The global cloud-based simulation application market is expected to grow at a significant CAGR of 11.5% during the forecast period (2024-2031). The major factors contributing to the growth of the global cloud-based simulation application market include rising utilization of cloud-based simulation applications in various industry verticals due to its several benefits as email and collaboration, customer relationship management (CRM), billing/payroll processing, sales management, human resources management, financial management, database management, enterprise resourcing planning (ERP), content management, and document editing and management.
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Cloud-based simulation is a method for using computer resources in simulations in a novel way, which includes infrastructure, platform, and software for researchers and scientists to use as a service. The ability to assess, model, restructure, and manage risks is integrated into simulation software programs. As a result, cloud-based simulation applications are well suited for providing training, making optimal use of existing resources, and anticipating process outcomes through improved process efficiency.
The key players contributing to the growth of the global cloud-based simulation application market by adopting various strategies such as product launches and developments, mergers and acquisitions, partnerships, and agreements, include ANSYS Inc., Autodesl Inc., Dassault Systemes, Exa Corporation, Siemens PLM Software, among others. For instance, in March 2021, SimScale GmbH, the creator of the world’s first production-ready SaaS solution for engineering simulation that includes CFD, FEA, and thermal analysis, introduced a major platform expansion that will allow users to modify CAD files directly in their simulation software. Designers and engineers may use this tool to clean up, alter, or redesign their geometry without having to leave the SimScale simulation platform.
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Market Coverage
- Segment Covered-
o By Solution
o By Application
o By Industry
- Competitive Landscape-ANSYS Inc., Autodesl Inc., Dassault Systemes, Exa Corporation, Siemens PLM Software, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Cloud-Based Simulation Application Market- Segmentation
By Solution
- Software as a Service (SaaS)
- Platform as a Service (PaaS)
- Infrastructure as a Service (IaaS)
By Application
- Training
- Process Improvement
- Predicting Outcomes
- Managing Risk
By Industry
- Manufacturing
- Media and Entertainment
- Construction
- Automotive
- Transportation and Logistics
- Healthcare
- Defense and Aerospace
- Energy and Power
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