June 20, 2019: The global computer aided engineering market size is anticipated to reach USD 12.78 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 9.8% during the forecast period. Rapid growth of wearable industry is likely to increase the use of CAE software in electronics industry. Major market players are in search of new revenue sources as the smartphone market is in the maturity stage. As a result, rising demand for wearable technology is anticipated to further fuel the growth.
Growing penetration of Internet of Things (IoT), tablets, and smartphones are expected to boost growth of the CAE market. Owing to the growth of IOT, wearable devices are increasingly being used in medicine, fitness, transportation, education, entertainment, and gaming; paving way for market growth. Miniaturization of electronic devices and sensors and persuasive connectivity with lowered costs have immensely contributed to the growth of wearable technology devices.
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Government regulations, mandating applications, such as collision avoidance, parking assistance systems, wireless communication technology, and interactive infotainment systems, in the upcoming car technologies to increase driver safety, are anticipated to propel demand for computer aided engineering software. Technological advancements in automotive sector, such as driverless cars and semi-autonomous cars, are further anticipated to boost the demand.
Emergence of innovative engineering modes such as 3D printing, building information modeling, and concurrent engineering is likely to influence the computer aided engineering market. 3D printing is a form of additive manufacturing that allows users to print any object as a 3-D image. The technology helps reduce production costs and develop new production methods. Ease of use and unlimited customization capabilities are the key factors driving the 3D printing market which is further expected to positively impact the CAE market.
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Prevailing open source software are anticipated to restrain the market growth over the projected period. They are available on the web for free. However, vendors do charge for support, customization, and maintenance services. Linux has been leading the open architecture software market. Open source software has been a boon for small software vendors, due to which, the large enterprises have been facing negative impacts. Prominent drivers for open source technology are the minor flaws and bugs that can be tested and fixed immediately.
Further key findings from the report suggest:
- Computational fluid dynamics segment is anticipated to witness high CAGR over the forecast period
- Testing and simulation are the important aspects of a design cycle that help end-users achieve profitability and faster time-to-market
- On-premise segment led the computer aided engineering market in terms of revenue in 2018 and is anticipated to remain dominant over the projected period
- Simulation software are used to analyze the effect of casing materials on IC performance, thermal management, and electrical signal performance
- Increasing adoption of lithium-ion batteries in consumer electronics application will also boost the demand over the projected period
- Asia Pacific and Latin America are poised to emerge as lucrative regional markets in the forthcoming years
- Key market players include Siemens AG (Germany), Exa Corporation (U.S.), MSC Software Corporation (U.S.), and ESI Group (France).
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According to a new study published by Polaris Market, the global Computer Aided Engineering Market is anticipated to reach USD 11.86 billion by 2026.
The increasing penetration of smartphones and tablets are the major factors driving the demand for CAE software.
Also, inadequate technical expertise and lack of skilled labor in several countries globally is restricting the growth of the computer aided engineering market.
Download sample Copy : https://www.polarismarketresearch.com/industry-analysis/computer-aided-engineering-market/request-for-sample On the other hand, cloud-based CAE tools helps the vendors to escalate market penetration in small as well as medium sectors by providing advantages such as reduced maintenance costs and operating costs as well as mobility of the companies.
During the past few years, a trend has been noticed in the CAE software marketplace.
CAE software offers broad application range as well as supports various tasks including, analysis, simulation, validation, and manufacturing of engineering products.
17 February 2020 - The global Computer Aided Engineering (CAE) Market size was valued at USD 5.23 billion in 2015 and is projected to reach USD 12.8 billion by 2025.
Global Computer Aided Engineering (CAE) market is expected to observe steady growth owing to increasing the need for collective product improvement.
Computer-aided engineering application has the provision to undertake various tasks which include analysis, validation, simulation, and manufacturing of engineering goods.
Application of integrated CAE tools results in a reduction in product analysis time and product life cycle time.
This helps in improving the overall efficiency.Request a Sample Copy of This Report @ https://www.millioninsights.com/industry-reports/computer-aided-engineering-cae-marketIncreasing usage of smartphones and tablets is expected to propel the market growth.
In order to achieve a competitive edge, market players are determined to make extensive investments in research and development.Cloud-based CAE solution provides great opportunities and is anticipated to boost the market growth over the forecast period.
Fact.MR has recently published a new research that provides detailed insights on the working dynamics of the global Computer Aided Engineering market.
The research report offers in-depth information about the key market segments, vendor landscape, geographical outlook, and the factors driving and inhibiting growth.According to the research report, the global market for Computer Aided Engineering is currently expanding a healthy CAGR over the course of the given period of forecast ranging from 2019 to 2029.
Consumer product manufacturers are investing in research and development for products with enhanced battery life and performance.
The companies included in the report areANSYS, Inc.ESI GroupSiemens AGHexagon ABExa CorporationThe Computer Aided Engineering market report offers assessment of prevailing opportunities in various regions and evaluates their shares of revenue by the end of different years of the assessment period.
Key regions covered comprise:North AmericaEuropeAsia PacificLatin AmericaMiddle East & AfricaThe research report provides in depth information about the current condition of the competitive landscape of the global Computer Aided Engineering market.
Moreover, it also provides information the different factors that has shaped the marketing strategies of the key players operating in the global market.
