NEW YORK, Jan. 5, 2024 /PRNewswire/ -- The "simulation and analysis software market by end-user (automotive, aerospace and defense, industrial manufacturing, healthcare, and others), deployment (on-premises and cloud), and geography (North America, Europe, APAC, South America, and Middle East and Africa) - Forecast and Analysis 2023-2027" report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the simulation and analysis software market between 2023 and 2027 is USD 9.68 billion. The growing demand for simulation and analysis software is a key factor driving the market growth. In a range of sectors, for example, motor vehicles and aeronautics, SAS helps to anticipate, verify, or optimize product performance with the use of precise analyses. With the use of SAS, device performance can be optimized and there is a reduced need for physical prototype components in order to reduce the risk of test failure or recall. Hence, these factors are expected to drive market growth during the forecast period.
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Market Challenge
The high costs of deployment and complex architecture of simulation technologies is a significant challenge restricting market growth. There is an urgent need to make significant investments in technology platforms, infrastructure development, and maintenance for the implementation of simulation technologies. The architecture of simulation technologies is complex, and a significant IT workforce and investment are needed to manage these complex infrastructures.
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The simulation and analysis software market has been segmented by end-user (automotive, aerospace and defense, industrial manufacturing, healthcare, and others), deployment (on-premises and cloud), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
- The market share growth by the automotive segment will be significant during the forecast period. The automobile industry consists of companies that are involved in the manufacture of motor vehicles. To comply with the new legislation, vehicle manufacturers have been integrating new technologies. SAS will be a significant player in the area of new product development, improved manufacturing processes, and increased maintenance and service capacity.
- North America is estimated to contribute 44% to the growth of the global market during the forecast period.
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Key Companies in the simulation and analysis software market:
Altair Engineering Inc., ANSYS Inc., Autodesk Inc., AVEVA Group Plc, AVL List GmbH, Bentley Systems Inc., Cesim Oy, Dassault Systemes SE, ESI Group SA, GSE Systems Inc., Hexagon AB, Honeywell International Inc., Keysight Technologies Inc., Riverbed Technology Inc., Rockwell Automation Inc., Siemens AG, Simul8 Corp., Simulations Plus Inc., Synopsys Inc., and The MathWorks Inc.
Related Reports:
The simulation software market size is estimated to grow at a CAGR of 12.94% between 2023 and 2028. The market size is forecast to increase by USD 15,989.56 million.
The simulation learning market in the higher education size is estimated to grow at a CAGR of 12.93% between 2023 and 2028. The market size is forecast to increase by USD 754.49 million.
Simulation And Analysis Software Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 14.22% |
Market growth 2023-2027 |
USD 9.68 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
12.36 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 44% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Altair Engineering Inc., ANSYS Inc., Autodesk Inc., AVEVA Group Plc, AVL List GmbH, Bentley Systems Inc., Cesim Oy, Dassault Systemes SE, ESI Group SA, GSE Systems Inc., Hexagon AB, Honeywell International Inc., Keysight Technologies Inc., Riverbed Technology Inc., Rockwell Automation Inc., Siemens AG, Simul8 Corp., Simulations Plus Inc., Synopsys Inc., and The MathWorks Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Development
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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