Data Bridge Market Research analyses that the service lifecycle management market is expected to reach USD 3.05 billion by 2030, which is USD 1.60 billion.
Simulation Software Market worth $26.9 billion by 2026 - Exclusive Report by MarketsandMarkets Simulation Software Market by Component (Software (FEA, CFD), Services), Deployment (Cloud, On-premises), Application (Product Engineering, R&D, and Gamification), Vertical (Automobile, Healthcare and Pharmaceuticals), and Region - Global Forecast to 2026 , published by MarketsandMarkets, the Simulation Software Market size is expected to grow from USD 12.7 billion in 2020 to USD 26.9 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 13.2% during the forecast period.
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Altair Engineering, Inc. (Altair Engineering), BENTLEY SYSTEMS, INCORPORATED (Bentley Systems), ANSYS, Inc. (ANSYS), PTC (PTC), Siemens Product Lifecycle Management Software Inc. (Siemens PLM Software), Autodesk Inc. (Autodesk), Dassault Systèmes (Dassault Systemes), Synopsys, Inc. (Synopsys), and
Altair Engineering, Inc. (Altair Engineering), BENTLEY SYSTEMS, INCORPORATED (Bentley Systems), ANSYS, Inc. (ANSYS), PTC (PTC), Siemens Product Lifecycle Management Software Inc. (Siemens PLM Software), Autodesk Inc. (Autodesk), Dassault Systèmes (Dassault Systemes), Synopsys, Inc. (Synopsys), and The MathWorks, Inc. (MathWorks) are some of the key players considered in the Simulation Software Market. Companies offering simulation analysis solutions are focusing on organic strategies, such as new product launches and product enhancements, to be competitive in the Simulation Software Market. For instance, in September 2019, Certara launched Version 8.2 of its Industry-leading Phoenix PK/PD Modeling and Simulation Software for Drug Development. The increasing demand for simulation software in healthcare and pharmaceuticals is expected to increase its growth rate in the coming years.