The global simulation software market is projected to witness a rapid growth during the forecast period owing to increasing demand for simulation software solutions. Moreover, increasing demand for simulation software’s across various industry verticals, and rise in demand for product innovation, and improved quality of products are other major factors driving the growth of the global simulation software market.
Major factors driving the growth of Simulation Software Market is the growth of e-commerce industry and growing dependence of enterprises on web-based solutions and services. Also, the growing number of small and medium enterprise units is expected to drive the growth of global simulation software market. Increasing demand for eco-friendly work environment is one major factor driving the growth of global simulation software market. With the advent of industrial IoT, and the rise of digital twins in the industry 4.0, the growth of global simulation software market is anticipated.
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Altair Engineering, Bentley Systems, Ansys, Inc., PTC, Siemens PLM Software, Autodesk, Inc., CPFD Software, Cybernet Systems Co. Ltd. and Dassault Systemes are a few major players in the global simulation software market. Increasing adoption of simulation software solutions in industrial applications is boosting the market growth. This is owing to the increase in demand for innovation and products with improved quality. Also, increasing focus on research and development activities is further fuelling the market growth.
The North America region holds the largest share of the market across the globe followed by Europe, and Asia Pacific region. U.S. and Canada are dominating the North America market due to rising technological enhancements and growing adoption of simulation software solutions in the region. Moreover, the region has a well-established infrastructure, which allows faster implementation of advanced technologies. Additionally, the growing adoption of simulation software solutions across industry verticals such as healthcare and manufacturing is another major factor driving the growth of the simulation software market in the region.
Global simulation software market is expected to grow at 16% CAGR during the forecast period 2017-2023.
Simulation Software Market Key Players:
Some of the key players in the market are Altair Engineering (U.S.), Bentley Systems (U.S.), Ansys, Inc. (U.S.), PTC (U.S.), Siemens PLM Software (U.S.), Autodesk, Inc. (U.S.), and CPFD Software (U.S.). Cybernet Systems Co. Ltd. (U.S.), Dassault Systemes (France), Design Simulation Technologies, Inc. (U.S.), Synopsys, Inc. (U.S.), and MathWorks, Inc. (U.S.) are among others.
Simulation Software Market Segments
The global simulation software market is segmented by component, deployment, application and vertical. On the basis of component, the market is segmented into software and services. The services segment is further classified into design & consulting and support & maintenance. On the basis of deployment, the market is segmented into cloud and on premise. Based on the application, the market is segmented into eLearning, training and research & development and others. Whereas, based on vertical, the market is segmented into automobile, aerospace and defense, electrical and electronics, industrial manufacturing, healthcare, education & research and others
Simulation Software Market Regional Analysis
The global simulation software market is studied in Asia Pacific, North America, Europe, and Rest of the World. North America is estimated to account for the largest share of the market, whereas Asia Pacific is projected to grow at the fastest rate during the forecast period. The growth of the market in North America is attributed to technological advancements, and increased adoption of simulation software applications across small and medium enterprises.
- Technology Investors
- Research/Consultancy Firms
- Government Bodies
- Consulting Service Providers
- Technology Providers
- System Integrators
- Software Vendors
- Simulation and Analysis Vendors
- Application Developers
- System Integrators
- Application End Users
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Table of Contents
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
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