Business Process Simulation Software Statistics 2024

In the dynamic world of business, staying ahead of the competition requires more than just innovation; it demands a keen understanding of operational efficiencies and strategic planning. Business process simulation software in 2024 has emerged as a pivotal tool, enabling companies to model, analyze, and optimize complex workflows with unprecedented accuracy. As the global market continues to evolve, these statistics become indispensable for comprehending the broader business landscape and the intricate forces shaping future trends.

Key stakeholders such as corporate executives, operational managers, and IT specialists will find this data particularly valuable. For executives, it offers insights into potential operational cost-savings and efficiency improvements. Operational managers can leverage these statistics to fine-tune daily workflows, while IT specialists can derive critical information to support system integration and upgrades. By harnessing the power of business process simulation software, industries can not only overcome existing challenges but also anticipate and mitigate future risks.

Understanding these statistics is crucial for informed decision-making and long-term strategy development. As businesses navigate an ever-changing environment, the ability to dynamically simulate and adjust processes offers a significant competitive advantage. This data doesn’t just highlight current capabilities; it maps out the trajectory of innovation, ensuring that companies can adeptly maneuver through both present obstacles and emerging opportunities.

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Top Business Process Simulation Software Statistics 2024

☰ Use “CTRL+F” to quickly find Business Process Simulation Software facts. There are total 66 Business Process Simulation Software Statistics on this page 🙂

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History And Development

• Business process modeling (BPM) was developed by Stanley Williams in 1967[?].
• The Gantt chart was developed by Henry L. Gantt, an engineer, in 1917[1].
• The term business process modeling was coined in the 1960s by S. Williams in his article “Business Process Modelling Improves Administrative Control”[14].
• In 1967, S. Williams published an article titled “Business Process Modeling Improves Administrative Control” which explained that techniques used in understanding manufacturing systems could be applied to business processes[1].
• The Gantt chart is a horizontally prepared table invented by Henry L. Gantt in 1917[1].
• Techniques to model business processes such as the flow chart, functional flow block diagram, control flow diagram, Gantt chart, PERT diagram, and IDEF have emerged since the beginning of the 20th century[14].
• The Gantt charts were among the first to arrive around 1899, the flow charts in the 1920s, functional flow block diagram and PERT in the 1950s, and data-flow diagrams and IDEF in the 1970s[14].
• In 1995, the first visually oriented tools for business process modeling and implementation were presented[14].

Market Size And Growth

• The global virtual commissioning market size was USD 540.1 million in 2021 and is projected to touch USD 2410.49 million by 2031, at a CAGR of 16.0% during the forecast period[2].
• The simulation software market was valued at USD 13.1 billion in 2023 and is estimated to register a CAGR of over 12% between 2024 & 2032[4].
• The growing emphasis on cost reduction, risk mitigation, and product innovation has boosted the demand for simulation software and is expected to reach USD 40.1 Billion by 2031, growing at a CAGR of 11.3% from 2024 to 2031[3].
• The global simulation software market is expected to register a CAGR of around 13% over the period of 2021-2027[5].
• The simulation software market size is expected to grow from USD 10.82 billion in 2023 to USD 19.12 billion by 2028, at a CAGR of 12.06% during the forecast period (2023-2028)[7].
• The simulation software market is forecast to be valued at $12.5 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 19.1% over the forecast period[8].
• The on-premises segment accounted for 55.3% of the market share in 2023[4].
• North America is projected to hold the second-largest market share through 2028[2].
• The automotive and transportation segment is anticipated to dominate the market through 2031[2].
• The simulation software market in Asia Pacific is expected to witness fast revenue growth over the forecast period (2023-2030)[8].
• The regional market is dominated by China, which accounted for the largest revenue share in 2023, driven by its expanding aerospace, automotive, and manufacturing sectors[8].
• The global simulation software market size is projected to grow from USD 18.1 billion in 2023 to USD 33.5 billion by 2028 at a CAGR of 13.1% during the forecast period[10].
• The global simulation software market size was worth USD 18.1 billion in 2023[10].
• The global simulation software market was valued at USD 14.9 Billion in 2023[25].
• The global simulation software market size reached US$ 14.9 Billion in 2023[25].

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Technological Advancements And Innovations

• Consistent technological breakthroughs will play a key role in shaping the simulation software industry outlook through 2032[4].
• In March 2024, Trimble unveiled the latest versions of its Tekla software suite for 2024, offering comprehensive solutions for designing, analyzing, detailing, and constructing steel structures[4].
• Ansys launched a web-based technology facilitating remote access to Computational Fluid Dynamics (CFD) simulations in March 2024[4].
• Synopsys signed a definitive agreement to purchase ANSYS, a simulation software firm, in a deal valued at USD 35 billion in January 2024[4].
• In November 2023, Ansys, the global player in engineering simulation software, and Materialise, a global player in 3D printing software and service solutions, joined forces to deliver integrated digital solutions to help overcome workflow challenges in the AM industry[9].
• In 2023, Mars collaborated with engineering software leader Ansys to develop simulation software for packaging, leading to significant reductions in development time (up to 40%) and plastic usage for testing[4].
• In January 2023, the software framework company for autonomous systems, Real-Time Innovations (RTI), announced its partnership with simulation software maker Ansys[3].

Industry Applications

• The simulation software market is segmented by end-user industries such as automotive, aerospace and defense, electrical and electronics, industrial manufacturing, healthcare, and others[3].
• The automotive and transportation segment is anticipated to dominate the market through 2031[2].
• North America is the fastest-growing region in the global simulation software market with a major share of over 33% in 2023[4].
• The on-premises segment accounted for 55.3% of the market share in 2023[4].
• The healthcare sector captured over 7% of the market share in 2023[8].

Covid-19 Impact

• COVID-19 Impact: Diminished Demand Across Key End-Use Industries Led to Lower Demand[2].
• The outbreak of the COVID-19 led to a huge blow to the manufacturing sector[2].
• The COVID-19 pandemic pushed organizations to act quickly to protect employees, address critical challenges, and help fight to minimize losses[9].
• The sudden outbreak of the COVID-19 pandemic has led to the growing deployment of simulation software as it helps in limiting the need for manually testing multiple prototypes, which in turn, allows to combat the spread of the coronavirus infection upon human intervention[25].

Business Process Modeling And Simulation Standards

• BPMN stands for Business Process Modeling Notation, and it’s a technique that helps you represent your processes in a visual manner through 100+ proprietary objects[6].
• UML involves different types of diagrams, which can be broken down into two main categories: structural diagrams and behavioral diagrams[6].
• BPMN 2.0 is the latest version of the BPMN standard and provides several enhancements over the previous version[20].
• BPMN 2.0 builds on previous versions by providing a richer standard set of symbols and notations, allowing more detail for those who need it[12].
• Business Process Simulation (BPS) is a technique for estimating the performance of business processes under different scenarios[18].

Market Leaders And Collaborations

• Ansys and Dassault Systemes are leading the simulation software industry, holding over 27% market share[4].
• In January 2024, Synopsys, a leading chip design company, signed a definitive agreement to purchase ANSYS, a simulation software firm, in a deal valued at USD 35 billion[4].
• In September 2022, Altair Engineering Inc. launched Simulation 2022.1, the most recent upgrade to the company’s simulation portfolio[7].
• In January 2023, Altair, a global leader in computational science and artificial intelligence (AI), announced the latest updates to its simulation portfolio[16].
• Autodesk Inc., Altair Engineering Inc., and ANSYS Inc. are among the prominent players in the simulation software market[23].

Regional Insights

• North America led the market in 2021 and contributed 35% of total revenue[27].
• Europe also accounted for a significant share of the market in 2022[24].
• The simulation software market in the North American region is anticipated to hold the largest share of about 33% throughout the forecast period due to the rising number of SME units in the area and the increased emphasis on research & development activities in North America[13].
• The simulation software market in the Europe region is projected to hold the second-largest share of about 28% during the projected period[13].
• The Middle East & Africa Simulation Software Market is expected to grow, with key countries contributing significantly to the market size[8].

Future Projections

• The simulation software market is anticipated to grow at a CAGR of 11.46% during the forecast period (2023 – 2032)[19].
• The market is projected to grow at a CAGR of 12.7% over the forecast period 2023-2030[23].
• The simulation software market size is expected to reach USD 56.1 billion by 2032, exhibiting an impressive CAGR of 12.9% between 2023 and 2032[21].
• The market is likely to record a CAGR of 6.4% over the forecast period of 2024-2032[22].
• The global simulation software market size is projected to grow from USD 18.1 billion in 2023 to USD 33.5 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 13.1% during the forecast period[17].
• The global simulation software market size was exhibited at USD 18.51 billion in 2023 and is estimated to grow around USD 40.5 billion by 2030, growing at a CAGR of 11.83% from 2022 to 2030[11].

Notable Insights

• Simulation software market research includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) from 2018 to 2032[4].
• Simulation software market is expected to expand at a CAGR of 12.7% over the forecast period 2023-2030[23].
• The automotive segment is expected to grow at the fastest CAGR of 15.6% over the forecast period[15].
• The software segment dominated the market and accounted for the largest revenue share of over 69.5% in 2023[24].
• The on-premise deployment segment led the market with the largest revenue share of 63.60% in 2023, primarily attributed to its early adoption within the automotive industry[15].
• The average worker productivity spans approximately 60% of the productive hours in a workday[26].

Conclusion

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