Press release
Simulation Software Market Expansion Continues, with Forecast Valuation of $35.9 Billion by 2029
Simulation Software
Simulation Software Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market for simulation software has seen substantial expansion in recent years. The forecast projects that it will rise from $17.97 billion in 2024 to $20.06 billion in 2025, with a compound annual growth rate (CAGR) of 11.7%. Factors like training and skill development, risk management, product design and prototyping, medical research and training, efficiency, and cost savings have significantly contributed to the growth during the historic period.
Simulation Software Market Size Forecast: What's the Projected Valuation by 2029?
Rapid expansion is anticipated in the simulation software market size in the upcoming years, with projections reaching $35.9 billion in 2029, courtesy of a compound annual growth rate (CAGR) of 15.7%. The growth during the projected period can be accredited to factors such as digital twin technology, the emergence of virtual reality (VR) and augmented reality (AR), cross-industry applications, remote work and collaboration and advances in healthcare simulation. Noteworthy trends for the forecast period incorporate cross-disciplinary simulation platforms, real-time simulation for quick prototyping, simulation for cybersecurity education, human-in-the-loop simulation, along with a focus on sustainability and environmental simulation.
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What Are the Drivers Transforming the Simulation Software Market?
The growth of the simulation software market is being propelled by the emergence of autonomous vehicles. Autonomous vehicles, which can detect their environment and function without human assistance, utilise simulation software for product and solution design, validation, and optimisation. To illustrate, the General Office of Shanghai Municipal People's Government released a plan in 2023 to enhance its autonomous driving investments and innovations, with an optimistic outlook that self-driving cars would escalate into a $72 billion industry by 2025. As a result, the simulation software market is anticipated to be stimulated by the progression of autonomous vehicles.
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What Long-Term Trends Will Define the Future of the Simulation Software Market?
Trend 1: A significant trend in the simulation software market is the progression of technology. The main players in this market are focusing on developing innovative technologies that incorporate machine learning to construct authentic training and test settings for implementation. For example, Ansys, an engineering simulation software firm based in the U.S., developed a machine learning-based partial differential equation solving system in January 2022. This novel solution demands less training data while upholding the same level of precision, leading to a faster and more efficient simulation.
Which Segments in the Simulation Software Market Offer the Most Profit Potential?
The simulation softwaremarket 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
Subsegments:
1) By Software: Simulation Platforms, Modeling Tools, Analysis And Visualization Software
2) By Services: Consulting Services, Integration And Deployment, Support And Maintenance
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Which Firms Dominate the Simulation Software Market by Market Share and Revenue in 2025?
Major companies operating in the simulation software market include 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., 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
Which Regions Offer the Highest Growth Potential in the Simulation Software Market?
North America was the largest region in the simulation software market in 2024. The regions covered in the simulation software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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