Global simulation software market

Simulation Software Market Size, Share, Growth Analysis, By Component(Software and Services), By Deployment(On-Premise and Cloud), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45E2083 | Region: Global | Published Date: July, 2024
Pages: 157 | Tables: 59 | Figures: 75

Simulation Software Market Competitive Landscape

The competitive scenario in the simulation software market is a mix of established players and emerging innovative companies. Major players such as Siemens, Ansys, Dassault Systèmes dominate the automotive, aerospace, healthcare sectors with a division a broader customer. New entrants, meanwhile, are focusing on niche applications and cloud-based solutions, intensifying competition. The market is also seeing a hybrid of AI and machine learning, which offers the advanced modelling and predictive analytics features, and further expands the capabilities of simulation software providers.

Simulation Software Market Top Player's Company Profiles

  • ANSYS, Inc.
  • Siemens AG
  • PTC Inc.
  • Altair Engineering, Inc.
  • Dassault Systèmes SE
  • Autodesk, Inc.
  • MathWorks, Inc.
  • MSC Software Corporation
  • SimScale GmbH
  • COMSOL AB
  • Synopsys, Inc.
  • ESI Group
  • Bentley Systems, Incorporated
  • NUMECA International
  • Exa Corporation
  • Altium Limited
  • Aspen Technology, Inc.
  • AVEVA Group plc
  • Keysight Technologies, Inc.
  • Granta Design Limited

Simulation Software Market Recent Development

  • In February 2021, MathWorks and Aimotive, a provider of automotive vehicle technologies, will partner. Through the cooperation, MathWorks will be able to integrate AImotive's RoadRunner tool into its aiSim, an automotive-grade simulation platform for testing autonomous driving software from beginning to finish.
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FAQs

Simulation Software Market size was valued at USD 14.8 billion in 2019 and is poised to grow from USD 16.55 billion in 2023 to USD 40.5 billion by 2031, growing at a CAGR of 11.83% in the forecast period (2024-2031).

The competitive scenario in the simulation software market is a mix of established players and emerging innovative companies. Major players such as Siemens, Ansys, Dassault Systèmes dominate the automotive, aerospace, healthcare sectors with a division a broader customer. New entrants, meanwhile, are focusing on niche applications and cloud-based solutions, intensifying competition. The market is also seeing a hybrid of AI and machine learning, which offers the advanced modelling and predictive analytics features, and further expands the capabilities of simulation software providers. 'ANSYS, Inc.', 'Siemens AG', 'PTC Inc.', 'Altair Engineering, Inc.', 'Dassault Systèmes SE', 'Autodesk, Inc.', 'MathWorks, Inc.', 'MSC Software Corporation', 'SimScale GmbH', 'COMSOL AB', 'Synopsys, Inc.', 'ESI Group', 'Bentley Systems, Incorporated', 'NUMECA International', 'Exa Corporation', 'Altium Limited', 'Aspen Technology, Inc.', 'AVEVA Group plc', 'Keysight Technologies, Inc.', 'Granta Design Limited'

One of the major drivers of the simulation software market is the growing need for cost-effective solutions across industries. Simulation software enables businesses to perform virtual testing and analysis, reducing the cost of physical prototypes and testing methods. This is particularly valuable in areas such as aerospace, automotive, and manufacturing, where the cost of errors in physical prototypes can be significant. As companies seek to reduce operating costs, software development photography has increased. 

Expansion of Artificial Intelligence in Simulations: Artificial intelligence (AI) integration is a major trend in the simulation software market. AI-driven simulations provide predictive insights and can optimize performance in real time. This is particularly striking in industries such as healthcare and autonomous vehicles, where models must account for complex and dynamic environments. AI enables simulations, becoming more accurate and efficient, thus increasing their value to the industry. 

In 2023, North America dominated the market, with a revenue share of over 34.2%. The region is expected to remain dominant over the forecast period due to the presence of key players from the US. and Canada because of its presence. Moreover, companies in these countries have been observed to invest in research and development programs to bring technologically advanced products to the market, and the region is well known as a pioneer region of advanced technology. North America plays a dominant role in the simulation software market, driven by the region’s strong technological base, technological advancements and widespread adoption of digital technologies in the US. The north American position is further strengthened by major players such as Ansys and Autodesk increasingly relying on simulation software market and improve operational efficiency. Additionally, increasing investments in artificial intelligence (AI), cloud computing, and digital twin technologies are fuelling the growth of simulation software across industries. 

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Global simulation software market

Report ID: SQMIG45E2083

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