The life of a product is ultimately determined by its alignment to market needs, the level of quality, delivery time-to-market, and cost. But most companies struggle to deliver on these objectives profitability.
Leaders in the space have turned to multiphysics simulation, enabling them to move nimbly through their product design process without overspending on overhead. And the benefits far outweigh the start-up cost or setup in the long run by providing a risk-free, low-cost environment that allows designers to consider hundreds, if not thousands, of iterations of the same design.
As shown in the figure above, 79% of our multiphysics respondents said that their top action to improving product behavior assessment was to use simulation earlier in the development process. Simulation use can be seen in three out of the four actions listed above; combine more physics into analyses (55%), capture expertise of simulation experts (44%), and invest in hardware infrastructure to support simulation.
Survey respondents were divided into two maturity classes — Leaders (top 20%) and Followers (bottom 80%). These classes were made based on five organizational performance metrics: quality, product launch dates met, product cost targets met, product revenue met, and change in length of development time (increase or decrease). Respondents were asked to identify the frequency at which products met these targets in the past two years. The figure below highlights the performance of the two maturity groups.
Multiphysics Leaders consistently outperformed their peers. They met their targets by almost 20% in quality, launch, cost, and revenue metrics. And they were also able to decrease their development time by almost double that of multiphysics Followers.
For more on how companies are streamlining their most complex processes to develop, launch, and manage products more effectively, read the full report.