According to the latest IMARC Group report, the The global computer aided engineering market has shown strong growth during the period 2015-2020. Looking ahead, IMARC Group expects the market to grow at a CAGR of 10% during 2021-2026.
Computer Aided Engineering (CAE) involves the use of sophisticated and interactive computer software to facilitate technical analysis tasks. It is widely used to simulate performance using virtual tools for the purpose of improving product design and solving engineering problems. It is also used to assess the performance and robustness of assemblies and components by mimicking the physical properties of the product and performing thermal / finite element analyzes and optimizations. Since this process eliminates the need to build physical prototypes in its early stages of development, it offers faster processing and helps many end users achieve their goals faster than expected. Therefore, CAE finds many applications in many verticals, such as energy, aerospace, automotive, electronics and healthcare.
Note: We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of related industries. These observations will be incorporated into the report.
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Global Computer Aided Engineering Market Trends:
The market is primarily driven by the growing adoption of cloud computing instead of on-premise computing solutions across various industries. Using cloud computing eliminates hardware acquisition and software licensing, installation and support, thereby minimizing overall costs. This has significantly increased the deployment of CAE software in various organizations. There has also been an increase in the integration of computer aided drawing (CAD) with CAE to help calculate the distribution of stresses and strains in a product without influencing the modeling process. The market is further driven by the increasing penetration of smart and wearable devices across the world, supported by the miniaturization of sensors and electronic devices and their reduced selling prices. Apart from this, the governments of many countries have demanded the installation of several advanced technologies, including parking assistance systems, collision avoidance systems and wireless communication technologies, in the latest models of various automobiles. This, along with the launch of driverless and semi-autonomous cars, should facilitate adoption of CAE’s services. Other factors contributing to the growth of the market include the emergence of 3D printing and the increase in mergers and acquisitions (M&A) by original CAE vendors and resellers as a key strategy to expand their presence in the market.
- Based on Type, the market has been divided into Finite Element Analysis (FEA), Computational Fluid Dynamics (CFD), Multibody Dynamics, Optimization, and Simulation.
- Based on the type of deployment, the market has been divided into on-premises and cloud.
- On the basis of end-use industry, the market has been categorized into automotive, defense and aerospace, electronics, medical devices, industrial equipment, and others.
- Geographically, the market has been separated into North America (United States and Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Russia and others), Asia-Pacific (China, Japan, India , Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
The competitive landscape of the industry was also examined, with some of the major players being Altair Engineering Inc., Ansys Inc., Aspen Technology Inc., Autodesk Inc., BenQ Asia Pacific Corp., Bentley Systems Inc., Casio Computer Co. Ltd., Dassault Systèmes, ESI Group, Exa Corporation, Mentor Graphics Corporation, MSC Software Corporation, NUMECA International, Seiko Epson Corporation, Siemens Digital Industries Software, etc.
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