ARC Advisory Group’s research on the Simulation Software global market reveals that this market will be driven by the emergence of comprehensive simulation platforms that allow for concurrent product design and validation across the product lifecycle. Increased use of finite element analysis and manufacturing adoption due to COVID-19 policies, digital twin growth, and Industrial IoT expansion will drive additional growth. Finite element analysis (FEA) and structural analysis, together with multi-physics simulation, represent 30 percent of total revenue, making them the most popular applications according to ARC‘s simulation market research. The widespread use of 3D virtual simulation software across various fields enables virtual validation of the physical world.
“Manufacturers across all industrial sectors should develop 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 require products to be both connected and intelligent within the digital environments in which they operate. Simulation solutions will enable companies to virtually simulate, validate, and bring to market new products that meet the demands of their customers,” according to Mohan Krishna, Research Analyst and key author of ARC's Simulation Software Market Research.
Simulation Software Market Trends
In addition to providing detailed competitive market share data, the research also addresses key market trends as follows:
- Rising Demand for EVs
- Generative AI Is Rapidly Transforming the Landscape of Simulation Software
- Growing Demand for Edge Technology
- Adoption of Artificial Intelligence and Machine Learning for Simulation Software
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: Altair Engineering, Ansys, Dassault Systemes, Mathworks, Siemens.
About the Simulation Software Research
The Simulation Software research 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, five-year market forecasts, and three years of historical analysis. The segmentation includes Industry, World Region, Revenue Category, Application, Software Revenues by Type, Overall Scope.
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