Simulation Software Market is Representing 11.83% Growth by 2030

Published Date : 15 May 2024

The global simulation software market size was exhibited at USD 18.51 billion in 2023 and is estimated to grow around USD 40.5 billion by 2030, growing at a CAGR of 11.83% from 2022 to 2030. The increasing adoption of virtual prototyping is anticipated to drive the growth of the simulation software market. 

Simulation Software Market Size and Growth Rate From 2022 to 2030

Market Overview

The simulation software market deals with the usage, dissemination, and creation of software programs intended to process in a virtual setting or to limit actual systems. Various industries, such as entertainment, defense, healthcare, automotive, and aerospace, use these software solutions to simulate complex scenarios, predict outcomes, analyze performance, and test hypotheses without the need for experiments or expensive physical prototypes.

The increasing demand for training costs and the reduction of production expenditure are boosting the growth of the market. This growth is expected to the efficient usage of simulation software, which also enhances performance and reduces risks. In addition, the constant advancements in cloud technology and computing power like 3D printing, AR/VR, and Digital Twin have played an important role in enhancing the widespread integration of simulation software.

Increasing productivity to fuel the growth of the market

Increased productivity is one of the major drivers of simulation software. Businesses may cut down on job completion, automate procedures, and streamline operations by adopting simulation software. As a result, workers are more productive. Therefore, workers can complete the same activities in minimum time. Simulation software can also help reduce manufacturing costs as few resources are needed to create the same result. Simulation software may also be used to find inefficiencies and bottlenecks that can be decreased or eliminated to further boost productivity.

In addition, simulation software helps to determine the most effective way to do tasks, enabling organizations to experiment, and assessments may be carried out via simulation software. The simulation may be especially useful for complicated operations due to the ability of organizations to swiftly execute and identify the optimal solution. These are the major driving factors anticipated to enhance the growth of the simulation software market.

However, expensive and time-consuming simulations may further restrain the growth of the market. Simulation may be a time-consuming and costly procedure. To construct and design simulation software, conduct the simulation, set up the simulation environment, and expected resources are needed, such as human resources, software, and hardware. In addition, due to the complications of the simulation and the several variables that might interpret and analyze the data and impact the outcome, it can take a longer time.

Moreover, simulation software may necessitate a sufficient amount of error and trial; therefore, it can alter many parameters and be difficult to forecast to gain an accurate and dependable outcome. In the longer term, this might cost both money and time. These are the hindering factors that may negatively affect the growth of the simulation software market.

Simulation Software Market Report Scope

Report Coverage Details
Market Revenue in 2023 USD 18.51 Billion
Projected Forecast Revenue by 2030 USD 40.5 Billion
Growth Rate from 2022 to 2030 CAGR of 11.83%
Largest Market North America
Base Year 2022
Forecast Period 2022 to 2030
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Simulation Software Market Top Companies

  • Cesim
  • EmberGen JangaFX
  • Cybernet
  • ProSim
  • Stellaris
  • Simio
  • FlexSim
  • Simul8 Corporation
  • Scalable Networks
  • SimScale
  • AnyLogic
  • PTV Group
  • AProri
  • CAE
  • Certara
  • AVL List GmbH
  • Synopsys
  • Bentley Systems
  • Spirent Communications
  • Aveva
  • Keysight Technologies
  • Honeywell
  • MSC Software
  • Altair Engineering
  • Dassault Systems
  • PTC
  • Siemens AG
  • Ansys
  • Autodesk
  • MathWorks

Recent Development by EmberGen developer JangaFX

  • In February 2024, after years of countless mind-blowing teaser trailers and anticipation, EmberGen developer JangaFX launched the company’s node-based real-time fluid simulation software, LiquiGen. This innovative simulation software was available in closed alpha.

Recent Development by Stellantis

  • In January 2024, Stellantis, in partnership with BalckBerry QNX and Amazon Web Services, launched a new virtual cockpit simulator. This advanced simulator created new possibilities for software for vehicle infotainment systems and development teams designing applications.

Regional Insights

Asia Pacific is expected to grow fastest during the forecast period. The increasing adoption and awareness of simulation tools across various manufacturing facilities to test next-generation, research, model, and design automobiles and individual manufacturing procedure optimization. In addition, the rapidly increasing chip and electronic designing industry across emerging countries, including South Korea, India, Japan, and China, is anticipated to drive the growth of the simulation software market in Asia Pacific.

In China, many companies, including engineering and aviation, utilize simulation software to identify potential issues and predict performance outcomes before integrating them into the real world. These programs are made to provide a visual representation of data and accurately mimic the behavior of complex systems for easy interpretation. Chinese industries can be used for as tools or educational uses for decision-making in business settings.

There are the best simulation software in China, such as ReliaSoft, orCAD X, Predator Software, UberCloud, SprutCAM X, MIMIC Simu, Salator, DC-E DigitalClone for engineering, MATLAB, iGrafx, Maya, Simscale, Samadii Multiphysics, Solid Edge and many more. Chinese simulation software offers a range of credibility software to enhance a comprehensive set of analysis techniques and reliability engineering modeling, improvements in collaboration, data management, automation, and ease of use, and also provides an interactive evaluation, sales presentation, development, and quality assurance. These are the major factors that China’s simulation software anticipates will drive the growth of the simulation software market in Asia Pacific.

North America dominated the simulation software market in 2023. The growing expenditure on research and development activities and significant players from emerging countries are expected to drive the growth of the market in North America. The U.S. and Canada are the major emerging countries in North America. Increasing robust growth is boosted by several factors across various sectors. Some major factors, such as rising focus on training and research, increasing demand for efficient product development, and rising technological advancements, are expected to drive the market growth in the U.S. These are the major factors in the U.S. anticipated to drive the growth of simulation software market in North America.

Market Potential and Growth Opportunity

Growing intelligent simulation

With the help of artificial intelligence, simulations can be applied and analyzed to new products with the same configurations. Engineers can use the same simulations to perform intelligent selection boundary conditions for a current problem and parameters. Research has recognized the expected operational possibilities of such intelligent systems and is finding new approaches for guiding engineers even better in their daily work. The use of artificial intelligence eliminated the demand for simulation analysis prior to milling. As a result, defective components could be recognized in real time, permitting correspondingly detailed simulations to be initiated. These are the major opportunities anticipated to drive the growth of the simulation software market in the coming years.

Simulation Software Market News

  • In November 2023, in La Garde, France, Exail launched an innovative advanced Centre for software simulation and integration. This innovative and unique Centre provided a blueprint for an Adelaide-based integration reference, support, and software reference.
  • In June 2022, Keysight Technologies launched PathWave Advanced Design System, this was a simulation software and an integrated design that rapidly meets increasing higher frequencies and design complexity in the microwave industry and radio frequency. Keysight Technologies is a leading technology company that delivers validation solutions and advanced design to help accelerate innovation to secure and connect the world.

Market Segmentation

By Component

  • Software
  • Services
    • Simulation Development Services
    • Training and Support & Maintenance

By Deployment

  • Cloud
  • On-Premise

By Application

  • Engineering, Research, Modeling & Simulated Testing
  • Gaming & Immersive Experiences
  • High Fidelity Experiential 3D Training
  • AI Training & Autonomous Systems
  • Manufacturing Process Optimization
  • Planning And Logistics Management & Transportation
  • Cyber Simulation

By End Use

  • Automotive
  • Industrial
    • Oil & Gas
    • Mining
    • Energy & Utilities
    • Others
  • Electronics & Semiconductor
  • Aerospace & Defense
  • Healthcare
  • Transportation & Logistics
  • Others

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