Digital Twin Drives Global Market Growth for Simulation Software

New ARC Advisory Group research on the Simulation Software global market reveals that this market will be driven by the emergence of comprehensive simulation platforms, the use of the digital twin concept, and the expansion of the 3D virtual simulation software. The overall simulation software market will be driven by the emergence of comprehensive simulation platforms that allow for concurrent product design and validation across the product lifecycle. Additional growth is driven by an increasing use of the digital twin concept and growth in Industrial IoT in general. Finally, the significant expansion of 3D virtual simulation software across a wide range of applications for science, industry, infrastructure, and consumers allows for the virtual validation of the physical world.

"Manufacturers across all industrial sectors should be developing a digital transformation strategy and direction for both their products and their production systems. This strategy should include both a digital twin plan for their products in the factory and the field, and the intelligent edge. The market will demand that products be both connected and smart in the digital environments that these products will be functioning and operating in. Simulation solutions will enable companies to virtually simulate, validate, and bring to market new products that meet customer demands," according to Dick Slansky, Senior Analyst and key author of ARC's Simulation Software Market Study Market Research Report.

Leading Suppliers to the Simulation Software Market Identified

In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this market and provides and summarizes their relevant offerings. An alphabetical list of key suppliers covered in this analysis includes: Ansys, Bentley Systems, Hexagon, Siemens.

About the Simulation Software Market Study Research

Simulation Software Market TrendsThe Simulation Software Market Study report explores the current and future market performance and related technology and business trends and identifies leading technology suppliers. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, plus five-year market forecasts
segmented by World Region, Industry, Application.

This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations. These include:

  • Market Intelligence Workbook (Excel Power Pivot): A standard Workbook includes the base year market data and a five-year market forecast. This workbook enables licensed users to freely manipulate the data to make it easier to analyze the latest data for business intelligence and generate custom reports.
  • Concise Market Analysis Report (PDF): This wide-screen presentation format makes it much easier to find detailed information on a market. This new format provides executives, business unit managers, and other authorized users with immediate access to in-depth market analysis, including analysis associated with every market data chart and figure. Included is an executive-level summary of the current market dynamics, five-year market forecast, and competitive analysis, plus an overview of strategic issues. The PDF is available with a comprehensive set of charts with associated analysis.

For more information on this and other available ARC market research, please visit our Market Data & Studies section.

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