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In-Depth Analysis of the Engineering Software Market: Growth Opportunities, Key Trends, and Forecast 2025-2034
Engineering Software Market Size
The engineering software market has seen rapid growth in recent years. It will increase from $55.63 billion in 2024 to $64.97 billion in 2025, at a compound annual growth rate (CAGR) of 16.8%. The growth is driven by increasing complexity in product designs, globalization of the engineering workforce, regulatory compliance requirements, cost and time savings, and the growing adoption of simulation tools.
The engineering software market will reach $119.52 billion by 2029 at a CAGR of 16.5%, driven by additive manufacturing, cloud solutions, and digital twins. Key trends include IoT integration, additive manufacturing, and open-source software.
What Is Driving the Growth Trajectory of the Engineering Software Market?
Rising automation in manufacturing is expected to propel the growth of the engineering software market. Automation involves using technology and machinery to perform tasks with minimal human intervention. The demand for manufacturing automation is growing due to factors like an aging workforce, labor shortages, demand for customization, and quality control. Engineering software plays a vital role in supporting automation by providing tools for designing, simulating, analyzing, controlling, and optimizing automated processes. For instance, industrial robot installations increased by 12% in 2022, reaching 41,624 units, with the automotive industry being a top adopter. Therefore, rising automation in manufacturing is driving the growth of the engineering software market.
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Which Leading Companies Are Shaping the Growth of the Engineering Software Market?
Major companies operating in the engineering software market are Siemens Ltd., International Business Machines Corporation, General Electric Company, Oracle Corporation, Schneider Electric SE, Honeywell International Inc., SAP SE, ABB Ltd., Emerson Electric Co., HCL Technologies, Rockwell Automation Inc., Dassault Systèmes, Hexagon AB, Keysight Technologies, Synopsys Inc., Autodesk Inc., Ansys Inc., PTC Inc., National Instruments Corporation, Aveva Group Plc., MathWorks Inc., Bentley Systems Inc., Altair Engineering Inc., Altium Limited, Aras Corp, ComplianceQuest
What Are the Key Segments of the Engineering Software Market?
The engineering software market covered in this report is segmented -
1) By Component: Software, Services
2) By Deployment: Cloud, On-Premises
3) By Application: 3D Printing, Enterprise Resource Planning, Plant Layout, Drafting And 3D Modeling, Project Management, Knowledge Management, Product Design And Testing
4) By End-Use: Automotive, Aerospace And Defense, Electronics, Medical Devices, Architecture, Engineering, And Construction (AEC), Other End-Uses
Subsegments:
1) By Software: Computer-Aided Design (Cad) Software, Computer-Aided Engineering (Cae) Software, Product Lifecycle Management (Plm) Software, Finite Element Analysis (Fea) Software, Simulation Software, Computer-Aided Manufacturing (Cam) Software, 3D Modeling And Visualization Software, Building Information Modeling (Bim) Software, Geographic Information Systems (Gis) Software, Embedded Systems Design Software
2) By Services: Consulting Services, Software Implementation Services, Customization And Integration Services, Training And Support Services, Managed Services, Maintenance And Upgrade Services, Cloud-Based Engineering Services, System Integration Services, Simulation And Testing Services, Data Analytics And Optimization Services
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Which Region Dominates the Engineering Software Market?
North America was the largest region in the engineering software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the engineering software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Is Covered In The Engineering Software Global Market Report?
- Market Size Analysis: Analyze the Engineering Software Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Engineering 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 Engineering Software Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Engineering Software Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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