The global Simulation Software Market size is expected to reach USD 21.33 billion by 2025, registering a CAGR of 16.98% over the forecast period, according to a new study by Grand View Research, Inc. Simulation software is being used for training personnel. It is replacing the traditional real-time training techniques, which incurred huge investments annually for companies. The use of simulation for training purposes helps reduce training costs as companies need to make a one-time investment for software implementation.
The software also helps enterprises
minimize the production cost by enhancing the product development process. The
need for developing prototypes and the chances of product failure are
considerably reduced through the use of simulators, as the product is virtually
tested for all possible glitches before the commencement of production.
Furthermore, simulation-based tools help product developers reduce the time
spent on research & development processes as it enables them to obtain a
realistic view of a product or process under study or review.
Organizations across the globe are
increasingly implementing simulation software & analyzing tools to enhance
the entire product development cycle, reduce time to production, ensure
delivery of high-quality products in minimal time, and reduce the overall cost
to the company with respect to research & development. Simulation software
requires skilled workforce or personnel with the required knowledge and
understanding. This is leading to several manufacturers being reluctant to
adopt this technology as the need for a skilled workforce incurs additional
cost to a company.
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Software Market Report
Simulation Software Market Report
Highlights
- The simulation software market growth is being driven by reduced
training costs for personnel in various industries & sectors such as
automotive, defense, healthcare, and electrical.
- The service segment is expected to register a CAGR of more than 17%
owing to the growing demand for customized simulation solutions such as
design & consulting
- The cloud segment is expected to register the highest CAGR of
approximately 18% over the forecast period owing to benefits such as
reduced cost of implementation and ease of implementation
- The automotive segment dominated the market in 2018 and is expected
to hold a major share by 2025 owing to the early adoption of virtual
testing tools in the automotive industry
- North America is expected to account for the highest share,
followed by Asia Pacific, by 2025 owing to the growing investments in
R&D and defense in countries such as the U.S.
- The key players in the market include Altair Engineering, Inc.;
Autodesk Inc.; ANSYS, Inc.; and Dassault Systèmes.
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
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