The Computer Aided Engineering Market is predicted to rise to USD 16,190 million by 2028, witnessing 9.1% CAGR during 2021-2028

Introduction of the Computer Aided Engineering Market Report

Computer-aided engineering (CAE) refers to the use of sophisticated and interactive graphical software for improving product design and resolving engineering problems for a wide range of industries including automotive, electronics, and medical among others. The computer-aided engineering process includes simulation, optimization, virtual testing, validation, and the planning of manufacturing of products and processes.

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Market Dynamic

Key Drivers and Emerging Trends

The growing use of digital technologies in designing products, and the increasing demand for CAE software for reduced product development cost and time, with improved product quality and durability are expected to drive the growth of the computer-aided engineering market size over the forecast period. Additionally, CAE offers benefits that include evaluation of designs using computer simulations, provides performance insights earlier in the development process, helps engineering teams to manage risk, and understand the performance implications of designs, this is expected to augment the demand for computer aided engineering. Moreover, rising manufacturing industries including aerospace, automotive, industrial engineering, industrial equipment, and others are further expected to offer growth opportunities to the market.

Restraint in the Computer Aided Engineering Market

However, a lack of technical expertise regarding the implementation and application of computer-aided engineering software is expected to restraint the growth of the market. In addition, low awareness about developments in CFD among end-users may hamper the market growth.

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Type – Segment Analysis

Based on the type, finite element analysis (FEA) is expected to account for a large share in the computer-aided engineering market owing to its advantages including easier modeling of complex geometrical and irregular shapes, high degree of accuracy, highly useful for certain time-dependent simulations, and easy spotting of vulnerability in design with the detailed visualizations. Moreover, FEM is used for various applications that include stress analysis, slope stability analysis, analysis of dams and tunnels, thermo-viscoelastic analysis of reactor components, metallurgical process simulation, response analysis, and aerodynamics.

Deployment – Segment Analysis

Based on the deployment, the on-premise deployment is expected to hold a prominent share in the market. This can be attributed to its benefit including reliability and data security owing to the complete ownership and no third-party involvement.

End-Use Industry – Segment Analysis

Based on the end-use industry, automotive is expected to grow at a substantial CAGR over the forecast period primarily due to the increasing investments in R&D for the development of new and efficient vehicles, the increase in electric vehicle design and simulation, and the development of autonomous vehicle sensors and battery simulation. Moreover, according to IEA, about 3 million new electric cars were registered in 2020 globally.

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Regional – Segment Analysis:

North America is expected to account for a high market share over the forecast period. This can be attributed to growing industries including healthcare, aerospace, nuclear plants, and defense, and the high demand for digital simulation for industrial engineering. Additionally, the presence of some of the leading companies including ANSYS, Inc., Altair Engineering, Inc., Autodesk, Inc., Bentley Systems, Inc. is further escalating the market growth.

Top Market Players

Several leading Computer Aided Engineering companies operating in the market, include, ANSYS, Inc., Altair Engineering, Inc., Autodesk, Inc., Bentley Systems, Inc., Dassault Systemes, ESI Group, Hexagon AB, Siemens AG, 3D Systems, Inc., and Wipro Limited among others.

Key Developments:

• In 2019, Wipro Limited, one of the leading information technology, and business process services companies announced to acquire International TechneGroup Incorporated (ITI), a digital engineering and manufacturing solutions company offering Computer-Aided Design (CAD) software services.

Segments covered in the Report:

The global Computer-Aided Engineering market has been segmented on the basis of type, deployment, end-use industry, and key regions. Based on type, the market is segmented into finite element analysis (FEA), computational fluid dynamics (CFD), multibody dynamics, and optimization & simulation. Based on the deployment, the market is segmented into on-premise and cloud-based. Based on the end-use industry, the market is segmented into automotive, defence & aerospace, electronics, medical devices, industrial equipment, and others.

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Key questions answered in this research report:

• • At what pace is global Computer Aided Engineering market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Computer Aided Engineering Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Computer Aided Engineering Market?
  • Which type generated maximum revenues in 2020 and identify the most promising type during the forecast period?
  • What are the various end-use industries of global Computer Aided Engineering Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Computer Aided Engineering Market by Type

• • Finite Element Analysis (FEA)
  • Computational Fluid Dynamics (CFD)
  • Multibody Dynamics
  • Optimization & Simulation

Global Computer Aided Engineering Market by Deployment

• • On-Premise
  • Cloud-Based

Global Computer Aided Engineering Market by End-Use Industry

• • Automotive
  • Defense & Aerospace
  • Electronics
  • Medical Devices
  • Industrial Equipment
  • Others

Global Computer Aided Engineering Market by Region

• • North America Computer Aided Engineering Market (Option 1: As a part of the free 25% customization)
    • By Type
    • By Deployment
    • By End-Use Industry
    • US Market All-Up
    • Canada Market All-Up
  • Europe Computer Aided Engineering Market (Option 2: As a part of the free 25% customization)
    • By Type
    • By Deployment
    • By End-Use Industry
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Computer Aided Engineering Market (Option 3: As a part of the free 25% customization)
    • By Type
    • By Deployment
    • By End-Use Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Computer Aided Engineering Market (Option 4: As a part of the free 25% customization)
    • By Type
    • By Deployment
    • By End-Use Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Computer Aided Engineering Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • ANSYS, Inc.
  • Altair Engineering, Inc.
  • Autodesk, Inc.
  • Bentley Systems, Inc.
  • Dassault Systemes
  • ESI Group
  • Hexagon AB
  • Siemens AG
  • 3D Systems, Inc.
  • Wipro Limited