Simulation Software helps users in creating virtual models, enabling representing these models in the 2D or 3D forms which helps them in presenting ideas and their real-time appearance, the resources which would be required in realizing the models, and also helps in calculating the total budgets. Simulation software helps users in addressing several unforeseen or existing or expected issues which could arise prior to developing the model, which saves time, and efforts from being wasted. Some of the most widely used types of simulation software include Risk Analysis, Agent-Based, Discrete Event, and System Dynamics.
360Quadrants has released a quadrant on the best simulation software to help businesses make quicker and more informed decisions. Ranking Quadrants are generated post analysis of companies (product portfolios and business strategies) and will be updated every three months based on market and regional analyses and developments in the Simulation Software industry. 360Quadrants conducts an in-depth SWOT analysis which helps service providers in learning about new opportunities and areas where they lag behind their peers. It also helps clients in choosing the most appropriate vendor for their requirements.
CATEGORIZATION OF SIMULATION SOFTWARE PROVIDERS
Company evaluation was conducted for 20+ companies offering the best Simulation Software services out of which 18 companies were shortlisted and categorized on a quadrant under Visionary Leaders, Innovators, Dynamic Differentiators, and Emerging Leaders.
Wolfram Mathematica, ANSYS, AnyLogic, FlexSim, and Simulink have been identified as visionary leaders as they have established product portfolios and robust market presence and business strategies. These offer the Best Simulation software and associated services. They have been marking their presence in the Best Simulation solution market by offering highly customized and easily deployable software for their commercial clients, coupled with their robust business strategies to achieve continued growth in the market.
Arena, COMSOL Multiphysics, and WITNESS have been identified as innovators as these companies have innovative portfolios of the best Simulation Software. These vendors have been providing simulation solutions as per customer demands. Innovators have been at the forefront in deploying their solutions for niche and custom requests by their clients requiring the processing of high-performance workloads.
GENESYS, Solid Edge, and CHARGE have been identified as the emerging players. They are specialized in offering highly niche and tailor-made solutions and services to their clients. A majority of the emerging vendors have been undertaking multiple acquisitions and boosting their sales capabilities in various regions to offer their integrated services to a wide range of clients.
EMS, FORGE, GASP, Mapp, Mimic, Prospect, and SLM and have been recognized as dynamic differentiators. They have strong portfolios of simulation solutions and have a widespread network of channel partners and resellers to upsurge the deployment of their services across various vertical markets. These companies have been steadily making positive revenue growth in the Simulation Software market and their positions are enhanced through organic and inorganic strategies undertaken by them over a period.
360QUADRANTS COMPANY EVALUATION METHODOLOGY
Top Simulation Software companies will be rated using the following methodology:
A highly experienced team of researchers and senior analysts conducts extensive research to generate a list of vendors (competitors).
A patent-pending algorithm is used to collect inputs from key stakeholders—industry experts, buyers, vendors, and 360Quadrants analysts—based on criteria for Product Maturity and Company Maturity.
Criteria under Product Maturity include breadth and depth of product/service offering, product features and functionalities, product differentiation, and their impact on customer value.
Criteria under Company Maturity include geographical footprint, partner ecosystem, financial stability, and client coverage or sector footprint.
Approximately 100+ in-depth parameters will be considered for research for the Simulation Software market. These parameters will be updated every six months to ensure the latest developments are taken into consideration.
A weightage is assigned to each stakeholder based on information gathered pertaining to the above criteria as well as inputs from stakeholders. These inputs follow the order of priority given below:
The inputs are analyzed, and a final rating is assigned to each vendor (competitor).
After the finalization of ratings, each vendor is placed in the most relevant quadrant based on their score.
360Quadrants is the largest marketplace looking to disrupt USD 6.3 trillion of technology spend and is the only rating platform for vendors in the technology space. The platform provides users access to unbiased information that helps them make qualified business decisions. The platform facilitates deeper insights using direct engagement with 650+ industry experts and analysts and allows buyers to discuss their requirements with 7,500 vendors. Companies get to win ideal new customers, customize their quadrants, decide key parameters, and position themselves strategically in niche spaces, to be consumed by giants and startups alike. Experts get to grow their brand and increase their thought leadership. The platform targets the building of a social network that links industry experts with companies worldwide.