The business landscape in the global simulation software market is characterized by the rivalry between Altair Engineering Inc., The AnyLogic Co., SimScale GmbH, ESI Group, Dassault Systemes, and Autodesk Inc., states Transparency Market Research (TMR) in a new research report. These players are increasingly engaging into mergers, acquisitions, and partnerships to create talent pools and gain advantages from each other’s brand value. The market is likely to witness a number of new entries in the near future, which is likely to intensify the competition within the market, states the research report.
According to the research study, the global market for simulation software is anticipated to reach US$16.7 bn by 2025 end. The opportunity in this market is expected to rise at a CAGR of 9.33% during the period from 2017 to 2025. Simulation software has found a widespread application in the automotive industry and the sector is projected to remain the leading end user of this software in the years to come. Among components, software, especially, cloud-based software are witnessing a considerably high demand. The segment is anticipated to acquire dominant position in the market over the next few years, contributing US$11.54 bn by 2025 end in terms of revenue, notes the market study.
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