Simulation Software Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Simulation Software Market
The simulation software market size was valued at USD 12.13 billion in 2023, and the market is now projected to grow from USD 13.44 billion in 2024 to USD 34.14 billion by 2032, exhibiting a CAGR of 12.4% during the forecast period of 2024-2032.
The COVID-19 pandemic, in its extreme, became a significant push for the development of simulation software in various sectors. With the rise of remote work, sectors such as healthcare, manufacturing and logistics began to depend more on simulation tools to improve operations and cut down on the need for physical presence which was a key factor that provided to them the ability to make better decisions. The researchers' tools were of great importance to healthcare as they were used for the modelling of the spread of viruses and the allocation of resources. In manufacturing and logistics, simulations became a tool in the adaptation of the supply chains to the unprecedented disruptions. The increase of the software's usage underpinned its usefulness in crisis management and strategic planning, hence the technological advancement and the integration of AI elements into the simulation platforms were speeded up.
The trend of the increase in the simulation software in the past years has been significant, a result of its capability to depict complicated processes and systems in various industries. Main areas such as aerospace, automotive, and healthcare have gradually included the simulation to increase the efficiency, decrease the costs, and enhance the product design and safety. This growth is supported by the now constant improvement in computing power and artificial intelligence, which allows for more accurate and quicker simulations. All of these factors are amplifying the simulation software market growth.
Furthermore, the connection of simulation software to the educational curriculums and professional training programs has doubled its use. Companies and institutions acknowledge the fact that work experience and problem-solving skills can be developed in a risk-free environment, therefore, it is, in turn, promoting the expansion of this activity.
Comprehensive Analysis of Simulation Software Market
The software market for the simulation segment can be divided into three categories namely, deployment, application, and industry. The System deployment types encompass the Cloud and On-premises options. With respect to the usage, the software is for product engineering, research & development, and gamification. Industrial used simulations software includes a variety of sectors for example, automotive, manufacturing, electronics & semiconductor, aerospace & defense, and healthcare, and there is also simulation software for education, media, and entertainment.
North America is the leader of the world's simulation software market share because of its powerful technological infrastructure, the huge amount of investment in R&D, and the fact that it has the key players in the industry. The region's dedication to innovation, most of which are in the aerospace, defense, healthcare and automotive sectors, is the reason why high demand for advanced simulation tools is present. On top of that, North American universities and research institutions are working together with the industry to provide technological advances and innovations in simulation. The presence of strong eco-system in this region helps in the development of this particular market.
The top players in the market play a crucial role in shaping the industry's growth trajectory and setting market standards. These players include: Autodesk Inc. (U.S.), ANSYS, Inc. (U.S.), Dassault Systemes (France), Altair Engineering Inc. (U.S.), The AnyLogic Company (U.S.), Flex Ltd. (Singapore), Rockwell Automation, Inc. (U.S.), Bentley Systems, Inc. (U.S.), Simulations Plus (U.S.), MathWorks, Inc. (U.S.)
In November 2023, Mitsubishi Electric Corporation signed a partnership with Visual Components. Visual components are a company based in Espoo, Finland. This collaboration was done to create a new company ME Industrial Simulation Software Corporation. This combination, created to improve and promote 3D simulation software for manufacturing applications, will result Mitsubishi Electric owning 70% of the joint venture and Visual Components owning 30% of this combination.
Segmentation Table
Attribute Details
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 12.4% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Deployment
Cloud
On-premises
By Application
Product Engineering
Research & Development
Gamification
By Industry
Automotive
Manufacturing
Electronics & Semiconductor
Aerospace & Defense
Healthcare
Others (Education, Media & Entertainment)
By Region
North America (By Deployment, By Application, By Industry, and By Country)
- U.S. (By Industry)
- Canada (By Industry)
- Mexico (By Industry)
South America (By Deployment, By Application, By Industry, and By Country)
- Brazil (By Industry)
- Argentina (By Industry)
- Rest of South America
Europe (By Deployment, By Application, By Industry, and By Country)
- U.K. (By Industry)
- Germany (By Industry)
- France (By Industry)
- Italy (By Industry)
- Spain (By Industry)
- Russia (By Industry)
- Benelux (By Industry)
- Nordics (By Industry)
- Rest of Europe
Middle East & Africa (By Deployment, By Application, By Industry, and By Country)
- Turkey (By Industry)
- Israel (By Industry)
- GCC (By Industry)
- North Africa (By Industry)
- South Africa (By Industry)
- Rest of Middle East & Africa
Asia Pacific (By Deployment, By Application, By Industry, and By Country)
- China (By Industry)
- Japan (By Industry)
- India (By Industry)
- South Korea (By Industry)
- ASEAN (By Industry)
- Oceania (By Industry)
- Rest of Asia Pacific
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Simulation Software Key Players Market Share/Ranking, 2023
- 5. Global Simulation Software Market Size Estimates and Forecasts, By Segments, 2019-2032
- 5.1. Key Findings
- 5.2. By Deployment (USD)
- 5.2.1. Cloud
- 5.2.2. On-premises
- 5.3. By Application (USD)
- 5.3.1. Product Engineering
- 5.3.2. Research & Development
- 5.3.3. Gamification
- 5.4. By Industry (USD)
- 5.4.1. Automotive
- 5.4.2. Manufacturing
- 5.4.3. Electronics & Semiconductor
- 5.4.4. Aerospace & Defense
- 5.4.5. Healthcare
- 5.4.6. Others (Education, Media & Entertainment, etc.)
- 5.5. By Region (USD)
- 5.5.1. North America
- 5.5.2. South America
- 5.5.3. Europe
- 5.5.4. Middle East & Africa
- 5.5.5. Asia Pacific
- 6. North America Simulation Software Market Size Estimates and Forecasts, By Segments, 2019-2032
- 6.1. Key Findings
- 6.2. By Deployment (USD)
- 6.2.1. Cloud
- 6.2.2. On-premises
- 6.3. By Application (USD)
- 6.3.1. Product Engineering
- 6.3.2. Research & Development
- 6.3.3. Gamification
- 6.4. By Industry (USD)
- 6.4.1. Automotive
- 6.4.2. Manufacturing
- 6.4.3. Electronics & Semiconductor
- 6.4.4. Aerospace & Defense
- 6.4.5. Healthcare
- 6.4.6. Others (Education, Media & Entertainment, etc.)
- 6.5. By Country (USD)
- 6.5.1. U.K.
- 6.5.1.1. By Industry
- 6.5.2. Canada
- 6.5.2.1. By Industry
- 6.5.3. Mexico
- 6.5.3.1. By Industry
- 7. South America Simulation Software Market Size Estimates and Forecasts, By Segments, 2019-2032
- 7.1. Key Findings
- 7.2. By Deployment (USD)
- 7.2.1. Cloud
- 7.2.2. On-premises
- 7.3. By Application (USD)
- 7.3.1. Product Engineering
- 7.3.2. Research & Development
- 7.3.3. Gamification
- 7.4. By Industry (USD)
- 7.4.1. Automotive
- 7.4.2. Manufacturing
- 7.4.3. Electronics & Semiconductor
- 7.4.4. Aerospace & Defense
- 7.4.5. Healthcare
- 7.4.6. Others (Education, Media & Entertainment, etc.)
- 7.5. By Country (USD)
- 7.5.1. Brazil
- 7.5.1.1. By Industry
- 7.5.2. Argentina
- 7.5.2.1. By Industry
- 7.5.3. Rest of South America
- 8. Europe Simulation Software Market Size Estimates and Forecasts, By Segments, 2019-2032
- 8.1. Key Findings
- 8.2. By Deployment (USD)
- 8.2.1. Cloud
- 8.2.2. On-premises
- 8.3. By Application (USD)
- 8.3.1. Product Engineering
- 8.3.2. Research & Development
- 8.3.3. Gamification
- 8.4. By Industry (USD)
- 8.4.1. Automotive
- 8.4.2. Manufacturing
- 8.4.3. Electronics & Semiconductor
- 8.4.4. Aerospace & Defense
- 8.4.5. Healthcare
- 8.4.6. Others (Education, Media & Entertainment, etc.)
- 8.5. By Country (USD)
- 8.5.1. U.K.
- 8.5.1.1. By Industry
- 8.5.2. Germany
- 8.5.2.1. By Industry
- 8.5.3. France
- 8.5.3.1. By Industry
- 8.5.4. Italy
- 8.5.4.1. By Industry
- 8.5.5. Spain
- 8.5.5.1. By Industry
- 8.5.6. Russia
- 8.5.6.1. By Industry
- 8.5.7. Benelux
- 8.5.7.1. By Industry
- 8.5.8. Nordics
- 8.5.8.1. By Industry
- 8.5.9. Rest of Europe
- 9. Middle East & Africa Simulation Software Market Size Estimates and Forecasts, By Segments, 2019-2032
- 9.1. Key Findings
- 9.2. By Deployment (USD)
- 9.2.1. Cloud
- 9.2.2. On-premises
- 9.3. By Application (USD)
- 9.3.1. Product Engineering
- 9.3.2. Research & Development
- 9.3.3. Gamification
- 9.4. By Industry (USD)
- 9.4.1. Automotive
- 9.4.2. Manufacturing
- 9.4.3. Electronics & Semiconductor
- 9.4.4. Aerospace & Defense
- 9.4.5. Healthcare
- 9.4.6. Others (Education, Media & Entertainment, etc.)
- 9.5. By Country (USD)
- 9.5.1. Turkey
- 9.5.1.1. By Industry
- 9.5.2. Israel
- 9.5.2.1. By Industry
- 9.5.3. GCC
- 9.5.3.1. By Industry
- 9.5.4. North Africa
- 9.5.4.1. By Industry
- 9.5.5. South Africa
- 9.5.5.1. By Industry
- 9.5.6. Rest of MEA
- 10. Asia Pacific Simulation Software Market Size Estimates and Forecasts, By Segments, 2019-2032
- 10.1. Key Findings
- 10.2. By Deployment (USD)
- 10.2.1. Cloud
- 10.2.2. On-premises
- 10.3. By Application (USD)
- 10.3.1. Product Engineering
- 10.3.2. Research & Development
- 10.3.3. Gamification
- 10.4. By Industry (USD)
- 10.4.1. Automotive
- 10.4.2. Manufacturing
- 10.4.3. Electronics & Semiconductor
- 10.4.4. Aerospace & Defense
- 10.4.5. Healthcare
- 10.4.6. Others (Education, Media & Entertainment, etc.)
- 10.5. By Country (USD)
- 10.5.1. China
- 10.5.1.1. By Industry
- 10.5.2. India
- 10.5.2.1. By Industry
- 10.5.3. Japan
- 10.5.3.1. By Industry
- 10.5.4. South Korea
- 10.5.4.1. By Industry
- 10.5.5. ASEAN
- 10.5.5.1. By Industry
- 10.5.6. Oceania
- 10.5.6.1. By Industry
- 10.5.7. Rest of Asia Pacific
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Autodesk Inc.
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. ANSYS, Inc.
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. Dassault Systemes
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Altair Engineering Inc.
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. The AnyLogic Company
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. Flex Ltd.
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. Rockwell Automation, Inc.
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Bentley Systems, Inc.
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Simulations Plus
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. MathWorks, Inc.
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
- 12. Key Takeaways
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