The global Computer-Aided Engineering market was valued at over US$8,632million in 2021 and is estimated to grow at a compound annual growth rate (CAGR) of 7.6% between 2022 and 2029. The growth can be attributed to the rising demand for integrated software solutions, eliminating the need to create multiple prototypes and reducing product recalls among various industry verticals.
Computer-Aided Engineering (CAE) is a process of developing and simulating the product performance or resolving engineering problems for various industries using software tools and virtual platforms.
AgileIntel’s global Computer-Aided Engineering market study is a 157 pages report containing in-depth analysis on historical and forecasted spending patterns in the sector. The study offers granular value data from a global, regional, type, application, and end-user perspective.
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The base year is 2021 for the study with historical data between 2018 and 2021. The data forecast has been provided for the years between 2022 and 2029.
Insights on Type:
The computer-Aided Engineering (CAE) market has been segmented into Finite Element Analysis (FEA), Computational Fluid Dynamics (CFD) and Multibody Dynamics, Optimization & Simulation, depending on the type.
FAE is a computational analysis tool that helps analyze the stress and dynamics of components and assemblies under real-world conditions. The FEA segment dominated the CAE market with a global revenue share of around 55% in 2021. It is expected to continue its dominance during the forecast period due to its large-scale implementation in manufacturing industries such as the automotive sector.
Furthermore, the Computational Fluid Dynamics (CFD) is expected to drive the market growth during the forecast period due to its widespread application in aerospace engineering, Heating, Air conditioning, and Ventilation (HVAC) engineering, electronics manufacturing, turbo machinery, etc. CFD uses mathematical modeling and software tools to qualitatively predict the fluid flow.
Insights on Deployment:
The CAE software can be deployed on-premise or on the cloud. The on-premise segment held the largest share of the CAE market, accounting for around 66% of the global revenue in 2021. Several businesses consider the software deployment at the client’s site more convenient and safe. It provides users complete control of the data, hardware and software platforms, upgrades, and system changes, thereby driving the segment growth during the forecast period.
However, on-premise systems require huge capital expenditure and maintenance costs to ensure functionality. The could-based deployment is expected to grow considerably during the forecast period as it provides enterprises real-time access to systems and data, vast storage space, and confidentiality. Additionally, cloud computing services offer businesses Infrastructure-as-a-Service (IaaS) and Software-as-a-Service (SaaS) platforms that render application-specific solutions to CAE users.
Impact of COVID-19
The COVID-19 pandemic has negatively affected the global CAE market. The primary reason for the hindered growth in the short term is the decreased demand for CAE software from automotive and industrial equipment end-use verticals. As the factories and manufacturing plants have halted operations during the pandemic, the vendors witnessed a steep decline in new orders and CAE software purchases.
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However, as the people are settling in remote work culture, the designing, modelling, and other related operations in the market are resuming. To assist the transition to remote working, numerous software vendors are offering discounts, trial extensions, temporary free access, and licensing changes to support the migration from office to home.
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The global Computer-Aided Engineering (CAE) Software Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the Computer-Aided Engineering (CAE) Software include 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..
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Computer-Aided Engineering (CAE) Software Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/computer-aided-engineering-cae-software-market/download-sampleMarket SegmentationThe broad Computer-Aided Engineering (CAE) Software has been sub-grouped into the Deployment Model, Type, End-User and Region.
The report studies these subsets with respect to the geographical segmentation.
The strategists can gain a detailed insight and devise appropriate strategies to target specific market.
