Global Multiphysics Software Market Size, Share, & COVID-19 Impact Analysis, By End User (Individual and Commercial), By Application (Engineering, Manufacturing, Academic and Scientific Research, Construction, and Others (Aerospace, Automotive), and Regional Forecast, 2024-2032

Multiphysics software is a kind of simulation software that enables users to stimulate and model various systems with several physics phenomena. Multifarious industrial issues need solutions comprising many physical phenomena, which can only be resolved using simulation mechanisms that cross numerous engineering disciplines. Such software is used in a wide variety of studies, such as the performance of electronic devices and behavioral studies of computational fluid dynamics. 

The multiphysics software market is anticipated to exhibit substantial growth in the forthcoming years, determined by the rising demand for simulation solutions in various industries, including automotive, energy, aerospace, civil engineering, and others. Increasing demand for processes and product optimization, advancements in computational technology, and open-source multiphysics applications contribute to market development.

• For instance, in January 2022, Comsol announced the registration for the event series with the introduction of COMSOL Multiphysics Version 6.0. It was a sequence of online events held across the world for the computer-aided engineering (CAE) sector. COMSOL Day participants got the opportunity to network with COMSOL engineers throughout live sessions and ask questions directly to support engineers and software developers.

Such events and initiatives help engineering teams to ensure reliability across users while augmenting the pace of simulation to aid faster market innovations.

Impact of COVID-19 on the Multiphysics Software

The COVID-19 pandemic impacted various industries, including electronics products, supply chains, manufacturing, aerospace, automotive, and others. It forced businesses in these industries to shift their operations online. Hence, various firms in the market started adopting video as a service, thus increasing the demand for simulations applications and multiphysics software.

The applications of multiphysics software in different sectors, such as research, simulation, and engineering designs used in designing and manufacturing airplanes, cars, and medical operatives, have helped to generate the demand for multiphysics software in the market.  

• In May 2020, Comsol held a conference in North America in a virtual format. The conference focused on advancing skillsets and expanding collaboration among scientists and engineers in the multiphysics simulation areas. The conference has participations from academia and industry sharing their understandings regarding multiphysics simulation and modeling applications.

Segmentation

Analysis By Application

Multiphysics software has a variety of applications in various areas, such as engineering, academic and scientific research, manufacturing, construction, and others.

Several real-world engineering difficulties need multiphysics analysis, such as vibro-acoustics, fluid-structure interaction, thermal-fluid coupling, and aeroacoustics. The applications of multiphysics software in education help learners and students better understand complex theories with ease and reality-based scenarios. Students can learn about the complexity of multiphysics problems that are modeled and simulated with commercial simulation software.

Multiphysics software is accelerating the progress in research and development institutes with new advancements and innovations in different industries. For instance,

• Engineers at the TRI-NA (Toyota Research Institute of North America) in Michigan, Ann Arbor used simulation to restructure the topology of the aluminum heat sink to minimize the size by half while dispersing the same amount of heat.

Key Insights

The report will cover the following key insights:

• Micro Macro Economic Indicators


• Drivers, Restraints, Trends, and Opportunities


• Business Strategies Adopted by the Key Players


• Impact of COVID-19 on the Global Multiphysics Market


• Consolidated SWOT Analysis of Key Players

Regional Analysis

To gain extensive insights into the market, Request for Customization

The multiphysics software market is categorized into five regions: North America, the Middle East and Africa, South America, Asia Pacific, and Europe.

North America is predicted to hold a prominent market share for the multiphysics software market throughout the forecast period. The increasing demand for new advancements in the engineering and manufacturing industry is enhancing the market growth in the region. Moreover, developments in other sectors, such as aerospace, automotive, and energy, are also contributing to the progress of the multiphysics software market in the region. The significant presence of prominent players such as COSMOL, Ansys, Siemens, Dassault Systemes, and others in the region is driving the market growth.

The distribution of the global multiphysics software market by region of origin is as follows:

• North America – 36%


• South America – 7%


• Europe – 25%


• Middle East and Africa – 10%


• Asia Pacific – 22%

Key Players Covered

The key players in this market include COSMOL, Siemens, Dassault Systemes, Ansys, Altair Engineering, MATLAB, Hexagon, ESI Group, MotionPort, SimScale, Abaqus, Gamma Technologies, and SimuTech Group, among others.

Key Industry Developments

• April 2023: Ansys announced its collaboration with OIP Cloud Alliance of TSMC to protect multiphysics analysis in the cloud. The partnership enables Ansys multiphysics analysis solutions to work efficiently with data security across significant cloud vendors. This will enable customers to flexibly benefit from quicker run times and elastic computing with foremost cloud providers.


• October 2022, KULR Technology formed an alliance with Gamma Technologies, a multiphysics system simulation software company. The alliance integrates a multiphysics, multi-scale analysis platform into KULR Technology’s product portfolio. With this partnership, KULR provides its customers access to optimized multiphysics engineering solutions.