PUNE, India, June 22, 2016 /PRNewswire/ --
Global simulation and analysis software market analysts say a trend which will definitely boost market growth is the use of simulation software to develop IoT supporting devices. The IoT is a network of physical tangible objects that operate by connecting devices with each other and with their end-users' communication devices. The IoT includes hardware devices, embedded software, communication services, and IT services. It helps create smart communication environment such as smart homes, smart transportation, smart shopping, and smart healthcare. With the advances of IoT and the addition of network interface, smart machines can monitor and control various objects using microcontrollers via the internet.
Complete report on simulation and analysis software market spread across 70 pages, analyzing 6 major companies and providing 45 data exhibits is now available at http://www.rnrmarketresearch.com/global-simulation-and-analysis-software-market-2016-2020-market-report.html .
The need for innovation and high-quality products is the fundamental driving force behind growth in this market. The manufacturers are endeavoring to achieve the first-mover advantage in the market. This has led to the widespread adoption of simulation and analysis software by companies across industries to analyze and innovate their product functionalities. APAC dominated the global simulation and analysis software market in 2015 by occupying almost 34% of the market share. The market is thriving in this region due to the development of multiple discrete manufacturing industries. The simulation and analysis software market in APAC is projected to grow further during the forecast period with the majority of the revenue coming from China, India, Taiwan, Korea, Malaysia, and Thailand.
The analysts forecast global simulation and analysis software market to grow at a CAGR of 11.9% during the period 2016-2020. Key growth driver is the availability and high demand for integration with CAD. Simulation and analysis software vendors provide CFD and FEA software integrated with computer-aided design (CAD), which improves the overall efficiency of the new product development cycle. Customers prefer an embedded solution as it reduces the product development cycle time and simultaneously increases its efficiency. Engineers and other stakeholders participate in product development and improve the collective product design. CFD- and CAD-embedded software enables engineers to work on a single geometry. The changes made in one application are directly updated in others. This eliminates the data transfer gap between CFD and CAD applications, in turn increasing the efficiency of the product development cycle. This strategy improves the design optimization of complex and innovative products.
The following companies are the key players in the global simulation and analysis software market: ANSYS, MSC Software, Dassault Systèmes, CD-adapco, Siemens PLM Software, and Mentor Graphics. Other prominent vendors in the market are: Altair Engineering, Aspen Tech, Bentley Systems, Blue Ridge Numerics (Autodesk), Computational Engineering International, ESI, Exa, Flow Science, NEi Software, and Numeca International. Order a copy of Global Simulation and Analysis Software Market 2016-2020 report @ http://www.rnrmarketresearch.com/contacts/purchase?rname=607553 .
Global Simulation and Analysis Software Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. Further, simulation and analysis software market report states that one challenge that could impede market growth is the availability of open-source software. In addition to open source, vendors are facing challenges from pirated and counterfeit products in the market. Many pirated codes and keys are available to crack the commercial software.
Another related report is Global Cloud Product Lifecycle Management Market 2016-2020, the analysts forecast global cloud PLM market to grow at a CAGR of 8.79% during the period 2016-2020. According to the report, a key driver of market growth is the reduction in operations cost. By implementing cloud PLM software, enterprises can reduce costs in different stages of product lifecycle such as product planning, development, manufacturing, and support, enabling them to minimize the cost of products offered. Browse complete report @ http://www.rnrmarketresearch.com/global-cloud-product-lifecycle-management-market-2016-2020-market-report.html .
Explore other new reports on Software & Services Market @ http://www.rnrmarketresearch.com/reports/information-technology-telecommunication/software-enterprise-computing/software-services .
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