
Microsoft
MSFT
. While Salesforce and Hewlett Packard sport a Zacks Rank #1 (Strong Buy), Microsoft carries a Zacks Rank #2 (Buy). You can see
the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Salesforce’s fiscal 2022 earnings is pegged at $4.68 per share, up 6.4% in the past 60 days. The long-term earnings growth rate of the company is pegged at 16.8%.
Salesforce’s earnings beat the Zacks Consensus Estimate in all of the preceding four quarters, the average surprise being 44.2%. Shares of the company have increased 4.4% in the past year.
The Zacks Consensus Estimate for Hewlett Packard’s fiscal 2022 earnings is pegged at $2.03 per share, unchanged in the past 60 days. The long-term earnings growth rate of the company is pegged at 5.8%.
Hewlett Packard’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 14.4%. Shares of the company have rallied 41.1% in the past year.
The Zacks Consensus Estimate for Microsoft’s fiscal 2022 earnings is pegged at $9.13 per share. The long-term earnings growth rate of the company is pegged at 12%.
Microsoft’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 14.8%. Shares of the company have surged 44.9% in the past year.
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