About the Study:

Lifecycle Insights conducted the Simulation Process and Data Management Quantitative Study. The goal is to identify the company’s process regarding managing simulation data and its link to CAD/Product design/Product development. In addition, the study sought insight into quantifying the impact of not connecting the simulation data with PLM and enumerate the hurdles faced when implementing simulation in the product development process and the steps to overcome them. Survey respondents originated mainly from North America and represented numerous industry verticals.

Study Demographics:

The findings of this study were based on 199 respondents spread across the following industries:

Transportation and Mobility (6%)
Heavy Equipment (12%)
Aerospace (17%)
Medical Devices (7%)
High Tech and Electronics (36%)
Industrial Machinery(16%)
Process Manufacturing(7%)

Respondents’ company revenues varied widely, but most were between $1B and $2B (49%), between $500M to $1B (22%), $2B to $5B (21%), and over $5B (8%).

Methodology:

Lifecycle Insights employed its proven benchmarking methodology in this quantitative research study. This methodology includes:

  • the development of a neutral-language survey instrument that captures an accurate, impartial state of the industry for the given program’s scope using Lifecycle Insights’ best practices and library of questions;
  • the careful recruitment and screening of qualified respondents that represent the target stakeholders for this program’s parameters using Lifecycle Insights’ third-party partnerships;
  • the review, cleansing, and validation of respondent’s answers using Lifecycle Insights’ internal flagging system;
  • the explorative development of indices and cohort definitions to iteratively isolate correlated sets of performance and practices using Lifecycle Insights’ benchmark approach; and
  • the calculation, analysis, and group review of the study’s findings to vet and distill takeaways using Lifecycle Insights’ processes and procedures.