Simulation and Test Data Management Market By Solution (Testing Systems, Test Data Simulation Software, Services), Enterprise Size (Small & Medium Enterprises, Large Enterprises), Industry (Automotive, Aerospace & Defense, Healthcare, Building & Construction, Energy & Utilities, Electronics & Hi Tech) & Region – Forecast 2021 – 2031

About the Report

The demand for test data simulation software, which can manage and analyze data generated from simulation, is expected to rise in the coming years. The simulation and test data management market is projected to gain from the growing need for reliable and cost-effective simulation services, reduced time-to-market by simulation and data management software, and improved quality of services.

In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for simulation and test data management market. The report tracks the global sales of simulation and test data management providers in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the automotive industry in general, and simulation and test data management software and services in particular.

How Do Historical and Future Outlook for Simulation and Test Data Management Market Match Up?

The report predicts the global simulation and test data management to expand from US$ 525.5 Mn in 2021 to US$ 2.06 Bn by 2031. In the past few years, the simulation and test data management market has gained immensely due to improvements in cloud deployment model and technology.

Poor management of simulation files can lead to loss of data and hence result in the errors, which can delay the overall product development process. Moreover, sharing important data via mail or shared folders could lead to security breaches, such as data theft. Therefore, proper simulation and test data management is often considered imperative companies aiming at improving productivity and enhance business processes.

How the Simulation and Test Data Management Enables Companies To Reduce Time-To-Market?

Saving data after every simulation cycle can result in a vast number of files. Moreover, multiple simulations of a file can create copies, which can cause confusion among engineers when looking for the final version of the simulation file.

This also might hamper the product development process. Improper management of data is a major factor leading to delay in time-to-market. Therefore, companies are expected to increase their spending on simulation and test data management to accelerate their product delivery process.

SimManager, a simulation, and test data management system for CAE simulation, offered by MSC Software Corporation helps design engineers save time in product development. Several other providers have been offering technologies to enable more seamless operations across organizations. Their efforts are expected to bode well for the market.

Are Technological Advancements Increasing Simulation and Test Data Management Component Sales?

The demand for developments and implementation of new technologies/solutions such as cloud deployment models, advanced data analytics technologies, and digital twin simulations technology is rising consistently within enterprises. Advantages such as improved efficiency in the maintenance and retrieval of stored data, low cost, faster deployments, and process automation applications, and the ability to integrate with various cloud technology offered by simulation and test data management solutions are aiding expansion of the market.

The integration of technologies such as the Internet of Things (IoT), machine learning, artificial intelligence (AI), and others are expected to lead to the development of simulation and test data management solutions with better capabilities and improved performance. This will create prospects for growth in the near future.

Why Mergers & Acquisition is Key to Market Consolidation?

Simulation and test data management software and service providers have a strong focus on inorganic investments in technology and innovation. They are continuously focusing on acquiring technologies that will help them expand their portfolio.

Over the last few years, vendors have completed various acquisitions to complement their solution offerings and footprint in lucrative markets. Mergers & acquisitions continue to remain a key trend as market players seek competitive advantage. For instance, In October 2019, Dassault Systèmes announced the completion of its acquisition of Medidata Solutions, Inc., whose clinical expertise and cloud-based solutions power the smarter development and commercialization of treatments. This acquisition helped Dassault Systèmes to lead the digital transformation of life sciences in the age of personalized medicine and patient-centric experience through a new world of virtual twin experiences.

What are the Key Challenges for Simulation and Test Data Management Providers?

High deployment costs and lack of skilled workforce are among key challenges faced by market players. Transferring a large volumes of data from simulation and test data management software to computers can be a time consuming process. This continues to create obstacle for the market.

Country-wise Insights

How Big is the Opportunity in U.S.?

North America will remain the largest market for simulation and test data management. The strong presence of simulation and test data management solutions and service providers will continue supporting growth in this region. This is attributable to the increase in demand for simulation and test data management from various industries such as automotive, aerospace & defense, healthcare, and building & construction, among others.

According to the report, the overall simulation and test data management spending in the United States alone is likely to increase by 10.6% between 2021 and 2031, enabling the market value to surpass US$ 142 Mn by 2021.

Furthermore, the U.S. holds dominance in the global simulation and test data management space, accounting for around 25%-30% of the market share in 2021. This growth can be majorly attributed to an increase in R&D in the automotive and aerospace and defense sector. Continuous focus on product innovation among major players in the U.S. will seal the dominance of the country within North America.

Is Germany a Lucrative Market for Simulation and Test Data Management?

The adoption of simulation technology is expected to rise considerably across small- and medium-sized businesses in Germany. Integration of simulation and data management technologies and increasing demand for simulation and test data management for product design and development are creating attractive scope across Europe, especially in Germany.

The market is expected to show sustainable growth owing to investments by international players such as Dassault Systemes SA, Hexagon AB, and Siemens AG, among others, in the country. Government initiatives will continue to support the growth of this market. Europe is identified by FMI as the second-leading market, a position it is likely to hold on to through the forecast period.

Why is Demand for Simulation and Test Data Management Surging in China?

China, Japan, and India are offering attractive opportunities for the growth of the simulation and test data management market. Expansion of automotive and electronics & Hi-Tech industries and their aim towards strengthening operations will create sales opportunities for simulation and test data management providers in China. Simulation and test data management offer various benefits for the automotive and electronics & Hi-Tech industry such as full vehicle systems, power train systems, data capture, and management of new design and process automation applications. 

China is projected to create a total incremental $ opportunity of around US$ 151.7 Mn by 2031. China has built a wide-ranging digital infrastructure to improve engagement with customers and employees and provide an unrivaled customer experience. Sales in East Asia highly depend on the growth of the electronics & Hi-Tech and automotive sectors, where simulation and test data management are extensively used.

How is Simulation and Test Data Management Adoption Faring in India?

The South Asia & Pacific market is offering substantial growth opportunities for the simulation and test data management providers. Growth registered in the region is supported by rising demand in in industries such as aerospace and defense, oil & gas, and healthcare. India has emerged as an exceptionally lucrative market within the region, thanks to efforts dedicated towards empowering industries.

As per the report, India is expected to offer incremental opportunities of more than US$ 219 Mn by 2031.

The growth of the simulation and test data management market in India is attributable to the growth of the automobile industry and the increasing adoption of new and innovative technologies such as cloud deployment and big data in this country. Moreover, established simulation and test data management solution providers enter into partnerships with local companies in India to offer improved software and services to customers in the country.

Category-wise Insights

Why is the Demand for Simulation and Test Data Management Software Increasing?

In terms of component, the market is segmented as testing systems, test data simulation software, and services. Of these, the services segment is forecast to exhibit a relatively higher CAGR of 17.3% during the forecast period. The test data simulation software segment yet held dominance, accounting for 45.5% of the market in 2021.

Ttest data simulation software offer different features such as cost-effective development of process simulation models, flexible simulation data visualization tools, non-intrusive process simulation, and stable operation testing. The reliability of such features is driving demand across regions.

Why Small & Medium Enterprises (SMEs) Segment has Highest Market Growth?

Among enterprise size segment, the small & medium enterprises (SMEs) segment is expected to register a higher CAGR of 16.7% during the forecast period. Also, the small & medium enterprises (SMEs) segment is expected to create an incremental opportunity of above US$ 781Mn between 2021 and 2031.

Moreover, simulation and test data management solutions are considered ideal for SMEs businesses requiring highly scalable and customizable data profiling & analysis and data compliance and security capabilities that integrate with the organization’s apps, products, and services. Such factors boost the small & medium enterprises (SMEs) segment in the market.  

Why is Demand for Simulation and Test Data Management Rising from the Aerospace and Defense Industry?

Some of the industries exhibiting high demand for advanced internet and cloud solutions are automotive, aerospace and defense, healthcare, building & construction, energy and utilities, electronics, and Hi-Tech, among others. Simulation and test data management systems are increasingly used in the aerospace and defense industry, to reduce the number of prototypes and product development time.

In the aerospace & defense industry, finite element analysis is a popular method to analyze the behavior of different parts under varying types of stress. Proper management of this data is important for saving time in building future prototypes and deriving meaningful insights.

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Competitive Landscape

The introduction of new solution and strategic partnerships are key strategies followed by top players in the simulation and test data management landscape, to increase their business revenue. Simulation and test data management providers are focusing on innovation in software/services to keep pace with evolving technology needs.

For instance, in February 2021, HGL Dynamics launched the Torsion Add-On 3.0 for universal testing systems. It redesigned to take advantage of the latest functionality offered by the new HGL Dynamics 6800 Series, this system offers a simpler, safer, and more intuitive user experience.

Some of the players are focusing on strategic partnership with other consulting and systems integrator for the development of new technologies and solution. For instance, In October 2020, Razorleaf Corporation, a leading PLM consulting and systems integrator, announced a strategic service partnership with Ansys Inc. for the Minerva platform powered by Aras, a centralized simulation knowledge management application. This platform secures critical simulation data and provides process and decision support to simulation teams across geographies and functional silos.

Some of the leading companies operating in the market are:

• Siemens AG
• ANSYS, Inc.
• Dassault Systèmes SE
• HBK – Hottinger, Brüel & Kjaer
• Hexagon AB
• Instron
• Zwick Roell Group
• Dewesoft
• ESI Group
• DynamicSignals LLC
• FEV Europe GmbH

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.

Scope of the Report

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• What are the sources of secondary research?

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Simulation and Test Data Management by Category

Solution

• Testing Systems
  • Structural Durability Testing Systems
  • Fatigue Testing Systems
  • Data Acquisition Systems
  • Others
• Test Data Simulation Software
  • Data Acquisition (DAQ) Software
  • Integrated Simulation Software
  • API Security Testing Tools
  • Test Specimen Protect Software
  • Others
• Services
  • Design & Engineering Services
  • Consulting Services
  • Training & Learning Services
  • Support Services

Enterprise Size

• Small & Medium Enterprises
• Large Enterprises

Industry

• Automotive
• Aerospace & Defense
• Healthcare
• Building & Construction
• Energy & Utilities
• Electronics & Hi Tech
• Others

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East and Africa (MEA)