Global Simulation Software Market By Component (Software (Without Services) and Services) By Deployment Mode (On-premise and Cloud) By Vertical (Automotive, Aerospace & Defense, Electrical & Electronics, Industrial Equipment, Healthcare and Others)
Special Offering: Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
Get in-depth analysis of the COVID-19 impact on the Simulation Software Market
Market Report Description
The Global Simulation Software Market size is expected to reach $19.4 billion by 2025, rising at a market growth of 15.3% CAGR during the forecast period. Simulation software is a program that enables companies to create a sample process and to monitor an operation without actually doing it. It facilitates testing, tracking, and analysis of responses of the same or modified process with different inputs. Simulation technology is generally used to design equipment in order to ensure that the final product is similar to design specifications without making expensive changes to procedures. Several aerospace and defense companies have invested heavily in research to improve image recognition and related applications.
Global Simulation Software Market Size
Demand for simulation software grew due to increased R&D investment in different industries, including the aerospace and defense industries, automotive, and healthcare. Furthermore, the growth of this market is driven by the rise in demand for reduced product development times and reduced costs. Due to new trends including digital twin support, additive manufacturing, real-time simulation, and successful use of IoT and data analytics for simulation, the simulation software market is expected to grow exponentially. In addition, the market for simulation software has seen the shift towards strategic partnerships and collaboration between competitors and key players in the end user sectors in order to meet the demands of the related industries. This is expected to increase market growth over the forecast period.
Global Simulation Software Market Share
Based on Component, the market is segmented into Software (Without Services) and Services. Based on Deployment Mode, the market is segmented into On-premise and Cloud. Based on Vertical, the market is segmented into Automotive, Aerospace & Defense, Electrical & Electronics, Industrial Equipment, Healthcare and Others. The Electrical and Electronics segment was dominant in terms of revenue in 2018. Due to the increased utilization by semiconductor and electronic vendors of simulation software to inspect prototype objects at all possible scales, it is expected to maintain its dominance by 2025 as it removes product defects in the design stage. In addition, the high level of IoT technology & virtual reality is projected to fuel the growth of this segment in digital manufacturing, robotics and smart domestic appliances. In addition, over the forecast period, the aerospace & defense segment is set to grow at a substantial CAGR. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Simulation Software Market Cardinal Matrix
The major strategies followed by the market participants are Product launches and Partnerships & Collaborations. Based on the Analysis presented in the Cardinal matrix, Hexagon AB, Dassault Systemes SE, and Siemens AG are some of the forerunners in the Simulation Software Market. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Altair Engineering, Inc., ANSYS, Inc., Autodesk, Inc., Bentley Systems, Inc., Dassault Systemes SE, Hexagon AB, The MathWorks, Inc., PTC, Inc., Siemens AG and Synopsys, Inc..
Recent Strategies Deployed in Simulation Software Market
» Collaborations, Partnerships and Agreements:
- Oct-2019: ANSYS teamed up with Turbotech in order to offer its simulation solutions to Turbotech which can help in transforming its aeronautical propulsion.
- Oct-2019: Siemens PLM Software collaborated with Nissan in order to deploy its PLM software for the testing of vehicles which helps it in achieving the goals of long service and high reliability life for the vehicles.
- Sep-2019: Autodesk teamed up with ANSYS in order to help automotive companies combining their visual design review and regulatory compliance validation in a connected workflow through connecting its automotive 3D visualization with Ansys' physics-based lighting simulation solutions.
- Sep-2019: Synopsys collaborated with Google in which Google will deliver a solution to Synopsys through which Synopsys VCS® simulation workloads will be transferred to Google Cloud.
- Jul-2019: Dassault Systemes extended its collaboration with FDA in which they will evaluate the Living Heart simulated 3D heart for enabling more efficient regulatory review of the medical and cardiovascular devices.
- Jun-2019: Autodesk signed an agreement with Beaumont Technologies in which Beaumont will sell the Moldflow and simulation solutions of Autodesk.
- Apr-2019: MSC Software, a Hexagon Company extended its partnership with Aras in order to enhance its simulation process and data management solutions.
- Mar-2019: Altir collaborated with Malaysia Automotive Robotics and IoT Institute (MARii) and ORS for developing simulation solutions through the combination of the expertise of all the three companies.
- Feb-2019: Dassault Systemes signed partnership agreement with Airbus in which the 3DEXPERIENCE platform of Dassault will be deployed by Airbus for cooperating on the implementation of engineering, manufacturing and simulation applications.
- Jan-2019: Siemens PLM Software signed partnership agreement with Modelon in order to accelerate its simulation capabilities.
- Dec-2018: Siemens PLM Software signed an agreement with IDS in order to develop wide range of Electro Magnetic products for delivering it to Galileo.
- Nov-2018: Autodesk extended its collaboration with Unity in order to provide real time experiences and visualization solutions to the industries.
» Acquisition and Mergers:
- Oct-2019: Bentley Systems acquired Citilabs and Orbit Geospatial Technologies for the expansion of its analytics and mobile simulation software.
- Oct-2019: Siemens PLM Software took over Sheffield in order to enhance its business capabilities.
- Oct-2019: Synopsys acquired QTronic GmbH in order to strengthen its business by developing new and innovative products related to simulation.
- Jun-2019: Dassault Systemes announced the acquisition of Medidata Solutions for the commercial testing of health technologies and devices.
- Jun-2019: Hexagon took over AMendate in order to complement its simulation software and providing support to next generation and optimization of designs for additive manufacturing.
- Jan-2019: ANSYS acquired Granta Design in order to enhance its portfolio which gives the customers access to material intelligence which comprises of the data that are critical to successful simulations.
- Dec-2018: Altir acquired Datawatch Corporation in order to develop products which deliver high value to the customers.
- Nov-2018: PTC acquired Frustum, Inc. in order to enhance its CAD portfolio which accelerated the generative design capabilities.
- Oct-2018: Altir took over SIMSOLID, which works on full-fidelity CAD assemblies for delivering accurate, fast and robust structural simulation without the need of geometry simplification, cleanup, or meshing in order to enhance its capabilities.
- Oct-2018: Bentley Systems took over LEGION in order to enhance its modeling solutions.
- Jun-2018: Hexagon acquired SPRING Technologies in order to optimize the machining workflows through machine tool management, machine tool simulation, and toolpath verification and optimization.
- Mar-2018: ANSYS took over OPTIS that will extend its multiphysics-based portfolio into the increasingly important area of optical simulation.
- Sep-2017: Altir announced the acquisition of Componeering Inc. for developing ESAComp composites simulation software.
» Product Launches:
- Sep-2019: MathWorks launched 2019b with a range of new capabilities in MATLAB and Simulink in order to support new training resources for event-based modeling.
- Jun-2019: Altir launched Altair HyperWorks 2019, the latest version of its simulation and AI-driven product development platform which is capable of making fast simulation of complex assemblies and provides enhanced user experience for fast concept modeling.
- Jun-2019: PTC released ThingWorx 8.5, an Industrial IoT (IIoT) platform in order to combine the new capabilities with domain-specific solutions for addressing the digital transformation needs of industrial enterprises.
- May-2019: Bentley Systems announced the launch of OpenBuildings Station Designer, a new multidisciplinary application for simulation of new or operating metro, rail or other transit stations.
- Mar-2019: PTC introduced Creo® 3D computer-aided design (CAD) platform for enabling the engineers to use the manufacturing capabilities and innovative design in one environment.
- Jan-2019: Siemens PLM Software launched new Simcenter 3D PLM software which offers wide range of simulation capabilities.
- Aug-2018: Altir introduced a new software licensing model for its solidThinking suite of simulation-driven design software for sharing the distinct and similar advantages which enables the design engineering community and SMB customers in order to drive product innovation with simulation.
- Mar-2018: PTC announced the launch of Creo 5.0 in order to add a number of functions which suggests the improved design possibilities for allowing the users to prepare for the functions.
- Dec-2017: Synopsys launched LucidDrive® software product, in order to allow the designers to stimulate the performance of automotive headlamps while driving at night.
- Aug-2017: ANSYS launched Ansys 18.2, new software which provides high speed, accuracy and ease-of use in automotive applications.
- Oct-2019: Hexagon opened a new R&D center in Hyderabad in order to expand its reach to India for making the research of its simulation applications.
- Feb-2019: Dassault Systemes expanded its reach to India by opening a new 3D’ experience centre in Chennai in order to enhance its business.
- Feb-2016: Autodesk extended its simulation workspace in Fusion 360 functionality by adding thermal functionalities to it for making improvements to rendering, modeling and collaboration tools.
Scope of the Simulation Software Market Analysis
- Software (Without Services)
By Deployment Mode
- Aerospace & Defense
- Electrical & Electronics
- Industrial Equipment
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Altair Engineering, Inc.
- ANSYS, Inc.
- Autodesk, Inc.
- Bentley Systems, Inc.
- Dassault Systemes SE
- Hexagon AB
- PTC, Inc.
- Siemens AG
- Synopsys, Inc.
Unique Offerings from KBV Research
- Exhaustive coverage
- Highest number of market tables and figures
- Subscription based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free