Simulation and Test Data Management Market: Global Industry Analysis and Opportunity Assessment, 2016-2026

Simulation or testing is the process of designing a model of an actual or a theoretical physical system to represent important aspects of the real world. These software helps to predict the behaviour of a system, which can be used to evaluate a new design, diagnose problem with existing designs, and test a system under conditions that are difficult to replicate in reality.

FMI forecasts the simulation and test data management market to grow at 12.5% CAGR during the forecast period 2016-2026, and is expected to reach US$ 480.6 Mn in terms of revenues by 2026 end. Software segment is estimated to hold the largest share among the components segment, accounting or US$ 354.7 Mn by 2026, up from US$ 108.8 Mn in 2016.

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Increasing demand for data management software to protect against loss of data generated is one of the main drivers of simulation and test data management market

The simulation and test data management market is anticipated to witness a significant revenue growth during the forecast period, owing to increasing demand for data management software to protect against loss of data generated from simulation and test software, increasing efforts to reduce time-to-market company's product and need to manage and analyse data generated from simulation and test data management software

High development costs associated with simulation and test data management software, coupled with a long recovery period are the major challenges faced by simulation and test data management market.

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Among all the components, software segment is expected to account for maximum market revenue share by 2026, as software being a very important component of this market.

Market in North America region is expected to be the largest revenue generator for simulation and test data management market by 2026, is expected to account for a revenue share of 37.8% by 2026, owing to region being a centre for major companies from automobile, aerospace & defence, and healthcare verticals.

Key players reported in this study on the simulation and test data market include Siemens PLM, AVL, Dassault Systèmes: 3D Software Company, IBM Corporation, MSC Software Corporation, Informatica, ANSYS Software Pvt. Ltd., ESI Group, and Autodesk, Inc. who have significantly increased their footprint in the simulation and test data management market over the years.

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This release was published on openPR.