Composite Simulation Software Market is Likely to be Worth US$ 76.8 Million in 2023, Says a Study From a Leading Market Intelligence Company Stratview Research

DETROIT, August 8, 2018 /PRNewswire/ --

Stratview Research announces the launch of a new research report on Composite Simulation Software Market by Software Type (Computer-Aided Design, Computer-Aided Engineering, and Computer-Aided Manufacturing), by End-Use Industry Type (Aerospace & Defense, Transportation, Building & Construction, Wind Energy, Marine, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.

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This market report, from Stratview Research, studies the simulation software market in the global composites industry over the trend period of 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

Simulation Software Market in the Global Composites Industry: Highlights 

Composite materials are far more complex and variable than metals due to presence of many raw materials, intermediates, and manufacturing processes. It is not easy to produce a final part by developing a right combination of different materials and processes at the first instance. Also, there is a big push on the manufacturing side to streamline automation and produce high-quality composite parts faster. Simulation software helps composite stakeholders in the designing, development, and production of composite parts more efficiently.

Composites industry currently accounts for a minuscule share of the total simulation software market, but is likely to be one of the fastest-growing applications in the foreseen future. As per Stratview Research, the global composite simulation software market offers an impressive growth during the forecast period and reach US$ 76.8 million in 2023, which offers an opportunity to the industry players to align themselves with the market growth. Increasing penetration of composites in various end-use industries such as aerospace & defense and automotive, higher demand for automation and faster production processes, and increasing demand for simulation software from design to production are some of the major growth drivers of the market.

Aerospace & defense industry is expected to remain the largest market for simulation software in the composites industry. All major aerospace and defense OEMs are searching out the possibility of using composites in most of the structural applications of their upcoming aircraft, thus driving the demand for efficient simulation software to minimize the risk of expensive product development. Transportation industry is expected to offer the highest growth in simulation software demand for composites over the next five years, driven by increasing use of composites in the structural applications of electric vehicles and premium vehicles. All major simulation software companies in the composites industry are heavily targeting the transportation industry to tap the growing market potential.

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Amongst the three software types i.e. CAD, CAM and CAE; CAD is the most used simulation software in the global composites industry and is expected to remain so during the forecast period as well.

In terms of region, North America is expected to remain the largest market for composite simulation software over the next five years. The region is the world's capital in terms of aerospace composites manufacturing with presence of several aerospace OEMs and tier players. However, Asia-Pacific is likely to experience the highest growth in the demand of composite simulation software due to high growth of composites and a gradual shift of composites manufacturing from North America and Europe to the Asia-Pacific region. 

The global composite simulation software market is highly consolidated with about a dozen players populated worldwide. The key players are Siemens AG, Autodesk Inc, Dassault Systemes, ESI Group and Altair Engineering.  New product development and merger & acquisitions are the key strategies adopted by the major players to gain competitive edge in the market.

Report Features 

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

This report studies global composite simulation software market and has segmented the market in three ways, keeping in mind the interest of all the stakeholders across the value chain. The following are the three ways in which the market is segmented:

Composite Simulation Software Market by Software Type: 

• Computer-Aided Design (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Computer-Aided Engineering (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Computer-Aided Manufacturing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Composite Simulation Software Market by Composites End-Use Industry Type: 

• Aerospace & Defense (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Wind Energy (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Building & Construction (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Marine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Composite Simulation Software Market by Region: 

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the United Kingdom, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Latin America, the Middle East, and Others)

Stratview Research has several high value market reports in the composites industry. Please refer to the following link to browse through our reports:  

Click Here for Other Reports from Stratview Research in the Composites Industry

Related premium market reports in the advanced materials industry are: 

High Performance Glass Fiber Market by End Use Industry, by Usage, and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018 - 2023
Composite Preforms Market by Application Segment, by Fiber Type, by Product Type, by Structure Type, and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018 - 2023

About Stratview Research  

Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.

We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.

Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.  

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SOURCE Stratview Research