Dassault Systèmes (DSY)

3D design (CATIA/SOLIDWORKS) + PLM + simulation + life-sciences (MEDIDATA) — virtual twins of physical products

AI exposure 7% — derived from reported segment revenue, not asserted.

Where it sits

Software Stack → EDA & Engineering Software · figures rebased to Q2 2026, reported 2026-07-23

Dassault is authoring-dominant: 3D CAD design (CATIA for aerospace and automotive, SOLIDWORKS for mainstream mechanical) is its largest business at 45%, ahead of the ENOVIA PLM and SIMULIA simulation platform at 35%. By rule 2 the primary follows the largest business, and Dassault's is design authoring — unlike PTC, whose largest business is lifecycle management. Its own Q1 2026 mix is 71% manufacturing industries, 20% life sciences and 8% infrastructure and cities.

Also tagged: secondary in Software Stack → Enterprise & Business Software.

Reported segments

• Industrial Innovation — 55% of revenue
• Mainstream Innovation — 27% of revenue
• Life Sciences — 18% of revenue

Dassault Systemes (Q2 2026 software revenue +4%). Reports three product families as shares of SOFTWARE revenue: Industrial Innovation 55% (+5% — CATIA, ENOVIA and DELMIA, led by 3DEXPERIENCE and cloud) = primary B5 EDA & Engineering Software; Mainstream Innovation 27% (+11% — SOLIDWORKS with double-digit unit growth, plus CENTRIC) ; Life Sciences 18% (-3% — MEDIDATA, the one leg declining, with the ArisGlobal acquisition announced to expand it). Shares are of software revenue and exclude services, which is how Dassault discloses the split.

How the 7% is built

• Industrial Innovation — 55% of revenue × 8% AI-driven (estimate). 3D design, PLM and manufacturing simulation for aerospace, automotive and industrial customers
• Mainstream Innovation — 27% of revenue × 6% AI-driven (estimate). SOLIDWORKS mechanical design for the mid-market
• Life Sciences — 18% of revenue × 3% AI-driven (estimate). Clinical-trial and regulatory software for pharma

Investment read

Moat. 3DEXPERIENCE with CATIA and SOLIDWORKS at its centre — decade-scale lock-in in aerospace and automotive design, where the platform is the program of record. The life-sciences leg is the weak one rather than a third pillar: MEDIDATA's CRO-driven decline is precisely what the ~$1.8B ArisGlobal acquisition (closing H2 2026) is meant to re-base, toward regulatory-mandated compliance spend.

Bottleneck / pricing power. Moderate-to-strong pricing power from design and PLM lock-in — 3DEXPERIENCE and cloud software each grew 14% in Q2 2026 at a 30.0% non-IFRS operating margin — but headline growth of 3-5% constant currency shows the lock-in defends the base better than it expands it.

Role in the AI stack. The 3D design + simulation + PLM platform layer.

Connected companies

• PTC Inc. (PTC) — DSY competes with: PLM + CAD (PTC Windchill/Creo vs Dassault 3DEXPERIENCE/CATIA)
• Synopsys (SNPS) — DSY competes with: Overlap is multiphysics simulation — Dassault SIMULIA/Abaqus vs Synopsys-owned Ansys — not core EDA
• Autodesk (ADSK) — DSY competes with: design/CAD — Autodesk vs Dassault
• Bentley Systems (BSY) — DSY competes with: Partial overlap — Bentley leads infrastructure/civil engineering software; Dassault leads industrial product design; they meet only in plant/AEC/digital twins

Others in EDA & Engineering Software

• Synopsys (SNPS)
• Cadence Design Systems (CDNS)
• Autodesk (ADSK)
• Bentley Systems (BSY)

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