According to a new market research report “Simulation Software Market by Component (Software (FEA, CFD), Services), Deployment (Cloud, On-premises), Application (Product Engineering, R&D, and Gamification), Vertical (Automobile, Healthcare and Pharmaceuticals), and Region – Global Forecast to 2026″ published by MarketsandMarkets™, the Simulation Software market size expected to grow from USD 12.7 billion in 2020 to USD 26.9 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 13.2% during the forecast period.
Browse in-depth TOC on “Simulation Software Market”
300- Tables
43- Figures
288- Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=263646018
The major factors fueling the simulation software market include increasing demand for effective solution to reduce production expenses and training costs and increasing capabilities of simulation with regards to advanced technologies such as digital twins, AR/VR, and 3D printing. Further, increasing investment in industry such as aerospace and defense, and requirement of simulation in healthcare to develop and produce effective vaccines for diseases like COVID-19 is expected to be fuel the market growth in coming years.
By application, product engineering segment to have the highest market share during the forecast period
Product engineering refers to the process of designing, developing, testing, and producing or deploying a software product. Here, simulation plays a crucial role in every phase of engineering and has been used by product teams for a decade. The product team uses the simulation software to analyze, predict, and validate models in the real-time environment, just before final physical prototyping. Product engineering is the major application area of simulation and thus the majority of the vendor’s offerings are focused on the engineering application.
By Vertical, Automotive segment to have the highest market share during the forecast period
The utilization of simulation and analysis technology in the automobile industry is increased to test and analyze the designs of products in the virtual environment. The ongoing development of connected vehicles and Advanced Driver Assistance Systems (ADAS) has increased the demand for advanced hardware and software solutions. Companies such as Ford, Tesla, and Volkswagen are investing hugely in developing smart technologies for electric vehicles and ADAS. Every industrial product, before moving to the final production stage, must go for simulation testing, where the design and prototypes have been checked in the real-time environment.
Asia Pacific to grow with the fastest growing CAGR during the forecast period
APAC is expected to witness extensive growth opportunities in the manufacturing and IT sectors during the forecast period. The increase in the use of simulation solutions in airport authorities in recent years is having a major impact on the simulation software market. Training schools are ordering new and advanced full-flight simulators to increase their training capacities, which is also leading to the growth of the simulation software market. The growing concern on the use of digital twin simulations and the use of simulation technology for IoT support devices is leading to the growth of the market.
Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=263646018
Major vendors in the global Simulation Software market include MathWorks (US), Autodesk (US), Ansys (US), Siemens AG (Germany), PTC (US), Dassault Systemes (France), Altair Engineering (US), MSC Software (US), Honeywell (US), Keysight Technologies (US), Aveva (UK), Spirent Communications (UK), Bentley Systems (US), Synopsys (Canada), AVL List GmbH (Austria), COMSOL (England), Certara (US), CAE (Presagis (Canada)), aPriori (US), PTV Group (Germany), AnyLogic (US), SimScale (Germany), Scalable Networks (US), Simul8 Corporation (UK), FlexSim (US), MOSIMTEC (US), Simio (US), ProSim (US), Cybernet (US), and Cesim (Finland).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/simulation-software-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/simulation-software.asp
