Simulation Software Market Size & Analysis - Forecasts To 2025 By Product (Finite Element Analysis, Computational Fluid Dynamics, Electromagnetic), By Application (Aerospace & Defence, Transportation, Wind Energy, Building & Construction, Marine, Others), By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), Vendor Landscape, End-use Landscape, and Competitive Landscape - Global Market Estimates
Simulation Software Market Insights
The demand for simulation software is expected to grow at a high CAGR over the forecast period. High demand for composite manufacturing, rising technological advancements, and demand for product innovations in various organizations is expected to increase the demand for simulation software.
New product development is very critical for companies to maintain a competitive edge in the market. New product developments are also very expensive; however, simulation software helps lower expenses incurred in developing and testing products. Simulations software helps a wide range of product prototypes and design to evaluate the best option.
Simulation Software Market: Product Insights
Financial element analysis helps detect mechanical stress, vibration, fatigue, fluid flow, heat transfer, and motion of products. Financial element analysis determines the strength and performance of a product in various environments. It also helps determine whether the product will work as it was designed to work, when the product will breakdown, and wear out.
Computational fluid dynamics (CFD) tries to analyse fluid flows through the product. Electromagnetic stimulation therapy enhances blood circulation thereby improving a body’s healing property.
Simulation Software Market: Application Insights
Some of the industries using simulation software extensively are the aerospace & defence, transportation, wind energy, building & construction, and marine sector. In the aerospace & defence sector, it enables product development through simulation driven aerospace engineering design. The software analyses aerodynamics, electronics, controls, propulsion systems, and aerostructures. In the automotive & transportation sector it enables testing traffic flow software, managing railway lines, and automotives.
In the wind energy sector, simulation software evaluates how efficiently the farm will perform at different atmospheric conditions and terrains. Simulation software is widely used in the building & construction sector. Contractors, builders, architects, and engineers are extensively using simulation software to give their clients an experience of the interiors and 3D visualization of the house.
Simulation Software Market: Regional Insights
North America occupied the largest market share in 2016. The growing aerospace market is expected to increase the demand for simulation software in North America. Asia Pacific is projected to grow at the highest CAGR from 2017 to 2025.
Growing infrastructure development in countries such as India, China, Malaysia, and Indonesia is expected to increase the demand for simulation software in the transportation, building & construction, and energy sector. The growing media & entertainment industry in Asia Pacific is projected to foster demand for 3D visualization software used in games, entertainment parks, and virtual reality setups.
The growing demand for advanced and automated vehicles is projected to augment the demand for automotive simulations. Europe and Asia are two of the largest automobile producers in the world. The automotive market is tremendously influenced by technological innovations and improved vehicle performance, thereby positively influencing demand for simulation software.
Simulation Software Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase simulation software over the coming years. Some leading consumers in the information technology industry include General Electric, United Technologies and Boeing among others.
Simulation Software Market: Competitive Landscape
Some of the companies developing simulation software are Remcom, SimScale, Emulate3D, The MathWorks, ANSYS, SIMUL8, Autodesk, Rockwell Automation, and Altair Engineering. In November 2017, ANSYS acquired 3DSIM. 3DSIM develops engineering software for additive manufacturing process improvement. In August 2016, ANSYS signed an agreement with Caterpillar Inc. to develop multiphysics analysis software on a single engineering simulation solution platform.
Please note: This is not an exhaustive list of companies profiled in the report.
Check the Press Release on Global Simulation Software Market Report
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The global Simulation Software Market has been studied from the year 2016 till 2025. However, the CAGR provided in the report is from the year 2017 to 2025. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Simulation Software Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies, and customer analytics.
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