Simulation Software Market worth $ 10,029 million by 2025, with a CAGR of 8.90% from 2018 to 2025
Lowering production expenses and lowering training costs are expected to drive the simulation software market.
PORTLAND, PORTLAND, OR, USA, Aug 23, 2021 /EINPresswire.com/ – Includes growing demand for an effective solution to reduce production spend and training costs and increase simulation capabilities for advanced technologies such as digital twins, AR / VR and 3D printing.
The increase in the adoption of simulation in the aerospace and defense industry, the increase in demand for environmentally friendly workplaces and the increase in the use of simulation software for the automotive and healthcare sectors are driving market growth. However, security concerns related to simulation software are holding back the growth of the market. On the other hand, innovative applications of simulations for digital twins and the use of simulation software for the construction of devices supporting IoT are expected to provide new opportunities in the industry in the years to come.
The global simulation software market generated $ 5.16 billion in 2017 and is expected to generate $ 10.03 billion by 2025, with a CAGR of 8.9% from 2018 to 2025. The report provides detailed analysis major investment pockets, market size & projections, drivers & opportunities, key segments and competitive scenario.
Among components, the software segment held the largest share in 2017, contributing nearly three-quarters of the total market share, and will maintain its lion’s share by 2025. However, the services segment is expected to grow at CAGR the fastest of 10.8%. from 2018 to 2025, due to increased needs for regular updates, training, maintenance and support.
North America accounted for the highest market share in 2017, contributing over two-fifths of the total market share and is expected to maintain its leading position during the forecast period. This is due to the large-scale implementation of simulation technologies and solutions by companies to meet the need for new designs and simplify the product development process. However, the Asia-Pacific region is expected to register the highest CAGR of 12.0% during the forecast period.
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Based on modes of deployment, the on-premise segment accounted for the highest market share of over five-sixths of the total market and is expected to maintain its dominance throughout the forecast period. This is due to the preference for on-site deployment in industries such as healthcare, aerospace and defense, and others for increased data security. However, the cloud segment is estimated to register the highest CAGR of 13.5% from 2018 to 2025, due to the demand for scalability, usability and flexibility of real-time data.
Profiling of key players: Altair Engineering, Inc., ANSYS, Inc., Autodesk, Inc., Bentley Systems, Dassault Systems, Hexagon (MSC Software Corporation), The MathWorks, Inc., PTC, Inc., Siemens PLM Software and The AnyLogic Company.
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Highlights of the report:
1. Comprehensive assessment of all opportunities and risks in the global market.
2. Simulation software commercializes recent innovations and major events.
3. Detailed study of business strategies for growth of key players in the Simulation Software market.
4. Conclusive study on the growth curve of the simulation software market for the coming years.
5. In-depth understanding of the drivers, restraints, and major micro-markets of the Simulation Software market.
6. Favorable impression inside the latest vital technology and market trends hitting the simulation software market.
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