Simulation software industry – COVID – 19 Outbreak, Business Trends, Global Segments by Forecast 2027
Market Scenario:
The Simulation software industry is predicted to develop at a 16% CAGR during the forecast period (2020- 2027), states the latest Market Research Future (MRFR) report.
The emergence of autonomous vehicles and the electric vehicles is predicted to boost the market growth over the forecast period. The automotive manufacturers are making the most of simulation tools for testing the effectiveness and efficiency of such vehicles using real-world situations. They also use simulation software for meeting different industry standards and regulations.
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Competitive Outlook:
Bentley Systems, Ansys, Inc., Siemens PLM Software, Altair Engineering, Autodesk, Inc., CPFD Software, and PTC are key players of the global simulation software market. Other players are Dassault Systemes, Cybernet Systems Co. Ltd., Synopsys, Inc., Design Simulation Technologies, Inc., MathWorks, Inc., and others. Huge demand for software solutions and need for innovative products can drive the market players into action.
Segmentation:
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 application, the market is segmented into training, research & development, eLearning, and others. The research and development application is expected to lead in the market owing to theoretical scientists using the software for testing new theories which can lead to leaps in science. The need to shorten product lifecycle and accelerate product-to-market can fuel the adoption of simulation software.
Based on vertical, the market is segmented into healthcare, automobile, education & research, aerospace and defense, electrical and electronics, industrial manufacturing, and others.
Regional Analysis:
The global simulation software market is studied in Asia Pacific (APAC), North America, Europe, and Rest-of-the-World (RoW). 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, increased adoption of simulation software applications across small and medium enterprises, and well-developed infrastructure capable of handling the diverse requirements of software simulations.
APAC is estimated to be beneficial to the market owing to establishment of branches of reputed research and development organizations in countries of China, India, and Japan. The software is used in predicting performance, shelf life, and analysis of other parameters. Awareness of the software by behemoths in automotive, industrial, electrical and electronics, and defense companies can fuel its demand till 2023.
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
Continued….
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List of Tables
Table 1 Global Simulation Software Market: By Region, 2020-2027
Table 2 North America Simulation Software Market: By Country, 2020-2027
Table 3 Europe Simulation Software Market: By Country, 2020-2027
Continued…
List of Figures
FIGURE 1 Global Simulation Software Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis of Global Simulation Software Market
Continued…
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