Simulation & Analysis Software Market to Surpass $8 Billion by 2022: TechSci Research Report
Simulation & Analysis Software Market
According to TechSci Research report, “Global Simulation & Analysis Software Market By Product Type, By End Use Industry, Competition Forecast & Opportunities, 2012 – 2022”, the global simulation & analysis software market is projected to cross $ 8 billion by 2022 on account of growing automotive market, adoption of advanced technology for reducing production and operational cost coupled with augmenting government support are anticipated to fuel demand for simulation & analysis software across the globe during the forecast period. Moreover, escalating sales of vehicles coupled with booming production and expanding use of simulation & analysis software in aerospace & defense sector for designing highly complex aircraft parts, reducing aircraft weight & composite materials, fuel coupling piping fatigue analysis, airworthiness analysis of engine systems, rotor dynamics, nacelle meshing analysis, etc., are further likely to strengthen the market in the coming years.
Browse 90 market data Tables and 171 Figures spread through 284 Pages and an in-depth TOC on
"Global Simulation & Analysis Software Market"
In 2016, ‘finite element analysis’ captured a lion’s share in global simulation & analysis software market owing to growing application of software in various end use industries including automotive, aerospace & defense, etc., and the segment is anticipated to maintain its dominance over the coming years. The second largest share was held by ‘computational fluid dynamics’ due to its usefulness in designing and analyzing energy efficient devices like HVAC systems, thermal power plants, etc., besides allowing engineers and scientists to perform computer simulations or numerical experiments in a ‘virtual flow laboratory’. Automotive industry grabbed the largest pie in the global simulation & analysis market in 2016 on the back of growing R&D activities and fast evolving smart car concept. Some of the leading players operating in the market include ANSYS, Inc., The MathWorks, Inc., Siemens PLM Software, Dassault Systèmes SE, Altair Engineering, Inc., etc.
“Rising number of small & medium enterprises (SMEs), proliferating use of simulation software to develop IoT supporting devices coupled with growing research & development by the manufacturing companies in order to enhance the productivity are expected to propel the global simulation and analysis software market during 2017 - 2022. Besides that, augmenting competition and surging availability and high demand for integration with computer-aided design towards designing innovative products is likely to boost demand for simulation & analysis software through 2022.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Simulation & Analysis Software Market By Product Type, By End Use Industry, Competition Forecast & Opportunities, 2012 – 2022” has evaluated the future growth potential of global simulation & analysis software market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global simulation & analysis software market.
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