Simulation Software Market - Industry Analysis, Market Size, Share, Trends,Application Analysis, Growth and Forecast 2021 - 2026

 

Simulation Software Market Overview

Simulation Software Market Size is forecast to reach $20.3 billion by 2026, at a CAGR of 17.0% during 2021-2026. Adoption of simulation software in aerospace, defense and automobile industries with the development of modern aircraft, autonomous and electric vehicles boost the simulation software market growth. In addition to these, process simulation software is also used in designing or creating Internet of Things (IoT) devices and apps.

High adoption of simulation software for modeling and simulation in the development of industrial products is set to drive industry 4.0. Similarly, growing developments by various companies is analyzed to drive the market growth. In 2020, Desktop Metal had launched Live Sinter simulation software for powder metallurgy-based manufacturing processes. Further, entry of new players in developed and developing economies will further enhance the overall market demand for Simulation Software during the forecast period 2021-2026.

Report Coverage

The report: “Simulation Software Market – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Simulation Software market
By Deployment Mode : Cloud, On-Premises
By Type : Software (Finite Element Analysis, Computational Fluid Dynamics, Electromagnetic Waves and Others) Services (Design & Consulting, Support & Maintenance, E-Learning & Training, Research & Development)
By Vertical : Automobile, Aerospace & Defense, Electrical & Electronics, Industrial Manufacturing, Healthcare, Education & Research, Others.
By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands and Others), APAC(China, Japan India, SK, Australia, Indonesia and Others), South America(Brazil, Argentina, Chile, Colombia and others), and RoW (Middle East and Africa).

Key Takeaways

  • Simulation Software market in North America region held significant market share of 34% in the forecast period. Early adoption of advanced technologies in aerospace, defense and others has been increasing the demand for simulation software.
  • Cloud deployment is growing at a highest CAGR of 20.3% in the forecast period owing to its operational flexibility and real-time deployment ease to companies compared to on-premises deployment.
  • Automotive sector is expected to witness a highest CAGR of 21.2% the forecast period. Increasing focus on R&D activities and rapid technological changes owing to the changing government norms for vehicle safety are projected to drive the market.
  • Simulation Software top 10 companies include Altair Engineering, Ansys, Autodesk, Bentley Systems, CPFD Software, Cybernet, Dassault Systems, Design Simulation Technologies, Mathworks, PTC, Siemens PLM Software among others.


Simulation Software Market, By Deployment Model, 2020 (%)

Simulation Software Market
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Simulation Software Market Segment Analysis - By Deployment

Cloud deployment is growing at a highest CAGR of 20.3% in the forecast period owing to its operational flexibility and real-time deployment ease to companies compared to on-premises deployment. It also offers numerous benefits, including reduced operational costs, simple deployment process, and higher scalability in terms of connected resources. Additionally, the cost-effective cloud-based solutions ease installation when compared to the on-premises solutions. The highest level of data security and reliability offered by the cloud deployment are increasing the share of this deployment in the forecast period.

Several companies are providing solutions related to this deployment. For instance SimScale is a full-cloud CAE simulation software that helps to perform CFD, FEA, and thermal simulations for CAD models in the cloud. Similarly, AnyLogi? Cloud is a cloud-based simulation tool that allows users to run simulation models such as Finite Element Analysis and Computational Fluid Dynamics online using just a web browser and share them. Hence these benefits are analysed to drive the market growth in the forecast period 2021-2026.

Simulation Software Market Segment Analysis - By Vertical

Automotive sector is expected to witness a highest CAGR of 21.2% the forecast period. Increasing focus on R&D activities and rapid technological changes owing to the changing government norms for vehicle safety are projected to drive the market. With increasing connectivity and digitalization, OEMs are focusing on improving cybersecurity over connected vehicles & devices, which is expected to drive the automotive simulation market for software such as Finite Element Analysis and Computational Fluid Dynamics. Along with cybersecurity, rapid infrastructure development and advancements in 5G technology companies such as Nvidia, IPG automotive and so on are collaborating with several global companies for advancements in these simulation software.

In 2019, Nvidia had partnered with Toyota for autonomous vehicle simulation platform drive constellation, the cloud-based platform. This platform would enable the self-driving car developers to run tests on virtual, rather than real roads. In 2018, IPG Automotive signed a partnership agreement with Transpolis SAS to develop innovative solutions in the field of large-scale simulation. Hence these factors are anticipated to fuel the growth of the simulation software market in the forecast period 2021-2026.

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