Simulation and Analysis Software Market to grow by USD 9.68 billion from 2022 to 2027, Growth Driven by the growing demand for simulation and analysis software - Technavio

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. 

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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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