The latest report by IMARC Group, titled “Computer-Aided Engineering Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028″ offers a comprehensive analysis of the industry, which comprises insights on the computer-aided engineering market trends. The market size reached US$ 9.3 Billion in 2022. IMARC Group expects the market to reach US$ 16.6 Billion by 2028, exhibiting a growth rate (CAGR) of 10.4% from 2023–2028.
Computer-aided engineering (CAE) involves the application of advanced computer software and simulation techniques to analyze, design, and optimize various engineering processes and systems. It plays a pivotal role in enhancing product development, reducing time-to-market, and improving overall product quality. It also encompasses a wide array of engineering domains, including structural analysis, fluid dynamics, thermal analysis, electromagnetics, and more. Moreover, CAE serves as a digital laboratory, enabling engineers and businesses to make data-driven decisions, enhance innovation, and stay competitive in the ever-evolving landscape of engineering and manufacturing.
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Computer-Aided Engineering Market Trends and Drivers:
The market is driven by the increasing complexity of engineering projects across industries, ranging from automotive and aerospace to construction and electronics. Companies are seeking more efficient and cost-effective ways to develop intricate designs and ensure their functionality, and CAE offers a compelling solution. Besides, the integration of artificial intelligence (AI) and machine learning (ML) into CAE software is reshaping the industry. These technologies enable predictive modeling and automated optimization, allowing engineers to explore a broader design space and discover innovative solutions faster. Businesses that embrace AI and ML in CAE gain a competitive edge by accelerating their product development cycles and reducing costly trial-and-error iterations. Moreover, sustainability is becoming a paramount concern for businesses worldwide. CAE is playing a pivotal role in this context by helping organizations design eco-friendly products and processes. Furthermore, the global push toward Industry 4.0 and the Internet of Things (IoT) is escalating the demand for CAE. As manufacturing processes become more digitized and interconnected, CAE aids in the design of smart and interconnected systems. It ensures that components work seamlessly together and that systems are reliable, safe, and efficient.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
Finite Element Analysis (FEA)
Computational Fluid Dynamics (CFD)
Multibody Dynamics
Optimization Simulation
Breakup by Deployment Type:
On-premises
Cloud-based
Breakup by End-Use Industry:
Automotive
Defense Aerospace
Electronics
Medical Devices
Industrial Equipment
Others
Breakup by Region:
North America (U.S. Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East Africa
Competitive Landscape:
Some of the key players in the market include:
Altair Engineering Inc.
Ansys Inc.
Aspen Technology Inc.
Autodesk Inc.
BenQ Asia Pacific Corp.
Bentley Systems Inc.
Casio Computer Co. Ltd.
Dassault Systemes
ESI Group
Exa Corporation
Mentor Graphics Corporation
MSC Software Corporation
NUMECA International
Seiko Epson Corporation
Siemens Digital Industries Software
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