CIMdata Releases 2023 Simulation & Analysis Market Report

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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 life cycle. 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.

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 subsector 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.

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CIMdata Releases 2023 Simulation & Analysis Market Report

Forecasts S&A subsector to grow 9.2% in 2023

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

“But to support the development and life cycle 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 life cycle 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.”

“S&A continues to move upfront in the product development process, helping companies evaluate multiple design concepts and optimize performance before committing to the final hardware and software design,” says Stan Przybylinski, CIMdata vice president. “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) efforts to expand their solution set continue, providing significant cross-selling opportunities. This should help drive increased S&A investment.” 

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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.

S&A market history and CIMdata growth estimates

The report 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 more than 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.

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.