Zion Research has published a new report titled “Computer Aided Engineering Market (Finite Element Analysis and Computational Fluid Dynamics) for Aerospace, Automobile, Electronic and Electricals Defense, Industrial Machineries and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2015-2021”. According to the report, global demand for computer aided engineering market was valued at around USD 3,062.37 billion 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.
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Growing trend of smartphones and tablets are expected to boost the growth of this market. Rising use of new engineering models such as building information modeling, 3D printing, 3D modeling, and concurrent engineering are major drivers for the computer aided engineering software market. However, increasing the threat of open-source and piracy of CAE software could negatively impact the computer-aided engineering market growth. Lack of technical expertise and skilled labor is expected to hamper market growth over the forecast period.
Nonetheless, Cloud-based computer aided engineering tools may help market vendors to increase market penetration in small and medium sectors by offering benefits such as low operating and maintenance costs and mobility for the companies. Computer aided engineering is the vital part of many global industries for economic growth including automotive, oil, aerospace, defense, finance and healthcare etc.
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North America accounted for the largest share in terms of revenue in the Global CAE market in 2015 and followed by the Asia Pacific region. The Asia Pacific is one of the fastest growing regions in the global market due to the emergence of several manufacturing industries in this region. In the Middle East and Africa, the wide adoption of product lifecycle management strategy by enterprises has fuelled the demand for computer-aided engineering software. Major players in the CAE market include S.A., and Synopsys, Inc., ,Bentley Systems,PLM Software, Inc., Mentor Graphics Corporation, Exa Corporation, MSC Software Corporation, Inc., NEi Software, Dassault Systemes, ANSYS Inc., and AspenTech, ESI Group, and Numeca International, among others.
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