DUBLIN — (BUSINESS WIRE) — March 23, 2012 — Research and Markets ( http://www.researchandmarkets.com/research/2d2912a0/global_simulation) has announced the addition of the "Global Simulation and Analysis Software Market 2011-2015" report to their offering.
TechNavio's analysts forecast the Global Simulation and Analysis Software market to grow at a CAGR of 11.4 percent over the period 2011-2015. One of the key factors contributing to this market growth is to improve efficiency and effectiveness of the product development cycle. The Global Simulation and Analysis Software market has also been witnessing availability of software on a rental basis. However, lack of continuous support and maintenance could pose a challenge to the growth of this market.
Commenting on the report, an analyst from TechNavio's Engineering Services team said, Simulation and analysis software provides a collaborated product development cycle, which enhances the efficiency and effectiveness of the organization. Market vendors have started to provide enterprise-wide integrated product development cycles by integrating simulation software with various design software. Therefore, product developers and engineers are able to get control over the entire product development cycle and take preventive action to avoid downtime losses. In addition, integrated simulation and analysis increases communication among product developers and enhances knowledge sharing among product development participants.
According to the report, simulation and analysis software vendors have started to develop their next-generation products, through strategic partnership with leading vendors in the same market. Some of the leading PLM vendors have partnerships with core simulation and analysis software vendors to develop product technology and product distribution, and this strategy would enhance vendors' market position.
Further, the report also discusses various challenges impacting the growth of this market including the increasing concerns about data security in cloud applications.
For more information visit http://www.researchandmarkets.com/research/2d2912a0/global_simulation