The global Computer Aided Engineering market size is expected to be worth around US$ 14.11 billion by 2028, according to a new report by Vision Research Reports.
The global Computer Aided Engineering market size was valued at US$ 7.5 billion in 2020 and is anticipated to grow at a CAGR of 9.5% during forecast period 2021 to 2028.
Growth Factors
The rapid growth of the wearable industry is likely to increase the use of computer-aided engineering (CAE) software in the electronics industry. With the smartphone market in its maturity stage, major players are in search of new sources of revenue. As a result, wearable technology is likely to witness a surge in demand over the forecast period.
The growing penetration of IoT, tablets, and smartphones is expected to boost the CAE market. Increasing usage of wearable devices in a host of industries, such as medicine, fitness, transportation, education, entertainment, and gaming, is also paving the way for market growth. Miniaturization of electronic devices and sensors, persuasive connectivity, and lowered costs have significantly contributed to the growth of wearable devices, thereby impacting the growth of computer-aided engineering.
Looking to increase driver and passenger safety in vehicles, government regulations have mandated the application of technologies such as collision avoidance systems, parking assistance systems, wireless communication technology, and interactive infotainment systems in upcoming car technologies. This is anticipated to spur the demand for computer-aided engineering software. Additionally, technological advancements in the automotive sector, including driverless cars and semi-autonomous cars, are likely to boost demand for computer aided engineering software.
Report Highlights
Based on type, the CAE market is segmented into Finite Element Analysis (FEA), Computational Fluid Dynamics (CFD), multibody dynamics, and optimization and simulation. The FEA segment dominated the market for computer-aided engineering in terms of revenue in 2019. FEA is a computational analysis methodology that helps in determining the strength of a product with respect to the loading. FEA simulates real components to analyze problems pertaining to heat transfer, structural analysis, electromagnetic potential, and mass transport.
Computational fluid dynamics involves the qualitative prediction of fluid flow using mathematical modeling and software tools. CFD is used in analyzing turbulence, flow, and pressure distribution of gasses and liquids and their interaction with different structures. Industry players are aiming at developing application-specific software for customized process functions. Multibody dynamic analysis is of two types: inverse dynamics and forward dynamics. Forward dynamics analysis is the movement of individual components by the application of external forces. Inverse dynamics involves the analysis of forces to move the system in a specific way.
Based on end-use, the computer-aided engineering market is segmented into defense and aerospace, automotive, electronics, medical devices, industrial equipment, and others. The automotive end-use segment dominated the market in terms of revenue in 2019. In the automotive sector, CAE software is used to analyze the feasibility of heat dissipation techniques such as cooling, ventilation, and aerodynamics.
The aerospace sector is expected to witness strong growth over the forecast period. Rising government spending in the defense and aerospace sector in order to modernize anti-terror equipment and mitigate security lapses is anticipated to increase the adoption of CAE software in the segment. Furthermore, growing concerns about security and surveillance in public places are likely to influence demand for computer-aided engineering software and solutions.
The software industry is immensely fast-paced, 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 and acquisitions. Based on the deployment model, the market for CAE solutions is segmented into on-premise and cloud-based. Cloud computing offers easy access to data, vast space for data storage, and high security.
Even though the on-premise deployment of CAE software increases software deployment cost as well as up-gradation costs, the segment held the largest revenue share in the CAE market in 2019. This dominance can be attributed to its early adoption. Additionally, deployment of software at the client’s site is considered to be a more convenient option by several companies where data confidentiality issues take priority. The on-premise segment is expected to retain its hold over the global market throughout the forecast period.
Europe dominated the global market for computer-aided engineering software in terms of revenue in 2019 and is expected to retain its lead throughout the forecast period. Developed economies in the region are expected to witness significant growth owing to the presence of bio-diverse cultures and increasing automation in the manufacturing sector. Rising concerns regarding greenhouse gas emissions and evolving battery technologies are anticipated to spur the European market for CAE software solutions. Rapid penetration of IoT in numerous industries and increasing spending on the defense sector are also influencing the regional market.
Key Players
BenQ Corporation (Taiwan); Casio Computer Co., Ltd. (Japan); Dell Technologies, Inc. (U.S.); NEC Display Solutions, Ltd. (Japan); and Seiko Epson Corp. (Japan).
Market Segmentation
Type Outlook
Finite Element Analysis (FEA)
Computational Fluid Dynamics (CFD)
Multibody Dynamics
Optimization & Simulation
Deployment Model Outlook
On-premise
Cloud-based
End-use Outlook
Automotive
Defense & Aerospace
Electronics
Medical Devices
Industrial Equipment
Others
Regional Outlook
North America
The U.S.
Canada
Mexico
Europe
Germany
The U.K.
France
Italy
Spain
Russia
Asia Pacific
China
India
Japan
Singapore
South Korea
South America
Brazil
Middle East and Africa (MEA)
The Computer Aided Engineering market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Computer Aided Engineering market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Computer Aided Engineering market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Computer Aided Engineering market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Computer Aided Engineering market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Computer Aided Engineering capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Computer Aided Engineering by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Computer Aided Engineering market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Computer Aided Engineering market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Computer Aided Engineering market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Computer Aided Engineering industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Computer Aided Engineering market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Computer Aided Engineering market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Computer Aided Engineering market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Computer Aided Engineering market. These factors have benefited the growth of the global market for Computer Aided Engineering. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Computer Aided Engineering. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Computer Aided Engineering are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers