Simulation Software Options

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Simulation Software Options

According to The MathWorks, Inc., MATLAB and Simulink are being used by about 4 million users globally. The most popular simulation software based on customer reviews is MATLAB, with 1,278 reviews and a 4.6 out of 5.0-star rating. Globally, the key players in the simulation software market include Bentley Systems, Inc., Hexagon AB, Siemens AG, etc.

Data and Statistics on MATLAB and Simulink

Frequency of Simulation Software Use (now and Five years ago)

  • The top sectors for simulation software include aerospace & defense, automotive, electrical & electronics, healthcare, and industrial equipment, among others.
  • Simulation software use has seen steady growth over the years, based on increasing demand for use in "advanced flight simulations and training, and in the manufacturing process of lightweight aerospace parts."
  • In 2015, simulation usage was estimated at 34%, while in 2016, it climbed to 38%. In 2017 through 2022, simulation usage was forecasted to increase to about 43%.
  • According to Business-Advantage, simulation is more likely to be used in big companies (45%) than medium (30%) and small (28%). Further, simulation is mostly used for design optimization (79%), design validation (73%), and prediction of product performance 67%.

Projected Growth in Simulation Software

  • According to a market report by Mordor Intelligence, the simulation software market in 2019 was valued at $8.24 billion and expected to reach $19.22 billion by 2025, growing at a CAGR of 15.14%.
  • The fact that simulation provides affordable and rich training experiences via end-user applications and without using any physical asset, which would result in increases in costs, is expected to fuel the growth of this market over the forecast duration.
  • The extensive use of simulation in research and education is also likely to drive the growth of this market. Simulation software is also forecasted to witness high growth within the automotive sector during the forecast period.
  • North America holds the most significant market share in simulation software and is expected to continue expanding due to the increasing number of SMEs (small and medium-sized enterprises) units in the region, and the growing focus on research and development activities.

Popularity of Specific Software

  • As per the 2016 simulation trends, the top five most-used vendors were AutoCAD, SolidWorks, Inventor, AutoCAD LT, and PTC.
  • Based on reviews on Capterra, MATLAB is the most popular simulation software with 1,278 reviews and a score of 4.6 out of five.
  • AnyLogic comes second with 215 reviews and a star rating of 4.6 out of five.
  • The third most popular software based on Capterra reviews is Wolfram Mathematica, with 119 reviews and a star rating of 4.6 out of five.
  • FlexSim and Ansys are the fourth and fifth most popular simulation software with 118 and 114 reviews and star ratings of 4.6 out of five, respectively.

Research Methodology

Extensive searches across simulation software and modeling databases, market research reports, information technology website, engineering databases, and business process modeling resources helped uncover major findings regarding the global simulation software market. Unfortunately, no statistics indicate the overall change in the number of users or software downloads/purchases from 2015-2020; hence, the statistics provided indicate the adoption rate as a percentage. However, the research team included in-depth data and statistics regarding MATLAB and Simulink, including the size of their global user base, the number of annual downloads, number of installations, and many more statistics. Overall, based on publicly available data, we have provided a detailed overview of the simulation software market, its forecasted growth rate, popular software, top players in this niche, and frequency of use.