Computer Aided Engineering Market
Computer Aided Engineering Market By Type (Finite Element Analysis (FEA), Computational Fluid Dynamics (CFD), Multibody Dynamics), By Deployment (On-premise, Cloud-based), By End Use (Retail Automotive, Electronics, Industrial Equipment) & Region - Forecast to 2019 to 2029
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.
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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.
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.
An Adaptive Approach to Modern-day Research Needs
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.
By Type :
- Finite Element Analysis (FEA)
- Computational Fluid Dynamics (CFD)
- Multibody Dynamics
- Optimization & Simulation
By Deployment :
By End Use :
- Defense & Aerospace
- Medical Devices
- Industrial Equipment
By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
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.
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