The global numerical analysis software market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Numerical analysis software is the process of real-time operations with the help of mathematical formulas to increase the capability and efficiency of different products. The global market is growing due to the increasing demand for an eco-friendly work environment and expensive real-time training. The rising number of small and medium-sized businesses and their focus on capability and efficiency are boosting the demand for numerical analysis software. The increasing demand for cost reduction procedures while proto-typing of any products is also expected to drive the growth of the market. Additionally, the rising technological advancement with artificial intelligence is also boosting the growth of the numerical analysis software market. Furthermore, the supportive government initiatives for the development of infrastructure as a service-based solution are anticipated to propel the growth of the global numerical analysis software market during the forecast period.
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The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new launches, to stay competitive in the market. For instance-
- In January 2022, Future Facilities Ltd. announced the launch of its latest software version, Release 16, which introduces various new and improved features and functionality, including enhanced view photorealistic models, faster joule heating, faster-printed circuit board (PCB) import, optimized 1D flow network, and 6SigmaCommander AI automation.
- In February 2021, Simul8 Corp. announced the launch of a new process mining simulation modeling solution to revolutionize digital process management that allows users to build instant simulations of organizational processes using data from common business systems.
- In February 2021, Altair Engineering Inc. announced the launch of updated solver technologies with new electronic system design capabilities and simulation software updates to enhance user experiences.
Market Coverage
- The market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- SONY ELECTRONICS INC., NXP Semiconductors, SAMSUNG ELECTRONICS CO., LTD., and Polaris Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- 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 Numerical Analysis Software Market Report by Segment
By Type
- Cloud-Based
- On-Premisese
By Application
- Scientific Research
- Financial Analysis
- Others
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