The global computer aided engineering market size is
anticipated to reach USD 14.9 billion by 2027, according to a new report by
Grand View Research, Inc., registering a 9.3% CAGR over the forecast period.
Rapid growth of the wearable industry is likely to increase the use of computer
aided engineering (CAE) software in the electronics industry. With the
smartphone market in its maturity stage, major players are in search of new
sources of revenue. As a result, wearable technology is likely to witness a
surge in demand over the forecast period.
Growing penetration of IoT, tablets, and
smartphones is expected to boost the CAE market. Increasing usage of wearable
devices in a host of industries, such as medicine, fitness, transportation,
education, entertainment, and gaming, is also paving the way for market growth.
Miniaturization of electronic devices and sensors, persuasive connectivity, and
lowered costs have significantly contributed to the growth of wearable devices,
thereby impacting the growth of computer aided engineering.
Looking to increase driver and passenger
safety in vehicles, government regulations have mandated the application of
technologies such as collision avoidance systems, parking assistance systems,
wireless communication technology, and interactive infotainment systems in
upcoming car technologies. This is anticipated to spur the demand for computer
aided engineering software. Additionally, technological advancements in the
automotive sector, including driverless cars and semi-autonomous cars, are
likely to boost demand for computer aided engineering software.
Prevailing open source software are
anticipated to restrain the adoption of computer aided engineering software and
solutions over the projected period. These software are available for free on
the web; however, vendors charge for support, customization, and maintenance
services. Another major advantage of open source technology is that minor flaws
and bugs can be tested and fixed immediately. Linux has been leading the open
architecture software market. Open source software has been a boon for small
software vendors. However, it has proven to be a restraint for large
enterprises.
Browse request sample of this report by
Grand View Research: https://www.grandviewresearch.com/industry-analysis/computer-aided-engineering-cae-market/request/rs1
Further key
findings from the report suggest:
- The Finite Element Analysis (FEA) segment
dominated the market for CAE solutions in 2019. FEA simulates real
components to analyze problems pertaining to heat transfer, structural
analysis, electromagnetic potential, and mass transport
- The cloud-based deployment model is expected
to register the fastest growth over the projected period, on the basis of
deployment model. Cloud-based deployment enables faster distribution,
minimal maintenance, reduction in cost, and increase in scalability
- The automotive segment held the dominant share
in 2019, by way of end use. In this sector, CAE software is used to
analyze the feasibility of heat dissipation techniques such as cooling,
ventilation, and aerodynamics. The aerospace sector is expected to witness
a high growth rate over the forecast period
- Asia Pacific and South America are poised to
emerge as lucrative regional markets for CAE software over the forecast
period. Rising government investments in the manufacturing sector and
growing automation of industrial equipment are major factors driving these
markets
- Key players in the market include Siemens AG
(Germany), Exa Corporation (U.S.), MSC Software Corporation (U.S.), and
ESI Group (France). Industry players are constantly investing in R&D
to develop differentiated products and stay ahead of the competition.
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Query? Ask Our Experts: https://www.grandviewresearch.com/inquiry/2242/ibb
Grand
View Research has segmented the global computer aided engineering market based
on type, deployment model, end use, and region:
Computer
Aided Engineering (CAE) Type Outlook (Revenue, USD Million, 2016 - 2027)
- Finite Element
Analysis (FEA)
- Computational Fluid
Dynamics (CFD)
- Multibody Dynamics
- Optimization &
Simulation
Computer
Aided Engineering (CAE) Deployment Model Outlook (Revenue, USD Million,
2016 - 2027)
- On-premise
- Cloud-based
Computer
Aided Engineering (CAE) End-use Outlook (Revenue, USD Million, 2016 -
2027)
- Automotive
- Defense &
Aerospace
- Electronics
- Medical Devices
- Industrial Equipment
- Others
Computer
Aided Engineering (CAE) Regional Outlook (Revenue, USD Million, 2016 -
2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- Singapore
- South Korea
- South America
- Brazil
- Middle East and
Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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