Virtual Prototyping and Simulation Market Poised for Significant Growth
[ Back ]   [ More News ]   [ Home ]
Virtual Prototyping and Simulation Market Poised for Significant Growth

Category 2002 (Est Sales and Service) 2003 Forecast
PLM Market $7.49 billion
(down 5% from 2001)
$7.84 billion
(up 5% from 2002)
Mechanical CAD/CAM $4.37 billion
(down 10% from 2001)
$4.51 billion
(up 3% from 2002)
Virtual Prototyping + Simulation $1.53 billion
(up 1% from 2001)
$1.64 billion
(up 7% from 2002)
Systems Performance Modeling $794 million
(up 8% from 2001)
$865 million
(up 9% from 2002)
Structural Analysis $725 million
(down 6% from 2001)
$766 million
(up 6% from 2002)
source: Daratech (2/28/03)

It may represent only a subset of the product lifecycle management (PLM) sector, but in the increasingly important area of virtual prototyping and simulation, the growth opportunities are significant, with analysts estimating an average annual growth rate of 11.5% over the next five years to reach nearly $2.5 billion in 2007. In particular, systems performance modeling (defined as the segment of the digital prototyping and simulation market that includes solvers plus pre-and post-processors for CFD, crash, dynamics and motion, forging and mold design, durability and fatigue, heat transfer and thermal interactions, NVH (noise, vibration, and harshness), and control systems design, as well as analysis optimization, process modeling and results visualization) will enjoy vigorous growth of 14% annually over the next five years, topping $1.4 billion in 2007, according to Daratech, the Cambridge, MA-based market research and technology assessment firm.

Factors driving growth in this breakout segment of the digital prototyping (CAE) market include: the pressures on manufacturers to spend less on product development and shorten time-to-market by reducing physical prototype counts. According to Daratech, also spurring investment in digital prototyping is the rapidly improving price/performance of high-performance computers, together with better-quality deployment, implementation and training, as well as growing user and management confidence in simulation accuracy and correlation with physical test results.

The bottom line? There's "money to be made and money to be saved" using the latest virtual prototyping and simulation tools, particularly with respect to bridging the worlds of physical and virtual test. In this area, the companies to watch include: MSC Software (which acquired market leader, Mechanical Dynamics, Inc. last year), LMS International, ESI Group, ANSYS Corp., MTS Systems Corporation, Fluent, Altair Engineering, and CFX (recently acquired by ANSYS Corp.) as well as the leading CAD/CAM, CAE PLM providers - IBM/Dassault Systemes, EDS-PLM Solutions, and PTC.

Interested in learning more? Mark your calendars for the upcoming conference, daratechiDPS2003-- Intelligent Digital Prototyping Strategies, currently scheduled for June 9-10, 2003 in Novi, MI.

Another valuable source of information about this topic is the online resource, SmartSim Community, launched by MTS Systems Corporation, Mechanical Dynamics Inc. (MDI) and nCode International. Created in response to the automotive industry's demand for accelerated vehicle performance evaluation, the SmartSim Community was established by its founders to research and develop effective methods for sharing and using engineering data through integrated physical and virtual prototyping.

Comments? Feedback? Email Contact to tell us what you think about this topic or if you have additional information you'd like to share on this subject!

Amy Rowell is the managing editor of MCADCafe, and the editor of MCAD Weekly Review.

p.s. This week, March 3-6th, 2003 MCADCafe will be attending the National Design and Engineering Show (NDES), in Chicago. So stay tuned for important industry announcements and product news, as well as additional coverage and conference highlights.

Top Stories Product and Company News [ more MCAD News]

Special Notices Customer Wins White Papers Recommended Reading

Immersive Visualization of Virtual Prototypes
by Louise Elliott. Advanced virtual prototyping and visualization technology are changing the way complex assemblies get done

Desktop Engineering, February 2003


Cool Tools for Hot Jobs
by Paul Teague. Electronics are hot. And as their uses grow, software is helping engineers solve the problems electronics present

Design News, February 17, 2003


CAD Five Years Down the Road
by John Connolly. Where will CAD creators concentrate their future developmental efforts and what can the rest of us expect?

Time Compression Technologies, January 2003


[ more Recommended Reading]

Events

National Manufacturing Week, 3-6 March 2003, Chicago, IL

SAE 2003 World Congress 3-6 March 2003, Cobo Center, Detroit, Michigan, USA

Six Sigma in the Design Process 10-13 March 2003. This online course illustrates how to use Design for Six Sigma strategies, and how companies can enhance the performance and quality of their products. Offered in two online sessions. Attendees choose: Session 1 - March 10 or 11, Session 2 - March 12 or 13.

VirtualMCAD Conference and Exhibit 2003, 14 - 16, October 2003. Register Now! You won't want to miss out on this FREE online MCAD conference and tradeshow sponsored by MCADCafe!

Westec '03, 24-27 March 2003, Los Angeles, CA

COE Spring 2003 Conference & TechniFair, 30 March - 2 April 2003, New Orleans, LA

Fuel Cell Vehicles: The Road to Commercialization TOPTEC April 8-9, 2003, Ritz Carlton, Dearborn, MI. This two-day TOPTEC will discuss the industry, government, and customer perspectives on the status and continuing R&D for the commercialization of fuel cell powered automobiles. (Note: TOPTECs are one- to three-day TOPical, TEChnical symposiums, workshops, or forums that focus on emerging technologies, new applications to emerging technologies, or other expanded technical subjects.)

2003 PLM Vendor Forum -- 10 April 2003, Detroit, MI. Sponsored by CIMdata, this forum is designed to provide critical market and business information to technology and service suppliers of Product Lifecycle Management (PLM) solutions.

"Inside Design Now" 22 April - 3 August 2003, The Smithsonian Institution's Cooper-Hewitt National Design Museum, New York City. This exhibit is a critical overview of leading developments in contemporary American architecture and design over the last three years. On view will be the works of 80 designers and firms with over 300 objects, models, photographs, films and renderings. For information call 212.849.8400 or visit www.si.edu/ndm.

PLM World '03, 28 April - 2 May, Anaheim, CA. PLM World, an open forum for users of EDS Unigraphics, Metaphase, I-DEAS and iMAN software, is a non-profit group intended to promote the exchange of ideas concerning the EDS product environment.

Rapid Prototyping and Manufacturing: Advanced Product Development Solutions Conference and Exposition, 12 - 15 May, 2003, Hyatt Regency, Chicago. Sponsored by the Society of Manufacturing Engineers (SME) at the Hyatt Regency in Chicago. For more information: phone: 800.733.4763; website: www.sme.org/rapid

COFES2003: 4th Annual Congress on the Future of Engineering Software, 15-18 May 2003, Scottdale, AZ

2003 PLM Vendor Forum -- 21 May 2003, Paris, France. Sponsored by CIMdata, this forum is designed to provide critical market and business information to technology and service suppliers of Product Lifecycle Management (PLM) solutions.

daratechiDPS2003-- Intelligent Digital Prototyping Strategies June 9 - 10, 2003. Novi, Michigan. daratechiDPS2003 will update product development and engineering executives on the changing role of digital prototyping and simulation, explore how industry leaders are managing the tradeoffs between physical test and measurement and digital prototyping, and identify the business and technical case for investing in these technologies and processes.

2003 International Forum on DFMA June 17-18, 2003. Newport, RI. Sponsored by Boothroyd Dewhurst, Inc. The International Forum on DFMA (Design for Manufacture and Assembly) is the foremost conference worldwide on early design analysis methodologies and implementation. Conference papers will discuss specific product development programs and examine cost reductions and efficiency gains at some of the world's leading manufacturing companies, such as Raytheon, Hewlett-Packard Company, Harley-Davidson Motor Company, and Visteon Corporation, among others.

CIMdata PLM Conference June 23-25, 2003. Detroit, MI. "Unleashing the Value of Your Intellectual Assets." At PLMconference2003, attendees will be provided with a total view of the PLM picture including an industry vision, available opportunities, strategies for solution selection and implementation, roadmaps to move forward, pitfalls to avoid, and direction to help maximize the value and benefits of their investment.

[ more Events]

Rating: