Published Date : Sep 06, 2016
ALBANY, NY, Sep 06, 2016: According to a recent market research report added to the comprehensive portfolio of MarketResearchReports.biz, the global market for motion simulation is expected to expand at an excellent 11.27% CAGR over the period between 2016 and 2024. The report, titled “Global Motion Simulation Market 2016-2020,” states that the market will be driven chiefly owing to the widening popularity of cloud-based motion simulation and reports software.
Cloud-based motion reports services offer large data space, which is a prime requisite for ease of operation of computationally complex and demanding simulation software, and lead to substantial reductions in overhead costs as not licenses are needed to be bought. Additionally, low maintenance costs and improved scalability achieved through cost-based services are expected to compel an increased number of motion simulation software vendors to partner with cloud-based hosting and service platform providers in the next few years.
Motion simulation software finds extensive usage across several applications in industries such as aerospace and defense, electrical and electronics, automotive, and industrial machinery. Of these, the automotive sector presently dominates, accounting for a share of nearly 30% of the global market in 2015. The trend is expected to remain consistently impactful for the global market over the years to come as well, with the automotive industry commanding a prominent share of the global market’s revenues by 2024. The rising focus of the automotive industry towards the development of automated driving systems and electric vehicles is also expected to foster the use of motion simulation software in the automotive industry.
In terms of geography, the Americas presently dominates the global motion simulation market and is also expected to retain its dominant stance in the near future, accounting for a share of 37% by 2020. The introduction of technologically advanced product sectors such as 3D printers and innovative health and fitness tracking devices are inducing OEMs to increase the implementation of motion simulation technologies for the purpose of designing new products in the region.
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Moreover, the U.S. has continuously increased the R&D investment in the military and defense sector, which will have a substantial positive impact on the development of the motion simulation market in the Americas in the next few years. The aerospace and defense industry in Americas is expected to emerge as one of the chief drivers of the global motion simulation market in the next few years.
The competitive landscape of the global motion simulation market features the presence of a large number of small-, medium-, and large-scale companies. Motion simulation has become an important stage in the field of product design and development across a vast number of industries. As the demand for such applications rises globally, the competitive pressure in the market is expected to rise substantially in the next few years.
Some of the leading companies in the market are Autodesk, Mentor Graphics, ANSYS, Siemens, NEi Software, Aspen Technology, COMSOL, Altair, Dassault Systemes, MSC software, and NUMECA.
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