Chicago, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Simulation Software Market size is 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% from 2020 to 2026 according to a new report by MarketsandMarkets™. Reduction in production expenses and training costs, use of advanced technologies for simulation, and avoiding production of faulty products to boost the growth of Simulation Software Market across the globe during the forecast period. Lack of standard benchmarks to measure outputs is one of the major challenges of the Simulation Software Market.
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Browse in-depth TOC on "Simulation Software Market”
300 - Tables
43 - Figures
288 - Pages
Scope of the Report
| Report Metrics | Details |
| Market size available for years | 2014–2026 |
| Base year considered | 2019 |
| Forecast period | 2020-2026 |
| Forecast units | USD Million |
| Market Value in 2020 | USD 12.7 billion |
| Forecast Value in 2026 | USD 26.9 billion |
| Segments covered | By Component, by Deployment, by Application, by Vertical, and by Region |
| Regions covered | North America, Europe, APAC, MEA, and Latin America |
| Companies covered | IBM (US), Microsoft (US), SAP (Germany), AWS (US), Oracle (US), Huawei (China), R3 (US), HPE (US), Accenture (Dublin), Wipro (India), Infosys (India), Bitfury (The Netherlands), Factom (US), LeewayHertz (US), Altoros (US), VeChain (China), Salesforce (US), OpenXcell (US), Oodles Technologies (India), and Blocko (South Korea). |
The report segments the Simulation Software Market by component, by deployment, by application, by vertical and by region. The component segment is categorized into software and professional services. Further, the deployment type segment is bifurcated into cloud and on premise. The application segment is bifurcated into product engineering, research and development and gamification. The vertical segment consists of automobile, aerospace, and defense, electrical and electronics, healthcare and pharmaceuticals, oil and gas and mining, construction, ship buildings and marine, chemicals and other verticals. Based on region, Simulation Software Market is segmented into five major regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.
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Based on components, the Simulation Software Market is segmented into software and professional services. Simulation software and services are the essential components of a product lifecycle management as it helps organizations in solving real-time problems safely and efficiently. Across all industries and disciplines, simulation provided a dynamic environment to analyze 2D or 3D computer models.
Simulation software is an essential component of a Computer-Aided Engineering (CAE) process. It helps engineers and product designers to evaluate, optimize, and compare their product designs and prototypes by modelling events in real world computer-generated environment. Simulation software creates a model governed by equations and mathematical data and place it in a pre-defined system. By analyzing these models, engineers can observe the system interaction with the real-time scenarios, and predict its performance, defects, stresses, and product lifespan. Some of the examples of simulation models includes mechanics, electrical system, chemical reactions, heat, and weather.
The simulation software in the R&D segment is expected to gain high demand. R&D is the crucial and an important application area of simulation software. Analyzing and predicting the interaction and behaviour of a product in real environment at the initial stage or at the concept developing stage has come up as the efficient and cost-saving phase of the product lifecycle. Using the simulation technology, the R&D strategy can be well-developed, thereby enabling the understanding of upcoming technologies and complex situations.
Market Players
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).
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