Simulation And Analysis Software Market To Expand At 11.9% CAGR 2016-2020, Driven By Rising Adoption Of PLM Software

MarketResearchReports.biz has announced the addition of a report, titled “Global Simulation And Analysis Software Market 2016-2020.” According to the report, the global simulation and analysis software market is expected to expand at a CAGR of 11.9% between the period 2016 and 2020. The report covers the market’s competitive landscape and its growth prospects over the years. A comprehensive overview of the global simulation and analysis software market, including its definition, specifications, classification, application, and industry chain structure, is presented in the report.

Simulation software and analysis software is a major segment of product life cycle management (PLM) software. Customers need simulation and analysis tools to be able to achieve lasting benefits of PLM software. Simulation software is based on the process of modeling a real phenomenon with a set of mathematical formulas. The software is used in the designing of equipment so as to ensure that the final product is as close to design specs as is possible without a modification in the process.

The global simulation and analysis software market is driven by an increased adoption of PLM software. The heightened demand for simulation and analysis software from end user industries such as defense, aerospace, and automotive is driving the global simulation and analysis software market. The high demand for integration with computer-aided design (CAD) is also boosting the simulation and analysis software market. However, the market is threatened by the availability of open-source software. Nevertheless, the use of simulation software to develop Internet of Things (IoT) supporting devices is expected to open new doors of opportunities for the market players.

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The global simulation and analysis software market is segmented on the basis of product, end-user, and geography. On the basis of product, the global simulation and analysis software market is segmented into CFD, FEA, and Emag. The FEA software segment is currently leading by accounting for a share of 50% in the global simulation and analysis software market.

On the basis of end user industry, the market is segmented into automotive, electric and electronics, industrial machinery, and defense. Of these, the automotive and electrical and electronics industries collectively accounted for 52% of the global simulation and analysis software market in 2015. The rising need for the efficient functioning of electronic systems in both the aforementioned industries is expected to foster investments in the R&D of simulation and analysis software. The investment in R&D will lead to newer and more efficient simulation and analysis software, which in turn will drive the market.

Leading vendors profiled in the report include: ANSYS, Autodesk, MSC Software, Computational Engineering International, CD-adapco, Siemens PLM Software, Mentor Graphics, ltair Engineering, AspenTech, Bentley Systems, and Dassault Systmes.

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