IMS Research releases report on PSIM software

Report examines growing market for PSIM platforms

Whilst there are a wide number of products that fulfil some of the aforementioned criteria, such as VMS and ACS software, these products are unable to fulfil all of the criteria and are not considered to be PSIM software platforms by IMS Research. By 2014, IMS Research forecasts that the world market for PSIM software will be worth around $200 million. As a point of perspective, IMS Research forecasts that the combined global market for VMS and ACS will exceed $1 billion by 2014. Wong states, "It is important to note that IMS Research has measured the market in terms of PSIM software license revenue; if services, maintenance, design and consulting revenues were added; it is conceivable that the market for PSIM software would exceed $1 billion by 2014."