Market Snapshot

Study Period:

2018-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

Key Players:

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Simulation Software Market

The simulation software market was valued at USD 7.16 billion in 2018, and it is expected to reach USD 16.69 billion, by 2024. The market is expected to witness a CAGR of 15.14% during the forecast period (2019 - 2024). Simulation software provides a rich training experience to the user for various end-user applications, without using any physical asset and loss to the company. This is a key factor expected to boost market growth over the forecast period.

Simulation software is primarily a replica based on the design of a real-life scenario incorporated with a specific set of mathematical formulas. It enables a user to observe the operation of a process by running a replicated simulation without actually implementing the program in actual.
The integration and usage of 3D printing in various manufacturing processes is witnessing increased adoption across the world. However, during the process, some distortion may occur, due to which the major firms using the technology are investing in new simulation software solutions to understand and make the process distortion free.
Also, due to its advantageous characteristics, simulation software is also widely used in education and research segment. This is also expected to boost industry growth over the forecast period.
Moreover, creating real-time simulation scenarios saves a lot of money and takes a lot less time to execute, which can encourage and enhance the core business competencies. This is expected to have a positive impact on the market growth.

Scope of the Report

Simulation is the imitation of the operation of a real-world process or system. The act of simulating something first requires a mathematical model to be developed. This replicated model represents the key characteristics of the physical process. The model basically represents the system itself, whereas the simulation software runs the operation of the system over time.

By Deployment Type
		On-premise
		Cloud

By End-user Industry
		Automotive
		IT and Telecommunication
		Aerospace and Defense
		Energy and Mining
		Education and Research
		Electrical and Electronics
		Other End-user Industries

Geography
		North America
		Europe
		Asia-Pacific
		Latin America
		Middle East & Africa

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Key Market Trends

Automotive Segment to Witness High Growth

The automotive industry across the world is witnessing a paradigm shift in terms of adopting various advanced technologies in its value chain. The macro-trends, such as the emergence of autonomous vehicles and the constant drive for more efficient and electric vehicles have majorly influenced the increased demand for simulations in the automotive sector. While the traditional demand in vehicle simulations continues to grow and gain general acceptance throughout the industry.
Moreover, with the aid of simulation software, manufacturers are also testing multiple variants of the vehicle. These tests are done to assess all possible driving situations and terrains, even before the existence of the prototype of the car. In September 2018, BMW built a huge hi-tech driving simulation center in its Munich headquarters.
The increased R&D expenditure in the automotive industry and the emergence of autonomous vehicles and electric vehicles indicates that the simulation software market is poised to grow further.

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North America Occupies the Largest Market Share

With the growing number of SME units in the region, coupled with the increasing focus on research and development activities in North America, the market is expected to witness significant growth over the forecast period.
In addition, the governments in the North American region are constantly focusing on innovation and investment for a greener work environment. The regulations associated with the eco-friendly work environment are becoming stringent in the region and as a result, companies are adopting simulators to test product viability before manufacturing it.
Also, the smart city initiatives taken by the government in this region have positively impacted the adoption trend of the simulation and analysis technology to enhance the monitoring and improve the surveillance.

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Competitive Landscape

The simulation software market appears to be highly competitive with the presence of many domestic and international players in the market. The market is moderately concentrated moving towards the fragmented stage in the near future. The key strategies adopted by the major players in the market are product innovation, mergers, and acquisitions, partnerships. Some of the major players in the market are Siemens AG, Rockwell Automation Inc., Schneider Electric SE, among others.

June 2018: Mathworks launched a predictive maintenance toolbox under MATLAB product, which helps the engineers test and design predictive maintenance and condition monitoring algorithm.
November 2018: Siemens launched a new simulation software (Simcenter 3D AM Process Simulation) to predict distortion during 3D printing. The product utilizes a digital twin to simulate the process prior to commencing printing, which, in turn, helps in anticipating distortion and compensating through a corrected geometry.

Major Players

* Complete list of players covered available in the table of contents below

1. INTRODUCTION
1. 1.1 Study Deliverables
2. 1.2 Study Assumptions
3. 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
1. 4.1 Market Overview
2. 4.2 Introduction to Market Drivers and Restraints
3. 4.3 Market Drivers
  1. 4.3.1 Increasing Demand for Real-time Training
4. 4.4 Market Restraints
  1. 4.4.1 High Complexity in Operation and Requirement of Skilled Workforce
5. 4.5 Industry Attractiveness - Porter's Five Forces Analysis
  1. 4.5.1 Threat of New Entrants
  2. 4.5.2 Bargaining Power of Buyers/Consumers
  3. 4.5.3 Bargaining Power of Suppliers
  4. 4.5.4 Threat of Substitute Products
  5. 4.5.5 Intensity of Competitive Rivalry
5. TECHNOLOGY SNAPSHOT
6. MARKET SEGMENTATION
1. 6.1 By Deployment Type
  1. 6.1.1 On-premise
  2. 6.1.2 Cloud
2. 6.2 By End-user Industry
  1. 6.2.1 Automotive
  2. 6.2.2 IT and Telecommunication
  3. 6.2.3 Aerospace and Defense
  4. 6.2.4 Energy and Mining
  5. 6.2.5 Education and Research
  6. 6.2.6 Electrical and Electronics
  7. 6.2.7 Other End-user Industries
3. 6.3 Geography
  1. 6.3.1 North America
  2. 6.3.2 Europe
  3. 6.3.3 Asia-Pacific
  4. 6.3.4 Latin America
  5. 6.3.5 Middle East & Africa
7. COMPETITIVE LANDSCAPE
1. 7.1 Company Profiles
  1. 7.1.1 Altair Engineering Inc.
  2. 7.1.2 The MathWorks Inc.
  3. 7.1.3 Autodesk Inc.
  4. 7.1.4 Cybernet Systems Corp.
  5. 7.1.5 Bentley Systems Incorporated
  6. 7.1.6 PTC Inc.
  7. 7.1.7 CPFD Software LLC
  8. 7.1.8 Design Simulation Technologies Inc.
  9. 7.1.9 Synopsys Inc.
  10. 7.1.10 Siemens AG
  11. 7.1.11 Ansys Inc.
  12. 7.1.12 The 3DEXPERIENCE Company (Dassault Systèmes)
  13. 7.1.13 SolidWorks Corporation
  14. 7.1.14 Rockwell Automation Inc.
  15. 7.1.15 Schneider Electric SE
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS