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USD 3.57 bn growth in Computer Aided Engineering (CAE) Market | Driven by Growth of Smartphone Industry | Technavio – PRNewswire

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Jan 10, 2022, 02:00 ET
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NEW YORK, Jan. 10, 2022 /PRNewswire/ — The global computer aided engineering (CAE) market will witness substantial growth in the coming years. The increasing use of CAE software in the R&D activities in the aerospace and defense industry is creating significant opportunities for market players. In addition, the growth of the global automotive industry and increasing investments in R&D for the development of new and efficient vehicles will create strong demand for CAE software during the forecast period.
Technavio estimates the global computer aided engineering (CAE) market size to increase by USD 3.57 billion from 2020 to 2025, progressing at a CAGR of over 9% during the forecast period.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Altair Engineering Inc., ANSYS Inc., Dassault Systemes SE, ESI Group, Hexagon AB, NUMECA International, PTC Therapeutics Inc., Siemens AG, Simerics Inc., and Symscape are some of the major market participants.
The growth of the smartphone industry and increasing requirements for large-scale project management will offer immense growth opportunities for market players. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Computer Aided Engineering (CAE) Market 2021-2025: Segmentation
By product, the market will witness maximum demand for FEA software. The demand for the software is mainly driven by stringent government regulations and increasing R&D activities among end-users. In addition, the emergence of cloud-based FEA solutions is contributing to the growth of the segment. The market growth in the segment will be significant during the forecast period.
Similarly, by end-user, the market is observing maximum demand for CAE software from the automotive industry. The growth of the segment can be attributed to the use of CAE software in the design and development of interior and exterior features of vehicles, such as enhanced night vision with pedestrian detection and automatic high beam control. Also, the increasing vehicle standards across countries is fueling the segment’s growth.
By geography, APAC is expected to offer maximum growth opportunities. The growth of the end-user industries such as automotive, electricals and electronics, and aerospace and defense is driving the growth of the CAE market in APAC. China and Japan are the key markets for computer aided engineering in APAC.
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Market trends such as reduction in product design time and cost are likely to emerge as one of the primary drivers of the market. However, factors such as lack of awareness among end-users about developments in CFD may threaten the growth of the market.
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Computer Aided Engineering (CAE) Market 2021-2025: Key Highlights
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Computer Aided Engineering (CAE) Market Scope
Report Coverage
Details
Page number
120
Base year
2020
Forecast period
2021-2025
Growth momentum & CAGR
Accelerate at a CAGR of 9%
Market growth 2021-2025
USD 3.57 billion
Market structure
Fragmented
YoY growth (%)
5.78
Regional analysis
Europe, North America, APAC, South America, and MEA
Performing market contribution
APAC at 39%
Key consumer countries
US, China, Germany, France, and Japan
Competitive landscape
Leading companies, competitive strategies, consumer engagement scope
Companies profiled
Altair Engineering Inc., ANSYS Inc., Dassault Systemes SE, ESI Group, Hexagon AB, NUMECA International, PTC Therapeutics Inc., Siemens AG, Simerics Inc., and Symscape
Market Dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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