Simulation and test data management market

Market Insight- Global Simulation and Test Data Management Market

Market Overview

Simulation software refers to a system or method of modeling a real phenomenon with a set of mathematical formulae. In other words, simulation software is a program that enables users to observe an operation through simulation without actually commencing the operation. The primary objective of this software to predict the behavior of a system that can be used to assess a new design, diagnose problem with existing designs, and examine a system under conditions, which are challenging to replicate in reality. Furthermore, test data management software effectively manages the data and process information, which has been generated from test and simulation software. It offers various advantages such as better use of information, faster time-to-market, increasing collaboration within an organization, and low development costs.

The global Simulation and Test Data Management Market is estimated to account for US$ 215.7 Mn in terms of value and is expected to grow at CAGR of 12.5% for the period 2019-2027

Market Dynamics- Drivers

1. Growing investment in simulation and test data management solutions due to loss of data is expected to drive growth of the global simulation and test data management market

Inadequate management of simulation files can lead to loss of data, which results in introduction of errors, which can delay the overall product development process. Moreover, there is a constant risk of data theft since important data and files are shared through email or shared folders. Hence, proper simulation and test management have gained significant traction among companies, in order to enhance productivity and enhance business processes. Thus, these factors are expected to support the global simulation and test data management market growth over the forecast period. For instance, EKM is a CAE data management platform offered by ANSYS, Inc., which utilizes different management techniques such as data mining and search tools in order to enhance its data search capabilities.

2. Increasing demand for analysis and management of data from simulation to gain insights is expected to propel the global simulation and test data management market over the forecast period

A vast amount of data is generated by simulation and testing processes, which necessitates an enhanced data management system. Since this data is essential for the product development process, it relies on 3V, i.e. variety, velocity, and volume. Furthermore, data needs to be saved and separated quickly in an efficient manner, which is a challenging task for design engineers. To manage this increasing volume of data with greater velocity can pose a challenge for design engineers, which is leading to an increase in adoption of simulation and test data management software. Moreover, understanding the variety of data, i.e., structured and unstructured data, is crucial for implementing better decisions while designing products. These factors are expected to boost the global simulation and test data management market growth in the near future.

North America region dominated the global Simulation and Test Data Management Market in 2019, accounting for 35.1%% share in terms of value, followed by Western Europe and Asia Pacific, respectively

Market Dynamics- Restraints

1. Lack of skilled workforce and high deployment costs are expected to restrain the global simulation and test data management market growth over the forecast period

Initial deployment costs required for simulation and test data management is significantly high. It also has long cost-recovery period, which hinders its adoption. Moreover, skilled and experienced individuals are required to operate this software. This, lack of skilled workers and high initial deployment costs are expected to restrain growth of the global simulation and test data management market over the forecast period.

2. Extensive time required for transfer of vast volumes of data from simulation and test data management software to computers is expected to hinder growth of the global simulation and test data management market

Simulation and testing cycles generate a vast amount of data including intermediate files and results, which are input to HPC systems. Transferring files can exert stress on network bandwidth and result in lengthy time-to-market for products. Simulation and test data management systems fail to eliminate these issues. This factor is expected to hamper the market growth in the near future.

Market Opportunities

1. Merging of data management and data analytics techniques is expected to present excellent growth opportunities

The global simulation and test data management market is closed associated with big data analytics market. Incorporating advanced data analytics techniques with simulation and test data management platforms can offer major advantages in saving time to analyze data and derive insights. Furthermore, enterprises offering simulation and test data management platforms can introduce artificial intelligence algorithms such as predictive modelling, text mining, etc. to enhance their product offerings.

2. Offering 3D simulation and testing software to present lucrative growth opportunities in the near future

Advent of next-generation technologies such as virtual and mixed reality in simulation and testing software are expected to change demands from data management platforms. In order to survive these new trends, simulation and test data management systems will require to be incorporated with advanced intelligence technologies.

Market Trends

1. Major companies are offering TDM and SDM applications via cloud platform

Increasing number of companies are providing simulation data management software and test data management software enabled through the cloud so as to make these platforms compatible with future big data systems and existing big data analytics platforms. The model also makes the technology feasible for mid-size and small size manufacturers who do not require to invest in their existing infrastructural capabilities to use these services though it can use SDM and TDM applications enabled through the cloud.

2. Providing data management services through hybrid cloud model

Many data management service providers are focused on integrating hybrid cloud model. For instance, in May 2016, Informatica provided its TDM applications with the help of hybrid cloud through – Vive, virtual data machine (VDM) – which runs on both Informatica cloud and Informatica’s on premise power center. This is a trend and its adoption is expected to increase significantly over the next five years.

Segment information:

In Global Simulation and Test Data Management Market, by vertical, the Automotive segment dominated the global market in 2019, accounting for 33.2% share in terms of value, followed by Aerospace & Defense, Consumer Goods & Retail, Architecture & Construction, Medical, Energy & Utility and Others respectively.

Competitive Section

Key players operating in the global simulation and test data management market are MSC Software Corporation, Siemens PLM Software, Autodesk, Inc., AVL, ESI Group, Informatica, ANSYS Software Pvt. Ltd., IBM Corporation, and Dassault Systèmes: 3D Software Company.

Key Developments

1. Key companies in the market are focused on partnerships and collaborations, in order to gain competitive edge in the market. For instance, in April 2019, MSC Software Corporation partnered with Aras Corporation, a provider of digital industrial applications.
2. Major market players are involved in product launches, in order to enhance their market. For instance, in December 2017, ESI Group, a provider of management software and services, introduced SimulationX 3.9, a software platform for multiphysics system simulation.