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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Increasing Uptake of Simulation Software in Various
Industries to Boost Growth
“The widening application base of simulation software is the
key factor behind the significant growth of the global market for simulation
software,” says a TMR analyst. A number of industries have begun to utilize
simulation software to gain a real-time understanding of several processes.
Owing to its significant role in various decision-making processes in
organizations, this software is expected to witness a high rate of uptake in
the near future, leading to a substantial rise of this market.
On the flipside, the complex nature of real-time control may
limit the adoption of this software in the years to come. However, the
augmenting usage of simulation in the healthcare and the automotive sectors is
anticipated to normalize the impact of the restraining factor over the next few
years, states the research report.
Presence of Established Players to Strengthen North
America’s Position
In terms of the geography, North America, South America, the
Middle East and Africa, Asia Pacific, and Europe have surfaced as the key
segments of the worldwide market for simulation software. North America, among
these, is estimated to dominate this market in the near future, thanks to the
presence of a number of established players. Asia Pacific, on the other hand,
is projected to emerge as the most promising regional market in the years to come.
The growth in the Asia Pacific market can be attributed to the increasing usage
of simulation software in the construction industry, owing to the rise in the
government investment in several smart city projects, especially in India,
reports the research study.
The review is based on a report by Transparency Market
Research (TMR), titled “Simulation Software Market (Components – Software
(On-premise based and Cloud based), Services (Consultancy, Training, and
others); End-use Industry – Automotive, Aerospace & Defense, Healthcare,
Semiconductor, and AEC (Architecture, Engineering, Construction)) – Global
Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.”
The global simulation software market has been segmented as
follows:
By Components
- Software
- On-premise
based
- Cloud
based
- Services
- Consultancy
- Training
- others
By End-use Industry
- Automotive
- Aerospace
& Defense
- Healthcare
- Semiconductor
- AEC
(Architecture, Engineering, Construction)
- Others
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