The simulation and test data management market is projected to grow from $148M in 2016 to $480.6M by 2026, driven by software demand and industry needs.
Future Market Insights (FMI) delivers key insights on the global simulation and test data management market in its latest report titled, “Simulation and Test Data Management Market: Global Industry Analysis and Opportunity Assessment, 2016-2026”. The simulation and test data management market is anticipated to grow from US$ 148 Mn in 2016 to US$ 480.6 Mn by 2026, expanding at a CAGR of 12.5% in terms of revenue during the forecast period (2016-2026). In this report, the simulation and test data management market is tracked in terms of value, and is calibrated to obtain the market revenue estimates.
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 analyze data generated etc. are major factors driving the growth of simulation and test data management market. However, high development costs associated with simulation and test data management software coupled with a long recovery period and transfer of large amount of data from simulation and test data management software to computers are major challenges faced by market players in the simulation and test data management market.
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Segmentation highlights
To understand and assess the demand and opportunities in this market, the report is categorically split into three major sections, namely market analysis – by component, by vertical, and by region.
The section – market analysis, by component, comprehensively analyses the market on the basis of component and presents an in-depth analysis of the market in terms of value for 2016-2026. In 2015, software component segment dominated the simulation and test data management market, followed by services component segment.
Moreover, in terms of revenue, software component is anticipated to expand at the fastest CAGR of 12.5% over the forecast period, followed by services component segment.
Software component segment has been further segmented on the basis of deployment- hosted and on premise, where on premise sub-segment dominated the simulation and test data management market, followed by hosted sub-segment of software segment.
Moreover, in terms of revenue, hosted sub-segment is anticipated to expand at the fastest CAGR of 14.5% over the forecast period in the simulation and test data management market.
The section – market analysis by verticals, analyses the simulation and test data management market on the basis of verticals and the data is provided in terms of value for 2016-2026. The aerospace & defense segment is expected to expand at the highest CAGR of 13.7% in terms of value during the forecast period.
In terms of market share, automotive vertical segment accounted for a major percentage of the revenue share of the overall market in 2015 and is expected to dominate the simulation and test data management market throughout the forecast period, followed by aerospace & defense and consumer goods & retail vertical segment.
Regional projections
The section – market analysis by region, includes an in-depth country level analysis of all global regions namely North America, Latin America, APEJ, Japan, Eastern Europe, Western Europe and Middle East & Africa by component, vertical and countries; and provides market data in terms of value for 2016-2026. In 2015, market in North America region dominated the overall simulation and test data management market, followed by Western European region. The simulation and test data management market in APEJ market is expected to expand at the highest CAGR over the forecast period, followed by North America and Western Europe respectively.
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Vendor insights
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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The article discusses the growth of the simulation and test data management market, projected to reach $480.6M by 2026.
Increasing demand for data management software and efforts to reduce time-to-market are key drivers.
North America dominated the market in 2015, followed by Western Europe.
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