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Simulation Software Market - Industry Analysis,Share, Trends,Application Analysis, Growth and Forecast 2021 - 2026
Simulation Software Market - Industry Analysis,Share, Trends,Application Analysis, Growth and Forecast 2021 - 2026
Simulation Software Market Size is forecast to reach $20.3 billion by 2026, at a CAGR of 17.0% during 2021-2026.

Simulation Software Market Overview

 

Simulation Software Market Size is forecast to reach $20.3 billion by 2026, at a CAGR of 17.0% during 2021-2026. Adoption of simulation software in aerospace, defense and automobile industries with the development of modern aircraft, autonomous and electric vehicles boost the simulation software market growth. In addition to these, process simulation software is also used in designing or creating Internet of Things (IoT) devices and apps.

High adoption of simulation software for modeling and simulation in the development of industrial products is set to drive industry 4.0. Similarly, growing developments by various companies is analyzed to drive the market growth. In 2020, Desktop Metal had launched Live Sinter simulation software for powder metallurgy-based manufacturing processes. Further, entry of new players in developed and developing economies will further enhance the overall market demand for Simulation Software during the forecast period 2021-2026.

Report Coverage

 

The report: “Simulation Software Market – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Simulation Software market
By Deployment Mode Cloud, On-Premises
By Type : Software (Finite Element Analysis, Computational Fluid Dynamics, Electromagnetic Waves and Others) Services (Design & Consulting, Support & Maintenance, E-Learning & Training, Research & Development)
By Vertical : Automobile, Aerospace & Defense, Electrical & Electronics, Industrial Manufacturing, Healthcare, Education & Research, Others.
By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands and Others), APAC(China, Japan India, SK, Australia, Indonesia and Others), South America(Brazil, Argentina, Chile, Colombia and others), and RoW (Middle East and Africa).

 

<span lang="EN-US" times="" new="" roman";mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;="" color:black;mso-themecolor:text1"="" style="box-sizing: border-box;">Key Takeaways

 

  • Simulation Software market in North America region held significant market share of 34% in the forecast period. Early adoption of advanced technologies in aerospace, defense and others has been increasing the demand for simulation software.
  • <span lang="EN-US" calibri","sans-serif";="" mso-ascii-theme-font:minor-latin;mso-hansi-theme-font:minor-latin;mso-bidi-theme-font:="" minor-latin;color:black;mso-themecolor:text1;border:none="" windowtext="" 1.0pt;="" mso-border-alt:none="" 0cm;padding:0cm;mso-ansi-language:en-us;="" mso-fareast-language:en-us;mso-bidi-font-weight:bold"="" style="box-sizing: border-box;">Cloud deployment is growing at a highest CAGR of 20.3% in the forecast period owing to its operational flexibility and real-time deployment ease to companies compared to on-premises deployment.
  • Automotive sector is expected to witness a highest CAGR of 21.2% the forecast period. Increasing focus on R&D activities and rapid technological changes owing to the changing government norms for vehicle safety are projected to drive the market.
  • <span lang="EN-GB" calibri","sans-serif";="" mso-ascii-theme-font:minor-latin;mso-hansi-theme-font:minor-latin;mso-bidi-theme-font:="" minor-latin;color:black;mso-themecolor:text1"="" style="box-sizing: border-box;">Simulation Software top 10 companies include Altair Engineering, Ansys, Autodesk, Bentley Systems, CPFD Software, Cybernet, Dassault Systems, Design Simulation Technologies, Mathworks, PTC, Siemens PLM Software among others.

 

 

Simulation Software Market<span lang="EN-US" times="" new="" roman";mso-fareast-theme-font:="" minor-fareast;mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;="" color:black;mso-themecolor:text1;background:white"="" style="box-sizing: border-box;"> <span lang="EN-US" times="" new="" roman";mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;="" color:black;mso-themecolor:text1;background:white"="" style="box-sizing: border-box;">Segment Analysis - <span lang="EN-US" times="" new="" roman";mso-fareast-theme-font:minor-fareast;mso-bidi-font-family:="" calibri;mso-bidi-theme-font:minor-latin;color:black;mso-themecolor:text1;="" background:white"="" style="box-sizing: border-box;">By Deployment

<span lang="EN-GB" times="" new="" roman";mso-bidi-font-family:calibri;="" mso-bidi-theme-font:minor-latin;color:black;mso-themecolor:text1;mso-ansi-language:="" en-gb"="" style="box-sizing: border-box;">Cloud deployment is growing at a highest CAGR of 20.3% in t<span lang="EN-GB" times="" new="" roman";mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;="" color:black;mso-themecolor:text1;mso-ansi-language:en-gb"="" style="box-sizing: border-box;">he forecast period owing to its operational flexibility and real-time deployment ease to companies compared to on-premises deployment. It also offers numerous benefits, including reduced operational costs, simple deployment process, and higher scalability in terms of connected resources. Additionally, the cost-effective cloud-based solutions ease installation when compared to the on-premises solutions. The highest level of data security and reliability offered by the cloud deployment are increasing the share of this deployment in the forecast period.

<span lang="EN-GB" times="" new="" roman";mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;="" color:black;mso-themecolor:text1;mso-ansi-language:en-gb"="" style="box-sizing: border-box;">Several companies are providing solutions related to this deployment. For instance <span lang="EN-GB" times="" new="" roman";mso-bidi-font-family:calibri;="" mso-bidi-theme-font:minor-latin;color:black;mso-themecolor:text1;mso-ansi-language:="" en-gb"="" style="box-sizing: border-box;">SimScale is a full-cloud CAE simulation software that helps to perform CFD, FEA, and thermal simulations for CAD models in the cloud. Similarly, AnyLogi? Cloud is a cloud-based simulation tool that allows users to run simulation models such as Finite Element Analysis and Computational Fluid Dynamics<span lang="EN-GB" times="" new="" roman";mso-bidi-font-family:calibri;="" mso-bidi-theme-font:minor-latin;color:black;mso-themecolor:text1;mso-ansi-language:="" en-gb"="" style="box-sizing: border-box;"> online using just a web browser and share them. Hence these benefits are analysed to drive the market growth in the forecast period 2021-2026.

Simulation Software Market<span lang="EN-US" times="" new="" roman";mso-fareast-theme-font:="" minor-fareast;mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;="" color:black;mso-themecolor:text1;background:white"="" style="box-sizing: border-box;"> <span lang="EN-US" times="" new="" roman";mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;="" color:black;mso-themecolor:text1;background:white"="" style="box-sizing: border-box;">Segment Analysis - <span lang="EN-US" times="" new="" roman";mso-fareast-theme-font:minor-fareast;mso-bidi-font-family:="" calibri;mso-bidi-theme-font:minor-latin;color:black;mso-themecolor:text1;="" background:white"="" style="box-sizing: border-box;">By Vertical

Automotive sector is expected to witness a highest CAGR of 21.2% the forecast period. Increasing focus on R&D activities and rapid technological changes owing to the changing government norms for vehicle safety are projected to drive the market. With increasing connectivity and digitalization, OEMs are focusing on improving cybersecurity over connected vehicles & devices, which is expected to drive the automotive simulation market for software such as Finite Element Analysis and Computational Fluid Dynamics. Along with cybersecurity, rapid infrastructure development and advancements in 5G technology companies such as Nvidia, IPG automotive and so on are collaborating with several global companies for advancements in these simulation software.

In 2019, Nvidia had partnered with Toyota for autonomous vehicle simulation platform drive constellation, the cloud-based platform. This platform would enable the self-driving car developers to run tests on virtual, rather than real roads. In 2018, IPG Automotive signed a partnership agreement with Transpolis SAS to develop innovative solutions in the field of large-scale simulation. Hence these factors are anticipated to fuel the growth of the simulation software market in the forecast period 2021-2026.

Simulation Software Market<span lang="EN-US" times="" new="" roman";mso-fareast-theme-font:="" minor-fareast;mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;="" color:black;mso-themecolor:text1;background:white"="" style="box-sizing: border-box;"> <span lang="EN-US" times="" new="" roman";mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;="" color:black;mso-themecolor:text1;background:white"="" style="box-sizing: border-box;">Segment Analysis - By Geography

Simulation Software market in North America region held significant market share of 34% in the forecast period. Early adoption of advanced technologies in aerospace, defense and other has been increasing the demand for simulation software. In addition, the governments in the North American region are constantly focusing on innovation and investment for a greener work environment. The regulations associated with the eco-friendly work environment are becoming stringent in the region and as a result, companies are adopting simulators to test product viability before manufacturing.

In U.S. strict guidelines imposed by the Federal Aviation Administration (FAA) and Federal Aviation Regulations (FARs) regarding use of simulators for training purpose. According to new FAR regulations, Air carriers must compulsorily develop training programs using simulators that meet the upgraded requirements. Stringent regulations as such will drive the usage of simulators thereby driving simulation software in this region. According to U.S. Department of Defense, by 2022, U.S Military had committed to invest more than $11 billion for virtual, augmented and mixed reality training systems and simulator. Hence these factors drive the market growth in the forecast period 2021-2026.

Simulation Software Market<span lang="EN-US" times="" new="" roman";mso-fareast-theme-font:="" minor-fareast;mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;="" color:black;mso-themecolor:text1;background:white"="" style="box-sizing: border-box;"> Drivers

<span lang="EN-US" times="" new="" roman";mso-bidi-font-family:="" calibri;mso-bidi-theme-font:minor-latin;color:black;mso-themecolor:text1;="" border:none="" windowtext="" 1.0pt;mso-border-alt:none="" 0cm;padding:0cm"="" style="box-sizing: border-box;">Growing advancements in simulation software

 

<span lang="EN-US" times="" new="" roman";mso-bidi-font-family:calibri;="" mso-bidi-theme-font:minor-latin;color:black;mso-themecolor:text1;border:none="" windowtext="" 1.0pt;="" mso-border-alt:none="" 0cm;padding:0cm;mso-bidi-font-weight:bold"="" style="box-sizing: border-box;">Simulation software companies are strengthening their position through mergers & acquisitions and continuously investing in research and development (R&D) activities to come up with solutions to cater to the changing requirements of customers. In addition companies such as Siemens, Rockwell, Ansys, and so on are planning to invest in advanced technologies such as artificial intelligence with a target to provide cost competitive Finite Element Analysis and Computational Fluid Dynamics products in the market in the forecast period.

<span lang="EN-US" times="" new="" roman";mso-bidi-font-family:calibri;="" mso-bidi-theme-font:minor-latin;color:black;mso-themecolor:text1;border:none="" windowtext="" 1.0pt;="" mso-border-alt:none="" 0cm;padding:0cm;mso-bidi-font-weight:bold"="" style="box-sizing: border-box;">In 2020 Ansys Inc. entered into a definitive agreement to acquire Lumerical Inc., which is a leading developer of photonic design and simulation tools. The acquisition will add a wide range of photonics products to the Ansys Multiphysics portfolio, providing customers with a full set of solutions to solve its next-generation product challenges.

<span lang="EN-US" times="" new="" roman";mso-bidi-font-family:calibri;="" mso-bidi-theme-font:minor-latin;color:black;mso-themecolor:text1;border:none="" windowtext="" 1.0pt;="" mso-border-alt:none="" 0cm;padding:0cm;mso-bidi-font-weight:bold"="" style="box-sizing: border-box;">In 2019, Altair Engineering Inc. launched a new manufacturing simulation solution for additive manufacturing, Inspire Print3D. The solution is aimed explicitly at selective laser melting (SLM).

<span lang="EN-US" times="" new="" roman";mso-bidi-font-family:calibri;="" mso-bidi-theme-font:minor-latin;color:black;mso-themecolor:text1;border:none="" windowtext="" 1.0pt;="" mso-border-alt:none="" 0cm;padding:0cm;mso-bidi-font-weight:bold"="" style="box-sizing: border-box;">In 2020, Kumux has launched the 2.0 version of its spectral simulation software, which allows the creation of differential lighting, beneficial to people’s health and plant growth.

In 2018, Simufact Engineering, an MSC Software company and expert in manufacturing process simulation, had launched Simufact Additive software solution for the simulation of metal additive manufacturing processes. Hence these advancements are analyzed to drive the market growth in the forecast period 2021-2026.

Growing adoption of simulation software among aerospace & defense

 

 

The aerospace & defense industry has been one of the major end users of simulation as they use modelling and simulation for numerous purposes including, training of individual soldiers, conducting joint training operations, formulating operational plans, developing doctrine and tactics, and analyzing alternative force structures, Finite Element Analysis and Computational Fluid Dynamics.

The technology fulfills critical defense needs of command, control, and communications; manpower, personnel, and training; computing and software; electronics; and manufacturing technology. These defense models and simulations vary in a broad range from components of large weapons systems through system-level to simulations of missions and battles, and so forth. Such significant applications are the major factors driving the growth of the global market in these industries.

 

Simulation Software Market<span lang="EN-US" times="" new="" roman";mso-bidi-font-family:="" calibri;mso-bidi-theme-font:minor-latin;color:black;mso-themecolor:text1;="" background:white"="" style="box-sizing: border-box;"> Challenges

<span lang="EN-US" times="" new="" roman";mso-fareast-theme-font:="" minor-fareast;mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;="" color:black;mso-themecolor:text1;background:white"="" style="box-sizing: border-box;">Data security is the major challenge for simulation software

 

 

<span lang="EN-US" times="" new="" roman";mso-fareast-theme-font:minor-fareast;="" mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;color:black;="" mso-themecolor:text1;background:white;mso-bidi-font-weight:bold"="" style="box-sizing: border-box;">One of the major challenges in Simulation Software is data security. Investment in data security to avoid simulation attacks is one of the major challenges faced by the simulation software companies. Simulated attacks might send fake phishing attacks to employees or attempt cyber-attack on a company’s web application firewall. High investment into data security is the major challenge companies which is hampering the growth of the market. However, the introduction of many cybersecurity tools at affordable prices is set to invest in simulation software, thereby driving the market growth.

Simulation Software <span lang="EN-US" times="" new="" roman";mso-fareast-theme-font:minor-fareast;="" mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;color:black;="" mso-themecolor:text1;background:white"="" style="box-sizing: border-box;">Market Landscape

Software launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players <span lang="EN-GB" calibri","sans-serif";="" mso-ascii-theme-font:minor-latin;mso-hansi-theme-font:minor-latin;mso-bidi-theme-font:="" minor-latin;color:black;mso-themecolor:text1"="" style="box-sizing: border-box;">in the Simulation Software market. In 2020, the market of Simulation Software industry outlook has been fragmented by several companies. Simulation Software top 10 companies include Altair Engineering, Ansys, Autodesk, Bentley Systems, CPFD Software, Cybernet, Dassault Systems, Design Simulation Technologies, Mathworks, PTC, Siemens PLM Software among others.

<span lang="EN-US" times="" new="" roman";mso-bidi-font-family:="" calibri;mso-bidi-theme-font:minor-latin;color:black;mso-themecolor:text1;="" mso-bidi-font-style:italic"="" style="box-sizing: border-box;">Acquisitions/Software Launches

 

  • In 2020, PTC, Inc. launched a 3D computer-aided design software named as Creo 7.0. This software has the new abilities to put the power of artificial intelligence at the fingertips of the designers, hence making the simulation a unified part of the daily work.

Related Reports

Report Code: ITR 76891

Report Code: CMR 0323
 

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