San Francisco, 17 January 2030: The Report Computer Aided Engineering Market Size, Share And Trends Analysis By Component (Software, Services), By Deployment Model, By End-use, By Region, And Segment Forecasts, 2024 - 2030
The global computer aided engineering market size is expected to reach USD 23,405.4 million by 2030, registering a CAGR of 12.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. Rapid growth of the wearable industry is likely to increase the use of CAE software in the electronics industry. The major players in the market are in search of new sources of revenue as the smartphone market is in the maturity stage. As a result, the demand for wearable technology has increased the demand during the forecast period.
The growing penetration of IoT, tablets, and smartphones is expected to boost the CAE market growth. Owing to the growth of IoT, wearable devices, used in the fields of medicine, fitness, transportation, education, entertainment, and gaming, are increasing; paving way for the growth of the CAE market. Miniaturization of electronic devices and sensors and persuasive connectivity with lowered costs have immensely contributed to the growth of wearable technology devices.
Government regulations, mandating applications, such as collision avoidance, parking assistance systems, wireless communication technology, and interactive infotainment systems, in the upcoming car technologies to increase driver safety, are anticipated to raise the demand for CAE software. Additionally, technological advancements in the automotive sector, including driverless cars and semi-autonomous cars, are further anticipated to boost the industry demand.
The emerging new engineering modes such as 3D printing, building information modeling, and concurrent engineering is likely to influence the market. 3D printing is a form of additive manufacturing that allows users to print any object as a 3-D image. The technology helps in reducing production costs and developing new methods of production. Ease of use and unlimited customization capabilities are the key factors driving the 3D printing market which is further expected to positively impact the computer aided engineering market demand.
Request sample report of Computer Aided Engineering Market@ https://www.grandviewresearch.com/industry-analysis/computer-aided-engineering-cae-market/request/rs1
The prevailing open-source software is anticipated to restrain the market growth over the projected period. They are available for free on the web; however, the vendors charge for support, customization, and maintenance services. Linux has been leading the open architecture software market. Open-source software has been a boon for small software vendors, due to which, the large enterprises have been facing negative impacts. The major drivers of open-source technology are the minor flaws and bugs that can be tested and fixed immediately.
Computer Aided Engineering Market Highlights
• Based on component, the market is segmented into software and services. The software segment accounted the major market share in 2023 and is anticipated to continue its dominance in the coming years. • Computational fluid dynamics involves qualitative prediction of fluid flow using mathematical modeling and software tools. CFD is used in analyzing turbulence, flow, and pressure distribution of gasses & liquids and their interaction with different structures. • In 2023, the on-premise segment held a market share exceeding 63% in the global market and is expected to exhibit a CAGR of nearly 10.5% from 2024 to 2030. • Based on end-use, the industry is segmented into defense & aerospace, automotive, electronics, medical devices, industrial equipment, and others. In 2023, the automotive industry held the largest market share of more than 29% in the global market and expected to exhibit a significant CAGR from 2024 to 2030. • The defense and aerospace end-use is expected to witness the highest growth rate over the forecast period, owing to the increasing use of CAE software. • In 2022, North America dominated the CAE market with a market share of more than 33% and is expected to continue its dominance over the forecast period owing to the presence of bio-diverse cultures and increasing automation in the manufacturing sector. • The APAC regional market is expected to witness exponential growth over the forecast period with a CAGR of 13.4%.
The computer aided engineering (CAE) market is poised for unprecedented growth during the forecast period, as integrated software solutions eliminate the need for multiple prototypes and product recall concerns. As a result, the cost associated with prototyping and product recall strategy is highly reduced. Moreover, the increasing use of CFD software for analyzing temperature in battery modules and extending battery life & performance is anticipated to drive the market growth.
The market all over the globe is witnessing a drastic shift from on-premise computing to cloud-based computing. Cloud computing reduces costs related to hardware acquisition and software licensing, installation, and support. This is further expected to increase the use of the CAE software. Additionally, companies are adopting the Hyper-Converged Infrastructure (HCI) platform for building a private cloud that enables advanced computation and storage services.
Computer Aided Engineering Market Report Scope
Report Attribute Details Market Size Value in 2023 USD 10,175.4 million Revenue forecast in 2030 USD 23,405.4 million Growth Rate CAGR of 12.8% from 2024 to 2030 Actual Data 2017 - 2023 Forecast period 2024 - 2030
Customers are increasingly quantifying their software contributions. As a result, companies are willing to pay high license fees for the software that supports low-value processes. They are developing alternating pricing and delivering models, alike Software as a Service (SaaS) pricing models, enabling customers to opt for a pay-as-you-go subscription plan. However, the new pricing model is expected to affect the software providers’ cash flow, revenue recognition, and finance.
The market for value added resellers (VAR) is expected to have significant growth over the projected period. VARs will help in reducing the gap between the end-users and suppliers. VARs receive certifications and training from suppliers to increase their credibility. As a result, the growth of VARs is expected to have a positive effect on the growth of the computer aided engineering market over the forecast period.
17 February 2020 - The global Computer Aided Engineering (CAE) Market size was valued at USD 5.23 billion in 2015 and is projected to reach USD 12.8 billion by 2025.
Global Computer Aided Engineering (CAE) market is expected to observe steady growth owing to increasing the need for collective product improvement.
Computer-aided engineering application has the provision to undertake various tasks which include analysis, validation, simulation, and manufacturing of engineering goods.
Application of integrated CAE tools results in a reduction in product analysis time and product life cycle time.
This helps in improving the overall efficiency.Request a Sample Copy of This Report @ https://www.millioninsights.com/industry-reports/computer-aided-engineering-cae-marketIncreasing usage of smartphones and tablets is expected to propel the market growth.
In order to achieve a competitive edge, market players are determined to make extensive investments in research and development.Cloud-based CAE solution provides great opportunities and is anticipated to boost the market growth over the forecast period.
