Simulation Software Market Size 2021-2030, Trends and Growth Factors and Details for Business Development

In a recent published report, Kenneth Research has updated the market report for Simulation Software Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Simulation Software Market products

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The Simulation Software Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe’s organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.

Synopsis of Simulation Software Market

Market Scenario

A simulation software helps in predicting, validating and optimizing the products using accurate analysis that can be trusted. Simulation software deals with modeling a real phenomenon with a set of mathematical formulas. It also enables the users to observe an operation through simulation without actually performing the operation, which helps solve real world problems, efficiently. Simulation modeling provides valuable solutions by giving clear insights into complex systems and is increasingly being used across industry verticals and disciplines.

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Major factors driving the growth of simulation software market is the growth of e-commerce industry and growing dependence of enterprises on web-based solutions and services. Also, the growing number of small and medium enterprise units is expected to drive the growth of global simulation software market. Increasing demand for eco-friendly work environment is one major factor driving the growth of global simulation software market. With the advent of industrial IoT, and the rise of digital twins in the industry 4.0, the growth of global simulation software market is anticipated.

Altair Engineering, Bentley Systems, Ansys, Inc., PTC, Siemens PLM Software, Autodesk, Inc., CPFD Software, Cybernet Systems Co. Ltd. and Dassault Systemes are a few major players in the global simulation software market. Increasing adoption of simulation software solutions in industrial applications is boosting the market growth. This is owing to the increase in demand for innovation and products with improved quality. Also, increasing focus on research and development activities is further fuelling the market growth.

The North America region holds the largest share of the market across the globe followed by Europe, and Asia Pacific region. U.S. and Canada are dominating the North America market due to rising technological enhancements and growing adoption of simulation software solutions in the region. Moreover, the region has a well-established infrastructure, which allows faster implementation of advanced technologies. Additionally, the growing adoption of simulation software solutions across industry verticals such as healthcare and manufacturing is another major factor driving the growth of the simulation software market in the region.Global simulation software market is expected to grow at 16% CAGR during the forecast period 2017-2023.

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Key Players

Some of the key players in the market are Altair Engineering (U.S.), Bentley Systems (U.S.), Ansys, Inc. (U.S.), PTC (U.S.), Siemens PLM Software (U.S.), Autodesk, Inc. (U.S.), and CPFD Software (U.S.). Cybernet Systems Co. Ltd. (U.S.), Dassault Systemes (France), Design Simulation Technologies, Inc. (U.S.), Synopsys, Inc. (U.S.), and MathWorks, Inc. (U.S.) are among others.


The global simulation software market is segmented by component, deployment, application and vertical. On the basis of component, the market is segmented into software and services. The services segment is further classified into design & consulting and support & maintenance. On the basis of deployment, the market is segmented into cloud and on premise. Based on the application, the market is segmented into eLearning, training and research & development and others. Whereas, based on vertical, the market is segmented into automobile, aerospace and defense, electrical and electronics, industrial manufacturing, healthcare, education & research and others

Regional Analysis

The global simulation software market is studied in Asia Pacific, North America, Europe, and Rest of the World. North America is estimated to account for the largest share of the market, whereas Asia Pacific is projected to grow at the fastest rate during the forecast period. The growth of the market in North America is attributed to technological advancements, and increased adoption of simulation software applications across small and medium enterprises.

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Intended Audience

Technology Investors

Research/Consultancy Firms

Government Bodies

Consulting Service Providers

Technology Providers

System Integrators

Software Vendors

Simulation and Analysis Vendors

Application Developers

System Integrators

Application End Users

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