SIMULATION AND TEST DATA MANAGEMENT MARKET ANALYSIS

Market Challenges And Opportunities

Market Dynamics- Restraints

1. Lack of skilled workforce and high deployment costs are expected to restrain the global simulation and test data management market growth over the forecast period

Initial deployment costs required for simulation and test data management is significantly high. It also has long cost-recovery period, which hinders its adoption. Moreover, skilled and experienced individuals are required to operate this software. This, lack of skilled workers and high initial deployment costs are expected to restrain growth of the global simulation and test data management market over the forecast period.

2. Extensive time required for transfer of vast volumes of data from simulation and test data management software to computers is expected to hinder growth of the global simulation and test data management market

Simulation and testing cycles generate a vast amount of data including intermediate files and results, which are input to HPC systems. Transferring files can exert stress on network bandwidth and result in lengthy time-to-market for products. Simulation and test data management systems fail to eliminate these issues. This factor is expected to hamper the market growth in the near future.

Market Dynamics- Drivers

1. Growing investment in simulation and test data management solutions due to loss of data is expected to drive growth of the global simulation and test data management market

Inadequate management of simulation files can lead to loss of data, which results in introduction of errors, which can delay the overall product development process. Moreover, there is a constant risk of data theft since important data and files are shared through email or shared folders. Hence, proper simulation and test management have gained significant traction among companies, in order to enhance productivity and enhance business processes. Thus, these factors are expected to support the global simulation and test data management market growth over the forecast period. For instance, EKM is a CAE data management platform offered by ANSYS, Inc., which utilizes different management techniques such as data mining and search tools in order to enhance its data search capabilities.

2. Increasing demand for analysis and management of data from simulation to gain insights is expected to propel the global simulation and test data management market over the forecast period

A vast amount of data is generated by simulation and testing processes, which necessitates an enhanced data management system. Since this data is essential for the product development process, it relies on 3V, i.e. variety, velocity, and volume. Furthermore, data needs to be saved and separated quickly in an efficient manner, which is a challenging task for design engineers. To manage this increasing volume of data with greater velocity can pose a challenge for design engineers, which is leading to an increase in adoption of simulation and test data management software. Moreover, understanding the variety of data, i.e., structured and unstructured data, is crucial for implementing better decisions while designing products. These factors are expected to boost the global simulation and test data management market growth in the near future.

Market Opportunities

1. Merging of data management and data analytics techniques is expected to present excellent growth opportunities

The global simulation and test data management market is closed associated with big data analytics market. Incorporating advanced data analytics techniques with simulation and test data management platforms can offer major advantages in saving time to analyze data and derive insights. Furthermore, enterprises offering simulation and test data management platforms can introduce artificial intelligence algorithms such as predictive modelling, text mining, etc. to enhance their product offerings.

2. Offering 3D simulation and testing software to present lucrative growth opportunities in the near future

Advent of next-generation technologies such as virtual and mixed reality in simulation and testing software are expected to change demands from data management platforms. In order to survive these new trends, simulation and test data management systems will require to be incorporated with advanced intelligence technologies.