July 2, 2019
CIMdata, Inc. announces the release of the CIMdataSimulation and Analysis (S&A) Market Analysis Report. This report deepens the S&A market analysis conducted as part of the CIMdata 2019 PLM Market Analysis Report Series.
The PLM MAR Series provides detailed information and in-depth analysis on the worldwide PLM market during calendar year 2018. 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 2019 S&A MAR is a 100+-page report containing 40 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.
“While detailed 3D modeling, simulation and analysis for virtual prototyping and verification/validation still makes up the majority of the S&A market segment, systems-level behavior modeling, simulation, and analysis are increasingly recognized as must-have core competencies to enable the digitalization of product development, manufacturing, and in-service lifecycle operations by leveraging physics-based Digital Twins,” says Don Tolle, CIMdata's practice manager for Simulation-Driven Systems Development.
“To meet these industry challenges, there is a strong industry focus on creating 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,” Tolle says. “The major software and services solution providers are investing heavily in R&D to create new model-driven, integrated MBSE, PLM and S&A capabilities as well as adding new leading-edge technologies by acquiring or partnering with smaller, innovative solutions providers.”
“Looking forward, democratization of collaborative model-based engineering approaches based on open platforms, role-specific user interfaces, and data interoperability standards will allow a true systems engineering approach from product ideation through detailed development, verification and validation, manufacturing, in-service operations and ultimately support for reuse, recycling and end of life.”
As shown in the following chart, in 2018 S&A revenues grew to nearly $6.5 billion, an increase of 13.1% over the $5.7 billion in 2017.
“While the S&A segment has been the star of PLM in terms of growth since 2010, 2018 was an outstanding year for the segment,” according to Stan Przybylinski, CIMdata's VP of Research. “CIMdata believes S&A is continuing to move 'up front' in the product development process (i.e., to the 'left' side of the Systems Engineering Vee), helping companies evaluate multiple design concepts and optimize performance before committing to the final hardware and software design.
“Growth was broad-based and the public S&A solution providers expect another strong year in 2019 based on their revenue guidance to Wall Street,” he adds. “CIMdata expects that S&A will continue to be one of the more rapidly growing segments within the tools sector of PLM over the next five years, and forecasts that this market sector will reach nearly $11 billion in 2023, with an 11.1% CAGR. For 2019, CIMdata forecasts that the S&A sub-sector will grow 11.6% overall and have revenues of just over $7.2 billion.”
Sources: Press materials received from the company and additional information gleaned from the company’s website.