SAN FRANCISCO, April 26, 2022 /PRNewswire/ — The Global Simulation Software Market Size is Expected to Reach $39.74 billion by 2030, registering a CAGR of 13.5% over the forecast period, according to a new study by Grand View Research, Inc. Simulation software is used for staff training. It replaces the traditional real-time training techniques, which led to huge investments for companies every year. Using simulation for training purposes helps reduce training costs because companies need to make a one-time investment for software implementation. The software also helps companies minimize production costs by improving the product development process.

Main information and conclusions of the report:

• The market is driven by the reduction in the cost of training personnel in various sectors and industries, such as automotive, defense, health and electricity.
• The services segment is expected to register a CAGR of 14.9% from 2022 to 2030 owing to the growing demand for custom simulation solutions, such as design and consulting.
• The cloud-based segment is expected to register the fastest CAGR during the forecast period owing to benefits such as easy and inexpensive implementation.
• The automotive segment dominated the market in 2021 and is expected to maintain its dominance over the forecast period owing to the early adoption of virtual testing tools in the automotive industry.
• North America is expected to account for the highest market share, followed by Asia Pacificby 2030 due to growing investments in R&D and defense in countries like the United States
• The major players are focusing on the development of new simulation software solutions, to capture maximum market share.

Read the 115-page Market Research Report, “Simulation Software Market Size, Share, and Trend Analysis Report by Component (Software, Service), by Deployment (On-Premise, Cloud), by End Use (Healthcare, Industrial), By Application and Segment Forecast, 2022 – 2030,” published by Grand View Research.

Simulation Software Market Growth and Trends

The need to develop prototypes and the risk of product failure is greatly reduced through the use of simulators, as the product is virtually tested for all possible issues before production begins. Additionally, simulation-based tools help product developers reduce time spent on R&D processes as they allow them to get a realistic view of a product or process under study or review. . Organizations around the world are increasingly implementing the program and analysis tools to improve the entire product development cycle, reduce production time, ensure the delivery of high quality products in a minimum of time and reduce the overall cost to the company in terms of R&D.

This requires skilled labor or personnel with the required knowledge and understanding. This leads several manufacturers to be reluctant to adopt this technology because the need for skilled labor leads to additional costs. The COVID-19 pandemic has had a negative impact on the global market. The closing of national and international borders in major countries, such as China, Japanand India, has caused serious supply chain disruptions. Additionally, the temporary shutdown of manufacturing operations led manufacturing companies to face serious fiscal challenges, leading to delays in subscription renewal payments during the initial phase of the pandemic. However, recovering economies and opening of businesses are expected to help the market grow at a rapid pace over the forecast period.

Simulation Software Market Segmentation

Grand View Research has segmented the global simulation software market based on components, deployment, application, end-use, and region:

Simulation Software Components Outlook (Revenue, USD Million, 2017 – 2030)

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

Simulation Software Deployment Outlook (Revenue, USD Million, 2017 – 2030)

Simulation Software Application Outlook (Revenue, USD Million, 2017 – 2030))

• Engineering, research, modeling and simulated tests
• High Fidelity Experiential 3D Training
• Games and immersive experiences
• Optimization of manufacturing processes
• AI and autonomous systems training
• Planning and logistics Management and transport
• Cyber-simulation

Simulation Software End-Use Outlook (Revenue, USD Million, 2017 – 2030)

• Residential
• Commercial
• Industrial

Flooring Adhesives End-Use Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)

• Automotive
• Aerospace and Defense
• Industrial
• petroleum gas
• Mining
• Energy and Utilities
• Others

• electronics and semiconductor
• Logistic transport
• Health care
• Others

Simulation Software Regional Outlook (Revenue, USD Million, 2017 – 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (SOUL)

List of Simulation Software Market Key Players

• Altair Engineering, Inc.
• Autodesk Inc.
• Ansys, Inc.
• Bentley Systems, Inc.
• Dassault Systems
• MathWorks, Inc.
• Rockwell Automation, Inc.
• Simulation More
• ESI Group
• ESG Systems

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About Grand View Research

Grand View Research, a US-based market research and consulting firm, provides syndicated and custom research reports and consulting services. Checked in California and whose head office is at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports offer in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.

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