Globally, the market is predicted to generate massive revenue over next seven years, providing numerous opportunities for market players to invest for research and development in the simulation and analysis software market.
(businesspress24) - The global simulation and analysis software market is subject to witness a substantial growth due to the rapid growth of automotive industry, adoption of advanced technology during manufacturing activities. Simulation and analysis software helps to reduce production and operational cost during production of vehicles.
In addition, favorable government laws & regulation and numerous promotional activities are expected to fuel the growth of the market over the forecast period. Globally, the market is predicted to generate massive revenue over next seven years, providing numerous opportunities for market players to invest for research and development in the simulation and analysis software market.
Moreover, increasing demand for simulation and analysis software from aerospace & defense sector is expected to foster market expansion in the near future. Simulation and analysis software helps to design and test highly complex aircraft parts. Additionally, necessary reduction in aircraft weight & composite materials, fuel coupling piping fatigue analysis, and airworthiness analysis of engine systems are performed with the help of simulation and analysis software. It also assist in understanding rotor dynamics and performing nacelle meshing analysis, thus strengthening market growth in the years to come.
Increasing demand for simulation and analysis software market from automotive industry is expected to offer numerous growth opportunities for industry players over the next seven years. Factors responsible for sustained market growth, in the recent years, include large number of production lines in automotive manufacturing from Asia Pacific region and rising number of vehicles sales each year across the globe. Additionally, increasing investment by leading industry players to promote adoption of advanced vehicle simulation systems is expected drive the growth of the market over the forecast period. Increasing vehicle manufacturing in the Asia-Pacific region and growing penetration of automotive sector in both developing and developed economies are predicted to foster market expansion in the upcoming years.
The market is broadly categorized into three major segments based on the application type such as automotive industry, electrical and electronics industry, and aerospace and defense industry. The automotive industry is considered as one of the fastest growing segment in the market with substantial revenue generation in the last few years. Growing popularity of simulation and analysis software market in the automotive segment is attributed to the reduction in time & costs during product designing.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in automotive & defense sector, increase in the number of research & development activities in the region and existence of well-established IT infrastructure. Asia-Pacific region is predicted to hold major market share in the simulation and analysis software market with massive growth in forecast period.
Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth in the region, rapid growth of automotive sector, and significant investment by leading industry players considering potential growth opportunities in the region. The key players in the simulation and analysis software market are ANSYS, Inc., The MathWorks, Inc., Siemens PLM Software Co., Dassault Syst
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Date: 06/18/2019 - 12:36
Language: English
News-ID 1550000
Character count: 3734
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Freigabedatum: 18.06.2019
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