Powering the Future: How Rising Automation in Manufacturing Sector Fuels the Surge of the Computer-Aided Engineering Market || Altair Engineering Inc., Dassault Systèmes SE, ESI Group, Siemens AG

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Computer Aided Engineering Global Market Report 2023 the increasing automation in the manufacturing sector is the major driver for the computer aided engineering market's growth in the forecast period. Automation refers to the development and deployment of technologies for the production and delivery of products and services with little or no human participation. Automation technologies such as computer-aided drafting and computer-assisted N/C tape preparation are now available and widely used in the manufacturing sector to help reverse the troubling trend of declining productivity. For instance, according to Impact Networking, a US-based integrated business technology company, in 2020, 43% of manufacturers across the world will have employed robotic process automation, with another 43% planning to implement RPA programs in the future.

The global computer-aided engineering market size is expected to grow from $8.11 billion in 2022 to $8.90 billion in 2023 at a compound annual growth rate (CAGR) of 9.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The computer-aided engineering market size is expected to grow to $12.67 billion in 2027 at a CAGR of 9.2%.

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Major competitors in the computer-aided engineering market are Altair Engineering Inc., Dassault Systèmes SE, ESI Group, Siemens AG, Hexagon AB, Seiko Epson Corporation, Exa Corporation, Bentley Systems Inc.

A key trend in the computer-aided engineering market includes technological advancements. Major companies operating in computer-aided engineering are focused on developing new technological solutions to attain a competitive edge in the market. For instance, in June 2021, Siemens AG, a German-based industrial manufacturing company, launched Simcenter Femap, a sophisticated simulation application that allows users to create, update, and evaluate finite element models of complicated goods or systems. Simcenter Femap offers sophisticated data-driven and graphical result visualization and assessment when paired with the industry-leading Simcenter Nastran, resulting in a full computer-aided engineering solution that optimizes the product's performance.

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The computer-aided engineering market is segmented -

• By Type: Finite Element Analysis (FEA), Computational Fluid Dynamics (CFD), Multibody Dynamics, Optimization, and Simulation

• By Deployment: On-Premise, Cloud-Based

• By End-Use: Automotive, Defense and Aerospace, Electronics, Medical Devices, Industrial Equipment

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the computer-aided engineering market.

The Business Research Company's "Global Computer Aided Engineering Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Computer Aided Engineering Market Include:
1. Executive Summary
2. Computer Aided Engineering Market Characteristics
3. Computer Aided Engineering Market Trends And Strategies
4. Computer Aided Engineering Market - Macro Economic Scenario
5. Computer Aided Engineering Market Size And Growth
……………
27. Computer Aided Engineering Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Computer Aided Engineering Market
29. Computer Aided Engineering Market Future Outlook And Potential Analysis
30. Appendix

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