Global Simulation Software Market By Component (Software, Services), Application (E-Learning and Training, Research and Development), Deployment Type (Cloud, On- Premises), Vertical (Automotive, Aerospace & Defence, Electrical & Electronics, Industrial Manufacturing, Healthcare, Education & Research, Other), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Simulation Software Market
Global simulation software market is set to witness a healthy CAGR of 14.73% in the forecast period of 2019- 2026. The report contains data of the base 2018 and historic year 2017. Rising demand of simulation software from automobile & healthcare industry and increasing need to manage and analyse data are the factor for the market growth.
Market Definition: Global Simulation Software Market
Simulation software is a tool that allows companies to create a fake system without actually performing it so they can observe an event. They have the ability to validate, optimise, and predict the products by using the actual analysis. They are very useful as they helps the user to tackle the real world problems efficiently by allowing the same or modified process to be evaluated, monitored and analysed with different inputs. They are widely used in different industries such as aerospace & defence, electrical & electronics, healthcare, industrial manufacturing, and education & research.
- Rising demand for real- time training will accelerate the market growth
- Growing popularity of eco-friendly work environment is another factor boosting the market growth
- Rising R&D investment will also uplift the market growth
- Increasing number of SME units; this factor will contribute towards the demand of the market
- Complexity associated with the operations will hamper the market growth
- Lack of skilled and trained professional is another factor restricting the market growth in the forecast period
Segmentation: Global Simulation Software Market
- Finite Element Analysis
- Computational Fluid Dynamics
- Electromagnetic Waves
- Design and Consulting
- Support and Maintenance
- E-Learning and Training
- Research and Development
By Deployment Type
- On- Premises
- Aerospace & Defence
- Electrical & Electronics
- Industrial Manufacturing
- Education & Research
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In October 2018, Bentley Systems announced the acquisition of LEGION. The purchase improves Bentley's robust modeling framework to investigate and test comparative models of pedestrian traffic situations with collaborative online workflows. By using LEGION modeling software in combination with Bentley's OpenBuildings Designer will provide the developers, engineers and owners an alternative designs for pedestrian traffic. This acquisition will strengthen the market position of the company and will help them to provide better services to their customer
- In September 2017, Siemens Industry Software Inc announced the acquisition of TASS International which will help the company to solidify their product lifecycle management business. Siemens expects TASS simulation software to be included in its portfolio which will help them to deliver the kind of products required in today's fast-changing automotive industry. This acquisition will provide opportunity to the company so they can cater better products to their customer
Global simulation software market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of simulation software market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Major Market Competitors/Players
Few of the major competitors currently working in the global simulation software market are Altair Engineering, Inc.; Bentley Systems; ANSYS, Inc; PTC; Siemens Industry Software Inc.; Autodesk Inc; CPFD Software LLC.; Cybernet Systems Corp.; Dassault Systèmes; Design Simulation Technologies, Inc.; Synopsys, Inc.; The MathWorks, Inc.; GSE Systems; Simulations Plus; ESI Group; The AnyLogic Company; FlexSim Software Products, Inc; Rockwell Automation; Simio LLC; among others.
Research Methodology: Global Simulation Software Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved