Pune, India, July 03, 2023 (GLOBE NEWSWIRE) — According to Fortune Business Insights, global computer-aided engineering market size was valued at USD 7.23 billion in 2022 and is projected to grow from USD 8.01 billion in 2023 to USD 17.68 billion by 2030, exhibiting a CAGR of 12.0% during the forecast period. Increase in Implementation of IoT and 3D Printing to Foster Growth. The growing adoption of computer-aided engineering, which helps in minimizing the charge of electric vehicles, is expected to drive market growth. This information is presented by Fortune Business Insights, in its report titled, Computer-aided Engineering Market Forecast, 2023-2030.
Key Industry Development:
June 2022: A collaboration between Ansys and SoftInWay, a provider of analysis and design software for 1D-2D designs, has made it easier to build multi-stage, single-stage, and multi-module turbomachinery.
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Key Takeaways
- Declined Demand for CAE Software from Several Industries Hindered Market Growth
- Rising Adoption in Aircraft Designing to Boost Demand for CAE
- It covers the simulation, validation, and improvement of manufacturing tools, products, and processes.
- By Type Analysis: Finite Element Analysis Segment to Produce Largest Share in Order to Prevent Failures
- Computer-aided Engineering Market Size in Europe was USD 2.54 Billion in 2022
Discover the Leading Players Featured in the Report:
“Companies leading the Computer-aided Engineering Market Are ESI Group (France), Siemens AG (Germany), Hexagon AB (Sweden), Aveva Group (U.K.), SimScale (Germany), ANSYS, Inc. (U.S.), Altair Engineering Inc. (U.S.), Autodesk, Inc. (Germany), Bentley Systems, Inc. (U.S.), Dassault Systemes (U.S.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 12.0% |
| 2030 Value Projection | USD 17.68 Billion |
| Base Year | 2022 |
| Computer-aided Engineering Market Size in 2022 | USD 7.23 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 150 |
| Segments covered | Deployment, Type, End-use and Geography |
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Drivers and Restraints:
Surge in Implementation of IoT and 3D Printing to Boost Market Development
The increased use of digital technologies in product design, including the Internet of Things (IoT), Artificial Intelligence (AI), Machine Learning (ML), automation, cloud, and others, contributes to improving the quality and longevity of the final product. Additionally, customers are implementing computer-aided engineering solutions, which are anticipated to fuel market expansion, in order to reduce the time and cost associated with product creation. This is expected to boost the computer-aided engineering market growth during the upcoming period.
However, the high costs of installations and lack of technical expertise hamper the market growth.
Segmentation:
By Deployment
By Type
- Finite Element Analysis (FEA)
- Computational Fluid Dynamics (CFD),
- Thermal Analysis
- Multibody Dynamics
- Others
By End-user
- Automotive
- Medical Devices
- Industrial Equipment
- Defense & Aerospace
- Electronics
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
Regional Insights:
Europe to Dominate Backed by Presence of Several Big Market Players
The presence of key market players across European countries is predicted to drive the growth of the regional market, Europe held the largest computer-aided engineering market share in 2021. Asia Pacific is anticipated to have significant growth throughout the forecast period as a result of rising government investments in the growth of the manufacturing sector and increasing the capacity for the production of renewable energy.
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Competitive Landscape:
Partnerships among Companies to Secure Their Brand Values in Global Market
Market leaders regularly choose efficient tactics to advertise their goods and fortify their positions in the industry. One such tactic is to collaborate with other businesses to launch new products in order to reach more end users.
FAQ’s
How big is the computer-aided engineering market?
Computer-aided Engineering Market size was USD 7.23 billion in 2022.
How fast is the computer-aided engineering market growing?
The Computer-aided Engineering Market will exhibit a CAGR of 12.0% during the forecast period, 2023-2030
Related Reports:
Electronic Design Automation Software Market Size, Industry Share 2030
Computer-Aided Manufacturing (CAM) Market Size, Industry Share 2030
Computer-aided Facility Management (CAFM) Market Size, Industry Share
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