Computer Aided Engineering Market Exhibits Stupendous 9% Growth Through 2029
The global shift from physical modelling to virtual prototyping is a result of the prevalence of computer aided engineering services.
Today, organizations of all sizes leverage advanced cloud computing to map, create, and reiterate manufacturing environments.
Such exercises in production planning garner customer preference amid benefits such as cost efficiency, proof of concept, and reduction in product recalls.
The global computer aided engineering market will grow 2.4X during the forecast period (2019-2029). Stiff competition across industries warrant the use of technology to ensure sufficient testing of product prototypes before beginning full scale production.
The lack of brand loyalty among millennial consumers motivates organizations to employ computer aided engineering services to design unique, attractive, and engaging products.
By deployment, on premise computer aided engineering services are forecast to witness resilient growth through 2029. Cloud based services are following close behind as they are gaining significant traction on back of their environmental proactivity and ability to power virtual services.
Finite Element Analysis to Remain in the Lead
Finite Element Analysis (FEA) will grow two folds during the forecast. This is credited to benefits of this type of computer aided engineering such as ease of modeling complex geometrical shapes, adaptability, accuracy, and visualization.
It also supports time-constrained simulation for aerospace manufacturing such as aerodynamics, and crash simulations.
Designers can assign point forces, distributed forces, thermal effects, and position constraints as per their preferences. The developer community appreciates the real life simulation and control of finite element analysis.
The segment is expected to grow at a strong 7% CAGR through 2029.
Computer fluid dynamics is the second largest segment with a market value share of more than 25%. The segment will grow at a robust 8% CAGR during the forecast period.
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Europe at Forefront of Global Market, South Asia & Oceania offer Lucrative Opportunities
Europe is the front runner in global sales with a majority share of over 35% of the total market value.
Presence of major automotive companies in countries such as Germany, Romania, and Russia will propel market growth in this region.
Automotive manufacturers are leading CAE adoption as the technology offers design and production benefits such as shorter prototyping cycles, reduced product defects, and improved customer experience.
South Asia & Oceania offer remunerative opportunities with a double digit growth rate of 10% CAGR.
Booming consumer electronics industry in this region impels the demand for computer aided engineering to design, prototype, and manufacture cost efficient products.
Innovative Business Models Win Sustainable Deals
Market players are innovating new business models by leveraging cloud computing, artificial intelligence, and machine learning. Prevailing pay-as-you-go pricing trends garner increased customer traction.
The flexibility of this pricing model acts as a growth factor for computer aided engineering services.
Competitive strategies include product innovation, performance enhancements, and global footprint expansion through strategic partnerships.
Automotive applications of computer aided engineering are a top priority for market players considering the global surge in automotive production and subsequent new product development initiatives.
Electric vehicle testing is one such area where computer aided engineering companies are finding multiplying applications of their products.
Major players in the computer aided engineering market include, but are not limited to
- ANSYS Inc.
- ESI Group
- Siemens AG
- Hexagon AB
- Exa Corporation
- Bentley Systems Inc.
- Dassault Systems
- Autodesk Inc.
- Altair Engineering
- 3D Systems Corp
- Aveva Group.
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Global Computer Aided Engineering Market: In-Depth Assessment on Key Segments
The global computer aided engineering market is segmented on the basis of application, services, end use and region.
This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared.
Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.
Country-specific assessment on demand for computer aided engineering has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous computer aided engineering manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries. The market has been forecasted based on constant currency rates.
The report provides detailed competitive and company profiles of key participants operating in the global computer aided engineering market.
Global Computer Aided Engineering Market – Scope Of The Report
The following report provides forecast and analysis of the global computer aided engineering market along with the historical data of 2014, estimated data 2019 and forecast data up to 2029 in terms of value (US$ Mn) and, according to a Fact.MR study.
The research propounds critical trends that are currently influencing growth within the global computer aided engineering market along with several macro-economic indicators.
This newly published and insightful report on computer aided engineering sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global computer aided engineering market.
The report also comprises the study of current issues with end users and opportunities for computer aided engineering. It also contains value chain analysis, including the key market participants.
To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews.
The dashboard included in the report provides a detailed comparison of computer aided engineering manufacturers on parameters such as total revenue, product offerings, and key strategies.
A list of key companies operating in the computer aided engineering market provided in the report adds to the credibility of this exhaustive research study.
Global Computer Aided Engineering Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications.
Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research.
The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the computer aided engineering market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the computer aided engineering market, which includes global GDP growth rate, various sectors growth rate such as automotive, defense & aerospace, electronics, medical devices and others.
This report serves as an authentic resource of intelligence on the computer aided engineering market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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