Press release
Global Finite Element Analysis (FEA) Software Market Projected to Surpass $12.56 Billion by 2029 with 12.4% Annual Growth
Finite Element Analysis FEA Software Market
The finite element analysis (FEA) software market will grow from $7.01 billion in 2024 to $7.87 billion in 2025, with a CAGR of 12.3%. This growth can be attributed to the rise of smartphones and tablets, the evolution of TV and monitor displays, increased investment in research and development, enhanced display quality, and consumer demand for innovative solutions.
The finite element analysis (FEA) software market is projected to grow rapidly, reaching $12.56 billion by 2029 at a CAGR of 12.4%. This growth is attributed to its adoption in automotive displays, foldable devices, mass production, and new applications. Trends include wearable displays for AR/VR, rollable displays, enhanced durability in foldable devices, and flexible displays in smart home devices.
What Is Contributing to the Growth of the Finite Element Analysis (FEA) Software Market?
The increase in liquid fuel production is expected to drive the finite element analysis (FEA) software market. FEA software helps optimize structural integrity, heat transfer, and fluid dynamics in liquid fuel production, improving efficiency and safety. The US Energy Information Administration reports that the UK produced 934,000 barrels of liquid fuels per day in 2021, with an increase in crude oil production in 2022. This boost in liquid fuel production is driving the demand for FEA software.
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Which Key Market Leaders Are Driving Finite Element Analysis (FEA) Software Industry Growth?
Major companies operating in the finite element analysis (fea) software market report are Siemens AG (Siemens PLM Software Inc.), IBM Corporation, Dassault Systemes, Hexagon AB, Keysight Technologies, Synopsys Inc., Autodesk Inc., ANSYS Inc., PTC Inc., Bently Systems Inc., Altair Engineering Inc., Aspen Technology, MSC Software Corporation, ESI Group, COMSOL AB, CD-ADAPCO Group, SimuTech Group, Flownex, NEi Software, NUMECA International, SimScale GmbH, BETA CAE Systems, Flow Science, ADINA R&D, Inc., Vanderplaats R&D Inc
What Are the Emerging Trends in the Finite Element Analysis (FEA) Software Industry?
Key companies in the finite element analysis software market are introducing innovative solutions like finite element analysis solvers. An FEA solver is the primary computational tool within FEA software that performs intricate calculations to assess a model's behavior under various conditions. For instance, in April 2023, Altair Engineering Inc., a US-based software firm, launched OpenRadioss, a free, publicly available FEA software for simulating dynamic events like crashes and impacts. OpenRadioss uses the same input format and source code as its commercial counterpart, allowing easy adaptation for users familiar with Radioss.
What Are the Main Segments in the Finite Element Analysis (FEA) Software Market?
The finite element analysis (FEA) software market covered in this report is segmented -
1) By Software Type: Structural Analysis, Computational Fluid Dynamics (CFD), Electromagnetic Analysis, Thermal Analysis, Multi-physics Analysis
2) By Deployment: On-premises, Cloud-Based
3) By Application: Automotive Industry, Aerospace And Defense Industry, Electrical And Electronics Industry, Civil Engineering And Construction, Industrial Machinery, Medical Devices, Energy And Power, Other Applications
Subsegments:
1) By Structural Analysis: Static Analysis, Dynamic Analysis, Nonlinear Analysis
2) By Computational Fluid Dynamics (CFD): Incompressible Flow Analysis, Compressible Flow Analysis, Heat Transfer Analysis
3) By Electromagnetic Analysis: Static Electromagnetic Analysis, Time-Varying Electromagnetic Analysis
4) By Thermal Analysis: Steady-State Thermal Analysis, Transient Thermal Analysis
5) By Multi-Physics Analysis: Coupled Field Analysis, Fluid-Structure Interaction (FSI)
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Which Geographic Area Leads the Finite Element Analysis (FEA) Software Market?
North America was the largest region in the finite element analysis (FEA) software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the finite element analysis (fea) software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Finite Element Analysis (FEA) Software Global Market Report?
- Market Size Analysis: Analyze the Finite Element Analysis (FEA) Software Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Finite Element Analysis (FEA) Software Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Finite Element Analysis (FEA) Software Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Finite Element Analysis (FEA) Software Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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