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Simulation Software Market 2024-2033: Latest Trends, Recent Developments, Growth Strategy And Major Players
Simulation Software Market
As per the report, the simulation software market size has grown rapidly in recent years. It will grow from $16.21 billion in 2023 to $18.36 billion in 2024 at a compound annual growth rate (CAGR) of 13.3%. The simulation software market size is expected to see rapid growth in the next few years. It will grow to $31.06 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%.
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Autonomous Vehicles Propel The Simulation Software Market To New Heights
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 function without human intervention. Simulation software helps in the development of autonomous vehicles through the validation, designing, and optimization of products and solutions. For instance, in 2023, the General Office of Shanghai Municipal People's Government issued a plan to increase its investments in and advancements in autonomous driving. They want to increase their investments in self-driving cars, believing that they will grow to be a $72 billion business by 2025. Hence, the development of autonomous vehicles is expected to propel the growth of the simulation software market.
Technological Advancements Shaping The Landscape Of Simulation Software
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 covered in this report 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
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Major companies operating in the simulation software market report are Amazon.com Inc., Microsoft Corporation, Siemens AG, International Business Machines Corporation (IBM), Oracle Corporation, SAP SE, Rockwell Automation Inc., Dassault Systèmes SE, Keysight Technologies Inc., Autodesk Inc., DNV GL AS, Ansys Inc., PTC Inc., Unity Technologies Inc., AVEVA Group plc, MathWorks Inc., The MathWorks Inc., Bentley Systems Incorporated, Altair Engineering Inc., Lanner Group Ltd., MSC Software Corporation, ESI Group SA, COMSOL Inc., Simulations Plus Inc., GSE Systems Inc., AnyLogic North America LLC, Cybernet Systems Corporation, Tecplot Inc., Simul8 Corporation, OpenFOAM Foundation
Contents of the report:
1. Executive Summary
2. Simulation Software Market Report Structure
3. Simulation Software Market Trends And Strategies
4. Simulation Software Market - Macro Economic Scenario
5. Simulation Software Market Size And Growth
…..
27. Simulation Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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