Zion Market Research has published a new report on the CAE (computer-aided engineering) software market pegging steady 11% plus compound annual growth rate (CAGR) for this segment of the software industry.
According to the report, global demand for computer aided engineering market was valued at around USD 3,062.37 million in 2015 and is expected to reach approximately USD 5,863.36 million in 2021, growing at a CAGR of slightly above 11.10% between 2016 and 2021.
Computer aided engineering (CAE) aids in solving engineering problems through the use of sophisticated and interactive graphical software. CAE is software used to design, analyze, and manufacture products and processes.
The CAE market includes Finite Element Analysis (FEA) and Computational Fluid Dynamics (CFD) software systems. Architosh covers these topics intermittedly through limited range companies serving engineering software systems for the macOS platform, like Altair Corporation’s HyperWorks and Siemens’ NX (unigraphics) software products.
According to the report, the major players include S.A, Synopsys, Inc., Bentley Systems, Siemens PLM Software, Inc., Mentor Graphics Corporation, Exa Corporation, MSC Software Corporation, Inc., NEi Sosftware, Dassault Systems, ANSYS Inc., AspenTech, ESI Group, and Numeca International, among others.
Key Take Aways
- The growing trend of smartphones and tablets will boost growth of this market.
- New engineering “modes” will boost this market — including BIM, 3D printing, 3D modeling and concurrent engineering.
- Lack of technical expertise and skilled labor is expected to hamper market growth potential over the forecast period.
- Cloud-based CAE tools may help vendors increase market penetration (into small and medium sectors).
- CAE tools are vital to highly competitive global industries like: aerospace, defense, automotive as well as oil and gas, healthcare and industrial machinery.
- North America will dominate the market for computer-aided detection systems.
- Europe followed North America in terms of revenue in the CAE market.
- Asia-Pacific is expected to be the fastest growing segment of the CAE market over the forecast period, driven by medical tourism and government initiatives.
A free sample copy of this report is available at Zion Market Research here.