[FURL=https://www.industryarc.com/Research/Simulation-Software-Market-Research-500917]Simulation Software Market[/FURL] Size is forecast to reach $16.83 billion by 2025, after growing at a CAGR of 16.23% during 2020-2025. Adoption of simulation software in aerospace, defense and automobile industries with the development of modern aircrafts, 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 set to drive industry 4.0, thereby driving the simulation software market growth. Moreover, entry of new players in developed and developing economies will further enhance the overall market demand for Simulation Software during the forecast period 2020-2025.Key Takeaways
North America dominates the Simulation Software market owing to high number of players and significant investment in adopting new technologies such as AI.
Acquisitions and partnerships in this sector has helped the companies in developing new software and expansion into various countries has boosted the market growth.
Finite element analysis segment holds the major share owing to high adoption in industrial manufacturing sector. High adoption of electromagnetic simulation software in industrial applications in order to solve a broad range of electromagnetic problems from static to low and high frequencies.
Integration of software with Artificial Intelligence (AI) technology is set to boost the Simulation Software market demand.
Request for Sample of the Report @ [FURL]https://www.industryarc.com/pdfdownload.php?id=500917[/FURL]
Geography - Segment Analysis
North America dominated the Simulation Software market with a share of around 34%, followed by Europe and APAC. The growing number of small and medium scale (SME) enterprises in the region coupled with the rising focus on research and development activities is set to drive the market. As the major number of players headquartered in this region and the entry of new players in this region also creates opportunities for the simulation software market share in the North American region.
Drivers – Simulation Software Market
Rising demand for simulation software in applications such as automobile, electrical and electronics, industrial manufacturing and others
Integration of Artificial Intelligence (AI) technology
Market Landscape: Technology launches, acquisitions, partnerships and R&D activities are key strategies adopted by players in the Simulation Software market. In 2018, the market of Simulation Software has been consolidated by the top five players – Altair Engineering, Bentley Systems, Siemens PLM Software, Mathworks, Ansys Inc and Autodesk Inc among others.
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.