Computer-Aided Engineering (CAE) Software Market Worth to Outgrow by USD 14.87 BN By 2027
Posted On April 01, 2021
According to the research report by Value Market Research, the Global Computer-Aided Engineering (CAE) Software Market is likely to grow to USD 14.87 BN by 2027 with a CAGR of 9.3% during the year 2020-2027. The growing use of computers and information technology in the analysis and synthesis of various products across industries is the main driver for the CAE software market’s growth. The extensive use of CAE software in the automotive industry to reduce product development cost and time with improved safety, comfort, and durability will lead to steady growth in the market. Software companies constantly looking to develop more robust software, use computer resources efficiently, and include engineering knowledge in pre-and post-processing will favor market growth. Availability of advanced software for use in industries like aerospace, electronics, oil and gas, HVAC, and plant engineering will be a market booster. Lack of expertise and security issues are the major restraining factors affecting market development.
Computer-aided engineering software covers a broad spectrum of software tools used to analyze engineering tasks and validate product design across a wide range of industries. It is used to analyze the robustness and performance of components and manufacturing assemblies. It encompasses the significant steps in production like simulation, validation, and optimization. It also helps the product design teams in decision-making. It is used in the automotive, aviation, space, and shipbuilding industries. CAE can help provide performance insights in an earlier stage of the development process when design changes are less expensive to make.
"Global Computer-Aided Engineering (CAE) Software Market Report By Type (Finite Element Analysis (FEA), Computational Fluid Dynamics (CFD), Multibody Dynamics, Optimization & Simulation), By Deployment Model (On-Premise, Cloud-Based), By End-User (Automotive, Defense & Aerospace, Electronics, Medical Devices, Industrial Equipment, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" is an elaborate report providing market data on the basis of segments and geography.
On the basis of Type the market is segmented into Finite Element Analysis (FEA), Computational Fluid Dynamics (CFD), Multibody Dynamics, Optimization & Simulation. By Deployment Model the computer-aided engineering (CAE) software market is categorised as On-premise, Cloud-based. By End-User the computer-aided engineering (CAE) software market is categorised as Automotive, Defense & Aerospace, Electronics, Medical Devices, Industrial Equipment, Others. By geography the report is bifurcated into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. computer-aided engineering (CAE) software is the dominating region. The data tables in this section depict the market estimate by market segment.
The Report Segments Global Computer-Aided Engineering (CAE) Software Market -
- Finite Element Analysis (FEA)
- Computational Fluid Dynamics (CFD)
- Multibody Dynamics
- Optimization & Simulation
By Deployment Model
- Defense & Aerospace
- Medical Devices
- Industrial Equipment
- North America
- the Asia Pacific
- Latin America
- The Middle East and Africa
Players Profiled In the Report:
Siemens Product Lifecycle Management Software Inc., Dassault Systemes, Altair Engineering, Inc., CD-adapco, Mentor Graphics, Inc., AspenTechnology, Inc., MSC Software Corporation, ESI Group, Computational Engineering International Inc., Exa Corporation, and Bentley Systems Incorporated.
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