The Simulation Software Global Market Report 2023 by The Business Research Company, provides simulation software market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Simulation Software Global Market Report 2023, the global simulation software market size is expected to grow from $14.27 billion in 2022 to $16.22 billion in 2023 at a compound annual growth rate (CAGR) of 13.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global simulation software market size is expected to grow to $26.76 billion in 2027 at a CAGR of 13.3%.
The development of autonomous vehicles is driving the growth of the simulation software market. An autonomous vehicle is a vehicle that can sense its surroundings and functionwithout human intervention. Simulation software help in the development of autonomous vehicles through the validation, designing, and optimization of products and solutions.
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The simulation software market is segmented:
1) By Component: Software, Services
2) By Application: Product Engineering, Research And Development, Gamification
3) By Deployment: On-Premises, Cloud
4) By End-user Industry: Automotive, IT And Telecommunication, Aerospace And Defense, Energy And Mining, Education And Research, Electrical And Electronics, Other End-User Industries
Technological advancement is a key trend in the simulation software market. Major market players are concentrating on creating innovative technologies integrated with machine learning for building realistic training and test environments for deployment. For instance, in January 2022, Ansys, a US-based engineering simulation software company, developed its machine learning-based partial differential equation solver. The new solution enables training with far less training data while maintaining the same degree of accuracy, resulting in a quicker, more effective simulation.
The simulation software market report table of contents includes:
1. Executive Summary
2. Simulation Software Market Characteristics
3. Simulation Software Market Trends And Strategies
4. Simulation Software Market – Macro Economic Scenario
5. Simulation Software Market Size And Growth
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26. Africa Simulation Software Market
27. Simulation Software Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Simulation Software Market
29. Simulation Software Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Autodesk Inc
- Ansys Inc
- Bentley Systems
- Dassault Systèmes SE
- MathWorks Inc
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