Monday, May 20, 2024

CIMdata Publishes 2023 Simulation and Analysis Market Report

ANN ARBOR, MI, USA, Jul 13, 2023 – CIMdata, Inc., the leading global PLM strategic management consulting and research firm, announces the release of the CIMdata Simulation and Analysis (S&A) Market Analysis Report. This report expands on the S&A market analysis conducted as part of the CIMdata 2023 PLM Market Analysis Report Series. The well-known PLM MAR Series provides detailed information and in-depth analysis of the worldwide PLM market during the calendar year 2022. It contains analyses of major trends and issues; revenues of leading PLM providers; and revenue analyses for geographical regions, industry sectors, and historical and projected data on market growth. The 2023 S&A MAR is a 130-page report containing over 50 tables and charts of data detailing the worldwide S&A market along a number of dimensions. It also includes an update on CIMdata’s S&A segmentation, a discussion of trends in the S&A industry, and updates on the top S&A solution providers.

According to Mr. Don Tolle, CIMdata’s Practice Manager for Simulation-Driven Systems Development, “Detailed 3D geometric modeling, simulation, and analysis for virtual prototyping and verification/validation (i.e., working along the right side of the systems engineering Vee) still accounts for the majority of the S&A market segment revenues. But to support the development and lifecycle support for smart, connected products, systems-level behavior modeling, simulation, and analysis are increasingly recognized as must-have core competencies to enable digital transformation based on model-based systems engineering throughout the lifecycle and across engineering domains. Physics-based digital twins and real-time data analytics using IoT-enabled smart systems are being enhanced by new artificial intelligence/machine learning capabilities. These enhanced solutions offer unprecedented product performance knowledge about today’s complex products when deployed and as used. Both end users and design engineers can benefit from this augmented product performance knowledge. Users, in how best to optimize their product use and effectiveness in service. And design engineers who can now leverage this knowledge to create innovative new products to meet ever more demanding customer and regulatory requirements, including environmental sustainability.

S&A Market History and CIMdata Growth Estimates

“To meet these industry challenges, there is a strong industry focus on creating standards-based, collaborative product innovation platforms that enable cross-domain digital process threads (including mechanical, electronics, software, controls, chemistry, materials, and other physics) that can be shared, continuously improved, and managed throughout the product development lifecycle. The major software and services solution providers spanning the mechanical and electronics domains are investing heavily in R&D to create new model-driven, integrated MBSE, PLM, and S&A capabilities and adding new leading-edge technologies by acquiring or partnering with smaller, innovative S&A solution providers. The convergence of physics-based S&A capabilities across the mechanical and electronics domains is a topic highlighted again in this year’s report as EDA companies invest in physics-based S&A capabilities and the traditional cPDm/MCAD/S&A companies invest in electronic systems design capabilities.”

As shown in the following chart, in 2022, S&A revenues grew to just over $9.2 billion, an increase of 10.9% over the $8.3 billion in 2021. According to Mr. Stan Przybylinski, CIMdata’s Vice President, “S&A continues to move ‘up front’ in the product development process, helping companies evaluate multiple design concepts and optimize performance before committing to the final hardware and software design. CIMdata sees more interest in model-based approaches in a wide range of industries, helping them meet the challenges of developing, testing, and deploying smart, connected products. In addition, mergers and acquisitions (M&A) to expand their solution set continue, providing significant cross-selling opportunities. This should help drive increased S&A investment.”

CIMdata expects the PLM market overall to continue its strong growth but at different rates for the different segments. For 2023, CIMdata forecasts that the S&A sub-sector will grow 9.2% overall and have revenues of just under $10.1 billion. CIMdata expects that S&A will be one of the fastest growing segments within the tools sector of PLM over the next five years, reaching nearly $14.9 billion in 2027, with a 10% CAGR.”

The 2023 CIMdata S&A Market Analysis Report is available for purchase at: https://www.cimdata.com/en/research/plm-market-analysis-report-series.

About CIMdata

CIMdata, an independent worldwide firm, provides strategic management consulting to maximize an enterprise’s ability to design, deliver, and support innovative products and services by identifying and implementing appropriate digital initiatives. For nearly forty years, CIMdata has provided industrial organizations and providers of technologies and services with world-class knowledge, expertise, and best-practice methods on a broad set of product lifecycle management (PLM) solutions and the digital transformation they enable. CIMdata also offers research, subscription services, publications, and education through certificate programs and international conferences. To learn more, visit www.CIMdata.com or email info@CIMdata.com.

Nitin Patil
Nitin Patil
Editor and Director of Content, DailyCADCAM.com. Nitin completed his Master's in Mass Communication & Journalism and having 13 years of work experience as an editor, content writer with renowned international technical magazines and media companies. He is associated with CAD,CAM industry since 2008.
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