A simulation market technology known as a “digital twin interface” is totally based on the physical replica of the simulated thing itself. The benefit of using digital twin technology to develop a simulation model is that it enables users to exactly predict the implications and effects of how the real item will behave in the future.
Digital twin simulation technologies are increasingly in demand in the manufacturing sector to simulate and optimise production systems as well as to improve production workflows and factory planning.
This technique offers a fresh method for creating model-based machines. Robots, machinery, AI, and automation all make use of digital twin technologies.
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Rising Demand for Simulation-based Medical Education Systems to Bolster Simulator Market GrowthSimulation-based systems are widely used in clinical training for healthcare students and professionals. These medical education systems are used to make variou
Simulation-based systems are widely used in clinical training for healthcare students and professionals. These medical education systems are used to make various educational activities such as teaching, learning, and training faster and more cost effective.
Furthermore, simulations can be adapted to accommodate education for various medical specialties such as emergency medicine and trauma, anesthesia, intensive care medicine, pediatrics, and obstetrics.
Need for improvements in the healthcare process and patient-specific surgical simulations in the healthcare industry boosts demand for simulators.
Market Growth to Spur on Back of Enhanced Features Offered by Advanced Simulation Tools
Advanced simulation tools are adopted in several sectors such as healthcare, aerospace & defense, manufacturing, oil & gas, electricals and electronics to enhance operations.
Use of these tools is expected to increase product development and solutions in these industries, and improve business processes, product quality, and customer satisfaction.
The need for thermal analysis, fatigue analysis, and heat and mass transfer analysis by using advanced simulation tools such as FEA and CFD, is expected to further accelerate growth of the simulators market during the forecast period.
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APEJ and Western Europe to Offer Lucrative Growth Prospects to Simulator Market
Continuous adoption of advanced solutions and development of new business models due to the advent of industry 4.0 in Asia Pacific Excluding Japan and Western Europe is expected to create potential growth opportunities for players in the simulator market.
Simulation applications in the rapidly growing manufacturing and automotive industry in these regions, such as for areas of discrete event process simulation, and testing and simulation in vehicle development contribute to demand for simulators.
Simulator Market – Competition Landscape
New product launches, partnerships, & collaborations are key strategies followed by top players in the simulator market to increase their revenue, and bring in innovations in solution/services, which enables simulator solution providers to gain new streams of revenue generation in the global market.
Some prominent players in the simulator market are Hexagon AB, Emerson Electric Co., Elbit Systems Ltd., CAE, Inc., Dassault Systemes SA, HAVELSAN A.S., Ansys Inc. and ELITE Simulation Solutions.
Analysts’ Viewpoint
Demand for simulators is increasing due to the adoption of various simulation technologies such as virtual reality and optical simulations for additive manufacturing, real-time simulation, sensor optimization, and human machine interface across a wide range of end-use industries. Among various regions, Asia Pacific Excluding Japan is expected to witness the highest growth rate in the global simulator market during the forecast period.
However, North America is holds the largest share in terms of value in the global simulator market, and accounted for a market share of 40% in 2018. It is also expected to retain its dominant position in the global simulator market during the forecast period, due to the efficient development and testing of aerospace systems with dynamic system simulation in the region.
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Simulator Market: Segmentation
PMR’s report on the global simulator market offers a detailed market segmentation, wherein key segments have been discussed in detail. The report by PMR carefully examines the simulator market on the global as well as regional levels, through market segmentation on the basis of multiple parameters such as solution, deployment, industry, and prominent regions. Every segment has been analyzed in detail, and data pertaining to the growth of each segment has been included in the study.
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