CIMdata Publishes Simulation and Analysis Market Report

ANN ARBOR, Mich. - July 11, 2023 - PRLog -- 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 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.

"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."

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: http://www.cimdata.com/en/research/plm-market-analysis-re....