The global simulation software market is anticipated to grow at a CAGR of 15.6% during the forecast period (2024-2031). The rising funding by private and public institutions for the development of simulation software to better understand complex condition in real-time by using limited resources is driving the growth of global simulation software market. In July 2021, Mindtech Global, developer of end-to-end synthetic data creation platform (3D simulation of a lost child in a busy parking lot for training AI vision systems) has raised $3.3 million in its funding round led by NPIF.
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In the same month, researchers at University College London (UCL) have won grant of $2.7 million from the Engineering and Physical Sciences Research Council (EPSRC) to advance the capacity and reliability of exascale computing, which allows scientists to perform massive simulations and data analyses. Moreover, in June 2021, the Department of Energy (DOE) announced to invest $65 million in public and private funding to commercialize promising energy technologies. This funding has included $4.1 million grant to the Argonne National Laboratory for the development of industrial simulation. The increasing in funding for development of simulation software is making considerable contribution to the growth of the global simulation software market.
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Market Coverage
- Segment Covered-
o By Deployment Type
o By End-User Industry
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Dassault Syste?mes SE, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, SolidWorks Corp., Synopsys Inc.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Simulation Software Market Report Segment
By Deployment Type
- On-Premise
- Cloud
By End-User Industry
- Automotive
- Healthcare
- Aerospace & Defense
- Electrical & Electronics
- Other (IT & Telecom, Education & Research)
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