Composite Simulation Software Market to reach US$ 80.7 million during the coming years (2019-2024)

Addressing the most sought-after questions that occupy the minds of entrepreneurs and decision makers, the new report of "Stratview Research" on the Composite Simulation Software Market, answers all the important questions.

Getting to the bare bones of the issues and factors which are sculpturing the market, Stratview Research brings out the best actionable market intelligence for the global Composite Simulation Software Market.

The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2019-2024.
The important questions the report answers are:
1. What will be the market growth rate in the near future?
2. What are the major developments in the market wrt regulations, acquisitions and innovations?
3. What are the growth drivers as well as the constraints?
4. What are the regional growth hotspots?
5. What are the segmental growth forecasts?

These questions and many more, big and small, are all discussed in the report in great detail.

The Global Simulation Software Market in the Composites Industry: Highlights
The 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. All the major players are keenly showing interest to participate in the market to capture a large pie of the market in the foreseen future.

The strategic Market dissection
The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.

Dissection by Segments
• by Software Type : Computer-Aided Design, Computer-Aided Engineering and Others
• by End-Use Industry Type : Aerospace & Defense, Transportation and Others
• by Region : North America, Europe, Asia-Pacific, and RoW

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The Growth Prognosis & its Drivers
The next five years for the composite simulation software market are going to be vigorous with attractive growth opportunities in the entire ecosystem of the market. The global composite simulation software market is subjected to grow at an impressive rate over the next five years to reach an estimated value of US$ 80.7 million in 2024. Increasing penetration of composites in various end-use industries including aerospace & defense and automotive; higher demand for automation and faster production process; and increasing demand for simulation software from design to production are the major growth drivers of the market.

Market Segments
The global composite simulation software market is segmented into end-use industry type as Aerospace & Defense, Transportation, Building & Construction, Wind Energy, Marine, and Others. The aerospace & defense industry is expected to remain the largest market for simulation software in the composites industry in the foreseen future.
Transportation is expected to experience the highest growth in simulation software demand for composites over the next five years. Increasing the use of composites in the structural applications of electric vehicles and premium vehicles is driving the demand for simulation software.
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 the presence of several aerospace OEMs and tier players.
There are broadly three types of simulation software used in the composites industry: Computer-Aided Design (CAD), Computer-Aided Engineering (CAE), and Computer-Aided Manufacturing (CAM). CAD and CAE software are the most widely used simulation software in the global composites industry and are expected to remain the major ones during the forecast period as well.

Players
The supply chain of this market comprises software developers, designers, part molders, distributors, OEMs, and end users. The global composite simulation software market is highly consolidated with about a dozen players populated worldwide. The key composite simulation software providers are Siemens AG, Autodesk Inc, Dassault Systemes, and Altair Engineering. New product development and execution of merger & acquisitions are the key strategies adopted by the key players to gain a competitive edge in the market.

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This release was published on openPR.