According to a recent report by Future Market Insights, the global computer aided engineering market is expected to register a CAGR of 8.3% by garnering a market value of US$ 20.19 Billion in 2032 from US$ 9.1 Billion in 2022. An absolute dollar growth worth US$ 11.09 Billion is expected for the computer aided engineering market throughout the forecast period ranging from 2022-2032.
The software industry is a fast-paced industry and timely development and introduction of products to the market are vital to a firm’s success. Companies are obtaining new software technologies through mergers & acquisitions.
Furthermore, Cloud computing offers easy access to data, vast space for data storage, and security. Cloud-based CAE, offered as a Software-as-a-Service (SaaS), renders application-specific solutions to the CAE users. Hence, the cloud-based deployment model is expected to portray a high growth rate during the projected period.
The defense and aerospace end-use is expected to witness the highest growth rate over the forecast period, owing to the increasing use of CAE software. The growing government spending in the defense & aerospace segment, for modernizing anti-terror equipment and mitigating security lapses, is anticipated to increase the growth of the segment.
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Key Takeaways from the Market Study
- Global computer aided engineering market to surge over 2x until 2032
- Europe to dominate the CAE market with a market share of 30%, and a CAGR of 8.1%
- Asia Pacific to emerge as an opportunistic market, documenting an 8.5% CAGR
- North America to be the fastest growing market, reflecting a growth rate of 8.7%
- Finite Element Analysis (FEA) is projected to account for a market share of more than 50%.
- Automotive end-use industry holds the largest market share of 29%.
- The defense and aerospace industry is expected to witness the highest growth rate of 10.4% over the forecast period.
“The computer aided engineering (CAE) market is poised for unprecedented growth during the forecast period, as integrated software solutions eliminate the need for multiple prototypes and product recall concerns. As a result, the cost associated with prototyping and product recall strategy is highly reduced. ,” says an analyst at Future Market Insights
The computer aided engineering market is expanding rapidly at the back of innovation being undertaken by the key players in the market. Market growth is also credited to the heightened product innovation and product launches around the world. The increasing product launches with the added functionality and improved characteristics are likely to attract more consumers and further boost the market growth.
Key players in the global computer aided engineering market include ANSYS, Inc.; Altair Engineering; Autodesk, Inc.; Bentley Systems, Inc.; Dassault Systemes; ESI Group; Exa Corporation; Mentor Graphics Corporation (A subsidiary of Siemens AG); MSC Software Corporation (A subsidiary of Hexagon AB); and Siemens AG. Some recent developments in computer aided engineering market are as follows:
- In early 2022, Intel announced the addition of some enhanced features to its earlier launched Intel® VTune™ Profiler. The new features increase application performance, system performance, and system configuration for HPC, cloud, IoT, media, storage, and more. It helps you tune the performance of the entire application, not just the accelerated piece, using the CPU, GPU, and FPGA. SYCL*, C, C++, C#, Fortran, OpenCLTM code, Python*, Google Go* programming language, Java*, NET, Assembly, or any mix of languages can be profiled.
- In May 2022, Siemens hosted a premiere where the company unveiled Simcenter Femap 2022 – the latest release of Siemens’ market-leading CAE simulation solution for finite element analysis. Simcenter Femap is an advanced simulation application for creating, editing, and inspecting finite element models of complex products or systems.
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More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the computer aided engineering market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by type (finite element analysis (FEA), computational fluid dynamics (CFD), multibody dynamics, optimization & simulation), deployment (on-premise and cloud-based), end-use (Automotive, defense & aerospace, electronics, medical devices, Industrial equipment, others) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Key Segments Covered In The Computer Aided Engineering Market Study
Computer Aided Engineering Market by Type:
- Finite Element Analysis (FEA) Computer Aided Engineering
- Computational Fluid Dynamics (CFD) Computer Aided Engineering
- Multibody Dynamics Computer Aided Engineering
- Optimization & Simulation Computer Aided Engineering
Computer Aided Engineering Market by Deployment Model:
- On-premise Computer Aided Engineering
- Cloud-based Computer Aided Engineering
Computer Aided Engineering Market by End Use:
- Computer Aided Engineering for Automotive Industry
- Computer Aided Engineering Defense & aerospace Industry
- Computer Aided Engineering Electronics Industry
- Computer Aided Engineering for Medical devices
- Computer Aided Engineering for Industrial equipment
- Computer Aided Engineering for Other End Uses
Computer Aided Engineering Market by Region:
- North America Computer Aided Engineering Market
- Europe Computer Aided Engineering Market
- Asia Pacific Computer Aided Engineering Market
- Latin America Computer Aided Engineering Market
- Middle East & Africa Computer Aided Engineering Market