Global Simulation and Analysis Software Market Forecast to Showcase a CAGR of Over 11% Through 2021: Technavio

LONDON--()--According to the latest market study released by Technavio, the global simulation and analysis software market is expected to grow at a CAGR of more than 11% during the forecast period.

This research report titled ‘Global Simulation and Analysis Software Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

The global simulation and analysis software market can be understood via its different segments – computational fluid dynamics (CFD), finite element analysis (FEA), and electromagnetic (emag). CFD is the largest segment in the market due to its advanced pre-processing methods, which includes meshing. Third-party software providers like 3DModelSpace and Al MAXTools have developed software for niche areas like visualization of particles, specific parts, and components, commonly used in machinery such as ball bearings. This has greatly helped propel market growth.

The most important drivers responsible for the growth of this market are the reduction in product design time and cost, increasing mergers and acquisitions within the industry, and a healthy growth of the smartphone industry. Analysts at Technavio forecast that these factors will push the global simulation and analysis software market to be valued at USD 6550 million by 2021.

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Based on end-users, the report categorizes the global simulation and analysis software market into the following segments:

  • Automotive Industry
  • Aerospace and defense industry
  • Electrical and electronics industry
  • Others

Automotive Industry

Advances in computing and complex code-solving programs have helped the CFD market in the automotive industry with more accurate predictions and analyses. CFD is used for all the components that interact with fluids such as lubricants, fuel, water, coolants, and exhaust gas. It is utilized in efficient windshield defogging and defrosting, climate control systems in cars, and while spray painting automobiles,” says Ishmeet Kaur, one of the lead analysts at Technavio for product lifecycle management research.

FEA is necessary in the automotive industry mainly during the design phase, to evaluate functions, structural strength, and behavior of any given design prototype. FEA has helped in the reduction of product design time, cost, and time to market for leading automotive manufacturing companies such as Toyota Motors, General Motors, Mahindra Two Wheelers, Ford Motors, and Volkswagen.

Aerospace and defense industry

To check the performance and efficiency of designed products, the aerospace and defense industry uses fast and highly efficient computers to run numerical simulation methods based on Navier-Stokes equation. This equation and the numerical simulation methods together help in building CFD solutions for the design of external aerodynamics, fuel systems, engine core compartments, missiles, cockpit and cabin ventilation, and submarines.

Emag is mainly utilized in the design and simulation of antenna and antenna placement, which is affected by several factors like harsh environmental conditions and limited space availability. Emag successfully provides solutions after factoring in all the considerations provided by the technician. The software also provides reliable models for blade antenna and for analyzing radiation pattern of mounted antennas.

Electrical and electronics industry

APAC is the largest consumer of products from the electrical and electronics industry due to the rising demand for semiconductor components, consumer durables, electronics goods, and high-technology products. In the electrical industry, CFD mainly used to conduct mechanical stress analysis, heat transfer and loss estimation, and structural analysis in electrical machines such as generators and electrical engines.

The global electrical and electronics industry relies heavily on simulation-focused product development, of which FEA is an integral part. The simulation process provides a risk-free environment for product testing, reduces the cost of development, and provides multitasking. This market segment will be driven mainly by the availability of cloud-based FEA solutions during the forecast period,” says Ishmeet Kaur.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • ANSYS
  • Dessault Systemes
  • Mentor Graphics
  • MSC Software
  • PTC
  • Siemens PLM Software

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global simulation and analysis software market is expected to grow at a CAGR of more than 11% during the forecast period.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com