Press release
Finite Element Analysis (FEA) Software Market Size Forecasted To Achieve $12.56 Billion By 2029 With Steady Growth
Finite Element Analysis (FEA) Software Market Size
What Is the Finite Element Analysis (FEA) Software Market Size and Projected Growth Rate?
Recent years have seen a swift expansion in the market size of finite element analysis (FEA) software. Its growth is anticipated to rise from $7.01 billion in 2024 to $7.87 billion in 2025, showing a compound annual growth rate (CAGR) of 12.3%. Factors such as the uptake of smartphones and tablets, progression in TV and monitor displays, heightened investments in research and development, improved display quality, and consumer appetite for innovation have considerably contributed to the growth during the historical period.
There is an anticipated quick expansion of the finite element analysis (FEA) software market in the coming years. It is projected to escalate to $12.56 billion in 2029 with a compound annual growth rate (CAGR) of 12.4%. The growth during the forecast period is due to factors such as its use in automotive displays, the commercialization of foldable devices, commencement of mass production, branching into new applications, and increasing popularity in gaming devices. During the forecast period, key trends to watch out for include wearable displays for AR/VR, the creation of rollable displays, improved durability of foldable devices, flexible displays in smart home gadgets, and technological advancements.
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What Are the Major 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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What Are The Driving Finite Element Analysis (FEA) Software Market Evolution?
The surge in the production of liquid fuel is anticipated to drive the expansion of the finite element analysis software market. The process of liquid fuel production, which includes the extraction, refinement, and utilization of substances like gasoline and diesel for energy, is where finite element analysis (FEA) software comes into play. The FEA software contributes to the optimization of structural integrity, heat transfer, and fluid dynamics in the apparatus used for liquid fuel production, ensuring operations are efficient, economical, and minimal in their environmental impact. For instance, the United Kingdom, as reported in May 2022 by the US Energy Information Administration - a government organization in the US, saw the production of 934,000 barrels per day (b/d) in total liquid fuels in 2021, whereas in 2022, crude oil production in the UK escalated to 793 barrels/per day. Thus, the rise in liquid fuel production is fueling the growth of the finite element analysis software market.
Which Firms Dominate The Finite Element Analysis (FEA) Software Market Segments?
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 Trends Are Expected to Dominate the Finite Element Analysis (FEA) Software Market in the Next 5 Years?
Key players in the finite element analysis software market are focusing on the development of innovative solutions, including finite element analysis solvers. A Finite Element Analysis (FEA) solver forms the fundamental computation component of the FEA software. It carries out the intricate calculations needed to assess a model's behaviour under diverse situations. For instance, Altair Engineering Inc., an American software company, in April 2023, unveiled OpenRadioss. This freely-accessible FEA software simulates dynamic incidents such as collisions, crashes, and high-pressure loads. It primarily utilizes the same source code and input format as its commercial equivalent, enabling users conversant with Radioss to smoothly make the switch.
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Which Is The Largest Region In 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Finite Element Analysis (FEA) Software Market?
2. What is the CAGR expected in the Finite Element Analysis (FEA) Software Market?
3. What Are the Key Innovations Transforming the Finite Element Analysis (FEA) Software Industry?
4. Which Region Is Leading the Finite Element Analysis (FEA) Software Market?
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