Global Automotive Industry Boom Drives Simulation and Analysis Software Market
Among the many factors responsible for the increasing demand for simulation and analysis software, the rapid expansion of the global automotive industry in recent years is a major one. The automotive industry in Europe and North America is at the cutting edge of technological innovation, with German giants such as BMW, Audi, and particularly Mercedes making a name for themselves thanks to their highly sophisticated and technologically products. The increasing prosperity of consumers in emerging economies such as China and India has given established automotive giants significant room to expand, which has resulted in a steady growth in the adoption of simulation and analysis software.
Other major end users of simulation and analysis software include the electrical and electronics industry, the aerospace and defense industry, and the industrial machinery industry. The increasing demand for smartphones and tablets in emerging regions is another major driver for the simulation and analysis software market, as are the military modernization efforts underway in developed giants such as the U.S.
Availability of Open-source Software Restrains Global Simulation and Analysis Software Market
While the global economic landscape appears highly favorable for the global simulation and analysis software market, the market is hamstrung by the easy availability of open-source design assistance software. This is a major restraint on the organized simulation and analysis software market, as emerging players are opting to use the cheaper open-source programs in the market.