Simulation is a representation of the functioning of a system or process. Through simulation, a model may be implanted with unlimited variations, producing complex scenarios. Simulation software is based on the process of modeling a real phenomenon with a set of mathematical formulas. It helps to predict the behavior of the system. These capabilities allow analysis and understanding of how individual elements interact and affect the simulated environment. It is used to evaluate a new design, analyze problems with present design, and test a system in conditions that are difficult to reproduce.
Increase in demand for eco-friendly work environment, need to test different designs before constructing one in hardware, rise in use of simulation software in automotive and healthcare industry, and significant adoption of simulation among aerospace & defense are some of the major factors that drive the growth of the global simulation software market. Further, growing number of small and medium enterprise units are anticipated to drive the growth of the market. However, risks associated with data security are expected to restrain the simulation software market growth. Emerging trends such as digital twins in the industry 4.0 and use of simulation software to develop IoT supporting devices are expected to provide lucrative opportunities for the global simulation software market during the forecast period.
Major Key Players of the Simulation Software Market are:Altair Engineering, ANSYS, Autodesk, Bentley Systems; Dassault Systmes; Hexagon (MSC Software Corporation); The MathWorks, Inc.; PTC, Inc.; Siemens PLM Software; and The AnyLogic Company.
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