Computer-Aided Engineering Market exhibiting a CAGR of 10.4% during 2023-2028

IMARC Group, a leading market research company, has recently releases report titled "Computer-Aided Engineering Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global computer-aided engineering market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How big is the computer-aided engineering market?
The global computer-aided engineering market size reached US$ 9.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 16.6 Billion by 2028, exhibiting a growth rate (CAGR) of 10.4% during 2023-2028.

What is computer-aided engineering?
Computer-aided engineering (CAE) refers to a process of integrating and simulating the performance of a product using virtual tools and software. It involves replicating the physical properties of a product, conducting thermal and finite element analysis, and executing various optimizations. It also assists in enhancing the design and efficiency of a product while resolving engineering problems. In addition, it supports faster product development by preventing the need for designing a physical prototype in the early developmental stages.

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What are the growth prospects and trends in the computer-aided engineering industry?
The growing cloud deployment of software represents one of the key factors positively influencing the demand for CAE integrated with computer-aided drafting (CAD). Besides this, the escalating demand for consumer electronics like smartphones, laptops, and wearable devices for fitness, health, educational, and entertainment purposes is favoring the adoption of CAE. Moreover, the advent of semi-automated and driverless cars integrated with software for collision avoidance, interactive infotainment systems, and parking assistance systems is propelling the market growth.

What is included in market 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

Who are the key players operating in the industry?
The report covers the major market players including:

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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