The CMS full simulation using Geant4 has delivered billions of simulated events for analysis during Runs 1 and 2 of the LHC. However, the HL-LHC dataset will be an order of magnitude larger, with a similar increase in occupancy per event. In addition, the upgraded CMS detector will be considerably more complex, with an extended silicon tracker and a high granularity calorimeter in the endcap region. Increases in conventional computing resources are subject to both technological and budgetary limitations, so novel approaches are needed to improve software efficiency and to take advantage of new architectures and heterogeneous resources. Several projects are in development to address these needs, including the vectorized geometry library VecGeom and the GeantV transport engine, which uses track-level parallelization. The current computing performance of the CMS simulation will be presented as a baseline, along with an overview of the various optimizations already available for Geant4. Finally, the progress and outlook for integrating VecGeom and GeantV in the CMS software framework will be discussed.