Simulation Software Market Growth Trend & Forecast with latest research study released by Delvens evaluating the market risk side analysis, highlighting opportunities, and leveraging strategic and tactical decision-making support. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the Global market, the global simulation software market size was valued at USD 9.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 17.1% to 2030.
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Simulation software is a tool used to virtually create a real-time environment to test the applicability and efficiency of different products and processes.
Benefits such as a reduction in production expenditure and reduced costs of training are some of the factors that have supported long-term expansion for Simulation Software Market.
Regional Analysis
North America dominated the simulation software market and accounted for the largest revenue share of 34.7% in 2020. The region is expected to continue its dominance over the forecast period. The growth of the region can be attributed to the presence of major players operating in the U.S. and Canada.
Recent Developments
In February 2021, MathWorks partnership with Aimotive, an automotive vehicle technology company. The partnership will help MathWorks add RoadRunner tool of AImotive into its aiSim, an automotive-grade simulation platform for end-to-end testing of automated driving software.
In September 2020, MathWorks launched updation in its software named as Simulink 2020b. The enhanced Simulink 2020b focuses on expanded access and speed, including the launch of Simulink Online for access through web browsers.
Key Players of Simulation Software Market
- Altair Engineering, Inc.
- Autodesk Inc.
- Ansys, Inc.
- Bentley Systems, Incorporated
- Dassault Systèmes
- MathWorks, Inc.
- Rockwell Automation, Inc.
- Simulations Plus
- ESI Group
- GSE Systems and More
Simulation Software Market is segmented into component, deployment, end user and region.
On the basis of Component
- software
- service
On the basis of Deployment
- on-premise
- cloud
On the basis of End-User
- Automotive
- Aerospace & Defense
- Electrical & Electronics
- Industrial Manufacturing
- Healthcare
On the basis of Region
- Asia Pacific
- North America
- Europe
- South America
- Middle East & Africa
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