CIMdata has just released the CIMdata Simulation and Analysis (S&A) Market Analysis Report which provides information and analysis on the worldwide PLM market.
Dr. Keith Meintjes, CIMdata’s Practice Manager for Simulation and Analysis states that: “Simulation and Analysis is being transformed from a tool that has been the analog of physical test for design validation to an essential capability for up-front product definition verification.
Vendors are responding by rounding out their portfolios with acquisitions and alliances for systems engineering, simulation, materials properties, topology optimization, multiphysics, and other areas of systems design and analysis.”
As shown in the following chart, in 2013, S&A revenues grew to just over $4.3 billion, an increase of 7.1% over the $4 billion in 2012. This growth reflects the increasing importance of S&A as part of product development and the need for companies to deploy better S&A solutions and environments.
CIMdata expects that S&A will be one of the more rapidly growing segments within the tools sector of PLM over the next five years, and forecasts that this sector of the market will exceed $6.2 billion in 2018, with a 7.7% CAGR. For 2014, CIMdata forecasts that the S&A sub-sector will grow 7.5% overall and have revenues of $4.6 billion.
“This segment has been the fastest growing in the PLM market for several years, but slowed in 2013,” Stan Przybylinski, CIMdata’s VP of Research. “It is a good sign when ‘slow’ is 7.1%. There is still room for this segment to grow as more companies in more industries use S&A solutions early in the lifecycle. As products get more complex, these solutions will be even more important.”