The acceleration in demand for simulation software solutions across various industry verticals has caused a significant growth in the global simulation software market. Moreover rapid developments in the field of the Internet of Things (IoT) and smart, connected systems have also contributed to this hike and have enabled simulations to evolve from its realm of product design to manufacturing and operations. This is particularly prominent in the Asia-Pacific region, which shows the steepest growth curve mainly due to the increasing demand for simulation software for the construction industry. According to a new report published by KBV Research, the Asia-Pacific Virtual Training and Simulation market is expected to attain a market size of USD 93.3 billion by 2022 growing at a CAGR of 20.3 percent during the forecast period. This can be mainly attributed to the intense competition posed by developing economies such as India and China to strengthen their influence across various sectors by leveraging the simulation software. Today simulation technology is being extensively used in the defense sector with increasing applications in aviation, the military, and the navy. The technology is also being widely leveraged across various other verticals such as the automobile, healthcare, industrial manufacturing and medical sciences industries to name a few and is expected to spread across many new industries in the near future.
Our distinguished selection panel comprising CEOs, CIOs, CFOs, industry analysts, and APAC CIO Outlook‘s editorial board have thoroughly analyzed the industry and recognized the key players. We present to you, APAC CIO Outlook‘s “Top 10 Simulation Solution Providers - 2018.”
