Global Composite Simulation Software Market Set for Sustainable Growth, Says Stratview Research in Its Report Published at MarketPublishers.com02 May 2017 • by Natalie Aster
LONDON – As of 2016, the value of the world’s market for composite simulation software stood at appr. USD 47 million. This marketplace is set to keep on growing (at a one-digit rate) in the coming years. It is likely to be worth more than USD 71 million in 2022.
There is a range of vital factors that contributes to the growth: the high demand for automation, the rising demand for the software from design to production, the composites industry growth, and more.
At present, the aerospace and defense industry is the biggest market for the composite stimulation software industry. It is forecast to maintain this position in the offing, as composites gain traction on major next gen aircraft (e.g. C Series).
In terms of growth, transportation is expected to be the fastest growing segment in the coming years. This will stem from the growing use of composites in structural applications of both premium and electric vehicles.
In terms of product types, computer aided design software takes the lead across all the segments. It is forecast to showcase the most rapid growth in the near term.
Region-wise, North America is the leader, and it will not be dethroned in the coming years. Yet, the Asia Pacific will be the swiftest growing marketplace thanks to the demand increase.
The global market boasts a high level of consolidation, and Autodesk, Siemens, and Altair Engineering are some of the leaders.
In-demand research report “Global Composite Simulation Software Market: 2017 – 2022” developed by Stratview Research provides a comprehensive discussion of the worldwide composite stimulation software marketplace. The study offers a bird’s eye view of the market. It canvasses the dynamics of this space.
The report covers major segments of the marketplace, looks at top regions and delves deep into the competitive environment. Strategic growth opportunities are limelighted in the research study. The research report profiles top companies and projects future developments.
More insightful studies by Stratview Research are available at its page.