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Simulation Software Market Growth - Growth, Segments and Regional Trends

Mar 5th 2020 at 3:25 AM


The detailed report published by Market Research Future (MRFR) projects that the global simulation software market is marked to exhibit remarkable expansion at a CAGR of 16% during the forecast period of 2017-2023. Simulation software allows the user to predict, validate and optimize the products or processes by observing any operation through simulation without having to perform that operation. The benefits of simulation software such as provision of understanding all the features of any products and their functionality before creating them in order to eradicate errors and optimizing their functions are inducing high demand for simulation software in various end-use industries, leading to the expansion of the global simulation software market. Rapid development of 3D technology, increased reliance on digital designing of products and increasing demand for advanced simulation software are also fueling the growth of the global simulation software market during the review period.

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Global Simulation Software Market: Segmentation

The global simulation software market has been segmented on the basis of component, deployment, application and vertical. Based on component, the global simulation software market has been segmented into software and services. The services segment has been sub-segmented into design & consulting and support & maintenance. Based on deployment, the global simulation software market has been segmented into cloud and on-premise. Based on application, the global simulation software market has been segmented into eLearning, training and research & development and others. Based on vertical, the global simulation software market has been segmented into automobile, aerospace and defense, electrical and electronics, healthcare, industrial manufacturing, education & research, and others

Global Simulation Software Market: Regional Analysis

Geographically, the global simulation software market has been segmented into four major regions such as Asia Pacific (APAC), North America, Europe and the rest of the world. The North America region commands the maximum share of the global simulation software market owing to the increased adoption of technologically advanced solutions in various industrial sectors such as aerospace and defense, healthcare and others. Rapid industrialization, high demand for optimization of industrial manufacturing processes and rise in incorporation of simulation software with rapid development of 3D printing technology are also propelling the growth of the simulation software market in this region. Improvement in education and research fields, high demand for automation, and increased reliance on cloud-based solutions along with high adoption rate of technologically advanced solutions are fueling the growth of Simulation Software Market Growth in the Asia Pacific region.

Global Simulation Software Market: Industry Updates

In February 2019, ANSYS, a developer of engineering simulation software, has announced the launch of ANSYS Cloud which will allow the engineers to evaluate maximum design variations in less time and obtain high-fidelity simulation results with instant access to cloud high-performance computing (HPC).

In February 2019, Concentric, leading simulation software company, has announced the launch of a new version, 9.3, of its Concentric MarketĀ® simulation platform, which provides upgraded optimizer feature that allows the users to operate faster and easier.

In January 2019, Solvay, a leading specialty chemicals company, has announced that it has collaborated with e-Xtream engineering, a software and engineering services company, to expand the high-performance polymers for 3D printing simulation with the help of e-Xtream's simulation software.

Global Simulation Software Market: Key Players

The prime players profiled by Market Research Future (MRFR) that are operating in the global simulation software market are Altair Engineering (the U.S.), Bentley Systems (the U.S.), Ansys, Inc. (the U.S.), PTC (the U.S.), Siemens PLM Software (the U.S.), Autodesk, Inc. (the U.S.), and CPFD Software (the U.S.). Cybernet Systems Co. Ltd. (the U.S.), Dassault Systemes (France), Design Simulation Technologies, Inc. (the U.S.), Synopsys, Inc. (the U.S.), MathWorks, Inc. (the U.S.) and others.

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