Parallels Desktop is described as 'Virtualization tool enabling seamless operation of Windows and Linux on Mac. Support for Windows 11 on Apple Silicon with resource customization' and is a very popular compatibility layer tool in the network & admin category. There are more than 50 alternatives to Parallels Desktop for a variety of platforms, including Linux, Mac, Windows, BSD and Android apps. The best Parallels Desktop alternative is VirtualBox, which is both free and Open Source. Other great apps like Parallels Desktop are Wine, WinBoat, QEMU and VMware Workstation Pro.
it's not an emulator, but a simulator