Simulation and Energy Analysis Software Market Development History, Current Analysis and Estimated Forecast
Simulation and Energy Analysis Software Market – Overview
Building simulation and energy analysis predicts performance aspects of a building by creating a virtual replica, sufficiently accurate to form a suitable representation of the actual building. Simulation and energy analysis software is a system to quantitatively predict a building’s endurance. The building is built from its fundamental parts on a computer and simulation is carried out by taking that building through the weather conditions of an entire year.
Building simulation is broadly classified into two categories: load design and energy analysis. Load design is used to determine air conditioning load, volumetric air flow requirement, etc. Energy analysis is used to predict the monthly energy consumption, annual energy costs, and annual carbon dioxide emissions. Besides energy consumption, simulation software tools could be used to calculate indoor temperature, heating and cooling requirements, consumption needs of HVAC systems, levels of ventilation, etc.
Simulation and Energy Analysis Software Market – Drivers & Restraints
Investment in information technology by various industries and rise in demand for specialized software act as key drivers of the global simulation and energy analysis software market. Major advantage of simulation and energy analysis software is that one can perform “what-if” analysis and study the behavior of a system without building it for real. Key restraints of the market are high cost of building and conducting simulation, and requirement of special training as the simulation results can be misinterpreted by an under-trained personnel.
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The simulation and energy analysis software industry needs to reduce its dependence on large players and increase or modify its offerings with the rapid technological transformations. Currently, the industry caters to established enterprises that can afford the high cost of the software and that demand high end services.
Simulation and Energy Analysis Software Market – Segmentation
Geographically, North America is projected to be the largest simulation and energy analysis software market in terms of revenue during the forecast period, followed by Europe and Asia Pacific. The simulation and energy analysis software market in Asia Pacific is anticipated to be grow at a rapid pace, dominated by emerging economies such as China and India. The simulation and energy analysis software market in South America is expected to witness sluggish growth and would take more time to adopt as compared to the rest of the world.
In terms of industry verticals, the global simulation and energy analysis software market can be segmented into automobile, research & development, electrical & electronics, aerospace & defense, industrial manufacturing, education, health care, and others. The others segment includes mining, construction, entertainment, and energy. The aerospace & defense segment is likely to experience strong growth during the forecast period. The aerospace & defense industry requires highly efficient computers to run the aerodynamic, thermal, and acoustic simulation software solutions to achieve the efficiency and performance as per industry standards while developing aircraft.
Based on application, the research & development segment is expected to account for major market share because of increase in awareness about the simulation and analysis technology for conducting research and development activities such as process optimization, innovations, and performance improvement.
Simulation and Energy Analysis Software Market – Drivers & Restraints
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Major players in the global simulation and energy analysis software market are Altair Engineering, Inc., The AnyLogic Company, UW BERG, Energy Simulation Solutions Limited, SimScale GmbH, Autodesk, Inc., EnergySwift, Autodesk, Inc., DesignBuilder Software Ltd., EnergyPlus, Dassault Systemes, Siemens AG, ANSYS, Inc., and Bentley Systems, Incorporated.
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