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Global Simulation and Test Data Management Market: Booming Trends and Forecast Assessment for the Period 2019– 2026

Jan 28th 2019 at 6:17 AM

Market Research Reports Search Engine (MRRSE) has recently updated its massive report catalogue by adding a fresh study titled “Global Simulation and Test Data Management Market: Booming Trends and Forecast Assessment for the Period 2019– 2026”. This business intelligence study encapsulates vital details about the market current as well as future status during the mentioned forecast period of 2026.The report also targets important facets such as market drivers, challenges, latest trends, and opportunities associated to growth of manufacturers in global market for (Global Simulation and Test Data Management Market). Along with these insights, the report provides the readers crucial insights on the strategies implemented by leading companies to remain in the lead of this competitive market.

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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. Simulation or test data management software effectively manage data and process information that has been generated from simulation and test software, which offers benefits such as faster time-to-market, better use of information, lowers development costs and increases collaboration within an organization.

FMI forecasts the simulation and test data management market to grow at 12.5% CAGR during the forecast period 2019-2026, 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 2019.

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 etc. Moreover, demand from verticals such as automotive, aerospace & defence etc. is expected to increase as simulation and testing software are already used on wide scale in these verticals and thus there is a greater need to have a data management software.

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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. Transferring large amount of data from simulation and test data management software to computers can be a time consuming process, which is another challenge for the adoption of this technology.

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. In software sub-segment, hosted software category is expected to witness highest growth rate during forecast period, followed by on-premise software.

In the vertical segment, aerospace & defence vertical is expected to increase at highest growth rate during the forecast period, followed by automotive vertical. Increasing expenditure on aerospace & defence verticals by major countries is expected to drive the demand for this verticals.

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. Region-wise, Asia Pacific excluding Japan (APEJ) is expected to be the second largest market in simulation and test data management market with market revenue expected to be valued at US$ 119.8 Mn by 2026.

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.

Some of the companies such as Siemens PLM and Dassault Systèmes: 3D Software Company are providing integrated simulation and data management software as a single solution, to consolidate their position in the market. Companies such as Informatica are providing test data management software with the help of hybrid cloud, offering a combination of on premise and hosted services.

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