Computer Aided Engineering Market Outlook 2024: Exclusive Report By The Business Research Company | Altair Engineering Inc., Dassault Systèmes SE, ESI Group, Siemens AG, Hexagon AB, Seiko Epson Corporation

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2198

The Business Research Company offers in-depth market insights through Computer Aided Engineering Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The computer aided engineering market size has grown strongly in recent years. It will grow from $8.97 billion in 2023 to $9.87 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period can be attributed to advancements in computational power, globalization of engineering work, increasing complexity in product design, simulation-driven design, cost and time savings, regulatory compliance requirements, automotive crash testing simulation..

The computer aided engineering market size is expected to see strong growth in the next few years. It will grow to $14.1 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to rise of industry 4.0 and smart manufacturing, increased complexity in electronics design, focus on sustainability and environmental impact, enhanced human-machine interaction simulations, digitalization of construction and infrastructure, increased use in consumer electronics.. Major trends in the forecast period include increased integration of multiphysics simulations, advancements in high-performance computing (hpc), growing adoption of cloud-based cae, focus on user-friendly interfaces and workflows, increased use of generative design, use of virtual prototyping for system-level simulation..

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Market Segmentation:
The computer aided engineering market covered in this report is segmented -

1) By Type: Finite Element Analysis (FEA), Computational Fluid Dynamics (CFD), Multibody Dynamics, Optimization and Simulation
2) By Depolyment: On-Premise, Cloud-Based
3) By End-Use: Automotive, Defense and Aerospace, Electronics, Medical Devices, Industrial Equipment

Major Driver - Rising Automation In Manufacturing Boosts Computer-Aided Engineering Market
Increasing automation in the manufacturing sector is expected to propel the growth of the computer-aided engineering market going forward. 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, in September 2023, according to the International Federation of Robotics (IFR), a Germany-based professional non-profit organization, the total number of service robots sold for professional use hit 158,000 units in 2022-an increase of 48%. It is recorded that 553,052 industrial robot installations are in factories around the world-a growth rate of 5% in 2022, year-on-year. Therefore, increasing automation in the manufacturing sector is expected to drive the growth of the computer-aided engineering market.

Competitive Landscape:
Major companies operating in the computer aided engineering market report are Altair Engineering Inc., Dassault Systèmes SE, ESI Group, Siemens AG, Hexagon AB, Seiko Epson Corporation, Exa Corporation, Bentley Systems Inc., Numeca International, Dell Inc., Aspen Technology Inc., Symscape Pty Ltd, Synopsys Inc., Aveva Group plc, Autodesk Inc., ANSYS Inc., PTC Inc., COMSOL Inc., MSC Software Corporation, Mentor Graphics Corporation, The MathWorks Inc., OpenText Corporation, Siemens Industry Software NV, CD-adapco, ETA Engineering Inc., Ricardo Software, ZWSOFT Co. Ltd., Zemax LLC, Flow Science Inc., GNS Systems GmbH, AVL List GmbH, EnginSoft S.p.A.

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Top Trend - Technological Advancements Drive Computer-Aided Engineering Market Trends
Technological advancements are the key trend gaining popularity in the computer-aided engineering market. 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. When paired with the industry-leading Simcenter Nastran, Simcenter Femap offers sophisticated data-driven and graphical results display and evaluation, resulting in a full CAE solution that enhances product performance.

The Table Of Content For The Market Report 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 Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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