Computer Aided Engineering Market was valued at $8 billion in 2021 and to garner $19.2 billion by 2031

According to a new report published by Allied Market Research, titled, "Computer Aided Engineering Market, by Type (Finite Element Analysis, Computational Fluid Dynamics, Multibody Dynamics, Optimization and Simulation), by Deployment Model (On-Premise, Cloud), by End User (Automotive, Electronics, Defense, Healthcare, Industrial equipment, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031".

The computer aided engineering market size was valued at $8 billion in 2021, and is estimated to reach $19.2 billion by 2031, growing at a CAGR of 9.4% from 2022 to 2031.

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Computer aided engineering software optimizes engineering tasks. These tools are generally used to analyze the performance and robustness of assemblies and components. Computer aided engineering is used in many areas, such as aviation, space, automation, and shipbuilding. Furthermore, the key factors that drive the computer aided engineering (CAE) market trends include penetration of IoT, increased shift from on-premise computing to cloud-based computing, and increase in investment on R&D activities primarily drive the growth of the global computer aided engineering market.

However, high costs of investments in obtaining commercial licenses may hamper the market growth to some extent. On the other hand, increase in adoption of cloud-based solutions is expected to provide lucrative opportunities for the market growth during the forecast period.

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Competitive Analysis:
The competitive environment of Computer Aided Engineering Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, Computer Aided Engineering Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Key Players:
Ansys, Inc.
Altair Engineering
Autodesk, Inc.
Bentley Systems, Inc.
Dassault Systems
ESI Group
Mentor Graphics Corporation
MSC Software Corporation
Seiko Epson Corporation
Siemens AG and Many More

Region wise, the computer aided engineering market size was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to rapid penetration of IoT and increasing expenses for defense are a few factors that influencing the North America regional market share. However, LAMEA is expected to witness significant growth during the forecast period. Rise in expansion trend among key market players to increase their market presence in LAMEA primarily drives growth of the market in this region. Middle East and South Africa have witnessed increase in adoption of digitalized engineering and industrialization, which has increased demand for computer-aided engineering market growth in this region.

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The defense segment is expected to experience fastest growth in the coming years, owing adopt advanced and rapid manufacturing technologies that encourage innovation level and accelerate supply chain.

The COVID-19 pandemic does not have major negative impact on growth of the market, the outbreak of COVID-19 will surely provide numerous opportunities for the market to grow during the forecast period. These opportunities include rise in digital transformation trend in manufacturing and automotive enterprises, surge in demand for computer aided engineering solutions that are hosted or managed on cloud, and rapid increase in problems due to disruption of supply chain in the manufacturing sector.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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