Global Simulation Software Market to Grow at 10.8% during 2025-2033, Impelled by Growing Popularity of Autonomous and Electric Vehicles

November 13, 2024 | Technology & Media

The latest report by IMARC Group, titled “Simulation Software Market Report by Component (Software, Service), Deployment (On-premises, Cloud-based), End Use (Automotive, Aerospace and Defense, Electrical and Electronics, Industrial Manufacturing, Healthcare, and Others), and Region 2025-2033,” finds that the global simulation software market reached a value of USD 16.6 Billion in 2024. Simulation software enables companies to observe an operation or test the efficiency of several processes. It allows examining the modified or original system with several inputs and tracking responses. It also offers numerous benefits, including reducing the overall expenditure and minimizing costs incurred on training. As a result, simulation software finds extensive applications in the aerospace and defense, and automotive sector across the world.

Global Simulation Software Market Trends:

The market is primarily driven by the rising popularity of autonomous and electric vehicles (EVs). The manufacturers of such vehicles utilize simulation software to evaluate their effectiveness and efficiency using real-world situations. Apart from this, the software is extensively utilized to develop prototypes and test them virtually to avoid the production of faulty products. Moreover, simulation software saves the time spent on research and development (R&D) activities, thereby contributing to market growth. Besides this, there has been a significant rise in expenses incurred on prototypes and curbing faults of the existing products. As a result, simulation software is widely used to reduce the need for manually testing multiple prototypes and minimizing the chances of product failure. Furthermore, key players are investing in emerging technologies based on artificial intelligence (AI), which is anticipated to accelerate the demandfor simulation software in the upcoming years.Looking forward, the market value is projected to reach USD 41.8 Billion by 2033, expanding at a CAGR of 10.8% during 2025-2033.

Market Summary:

Based on the component, the market has been bifurcated into software and service.
On the basis of deployment, the market has been segregated into on-premises and cloud-based.
The market has been categorized based on the end use into automotive, aerospace and defense, electrical and electronics, industrial manufacturing, healthcare, and others.
Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Russia, Spain and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
The competitive landscape of the market has also been examined, with some of the key players being Altair Engineering Inc., Ansys Inc., Autodesk Inc., Bentley Systems Incorporated, Dassault Systèmes, PTC Inc., Rockwell Automation Inc., Siemens AG, Simul8 Corporation, The AnyLogic Company, and The MathWorks Inc.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Component, Deployment, End Use, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Altair Engineering Inc., Ansys Inc., Autodesk Inc., Bentley Systems Incorporated, Dassault Systèmes, PTC Inc., Rockwell Automation Inc., Siemens AG, Simul8 Corporation, The AnyLogic Company and The MathWorks Inc.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Simulation Software Market to Grow at 10.8% during 2025-2033, Impelled by Growing Popularity of Autonomous and Electric Vehicles

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