Engineering Software Market: Major Trends Reshaping the Future of the Industry

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What Will the Engineering Software Industry Market Size Be by 2025?
The size of the engineering software market has seen quick expansion in the past few years. The projections show an inflation from $55.63 billion in 2024 to $64.97 billion in 2025, with a compound annual growth rate (CAGR) of 16.8%. Factors like ever-increasing complexity in product designs, a globalized engineering workforce, mandatory regulatory requirements, cost and time reductions, and the rising use of simulation tools have been attributed to the impressive growth during the historic period.

What's the Long-Term Growth Forecast for the Engineering Software Market Size Through 2029?
Anticipated to witness swift expansion in the coming years, the engineering software market is projected to attain a valuation of $119.52 billion by 2029, escalating at a compound annual growth rate (CAGR) of 16.5%. The market surge during the forecasted duration can be associated with factors such as the amplified concentration on additive manufacturing, bolstered cybersecurity focus, demand for cloud-based solutions, and application of digital twins in various industries. The prominent trends expected during the forecast period encompass cloud-based solutions, integration of Industry 4.0 and IoT, additive manufacturing, the use of open-source software, and emphasis on user experience (UX) design.

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What Are the Key Growth Drivers Fueling the Engineering Software Market Expansion?
The expansion of automation in manufacturing is anticipated to drive the growth of the engineering software market. Manufacturing automation involves the execution of tasks or processes with limited human intervention through the use of technology and machinery. Factors such as an aging workforce, skills shortages, labor scarcities, the demand for customization, and the advantages of quality control are causing an increase in manufacturing automation. Engineering software improves manufacturing automation by supplying the essential tools and functions for effective design, simulation, analysis, control, and optimization of automatic processes. For example, according to the International Federation of Robotics, a non-profit organization based in Germany, in May 2023, industrial robot installations in manufacturing rose by 12% overall in 2022, reaching 41,624 units. Predominantly made up of US, Canadian, and Mexican businesses, the automotive industry was the leading adopter, with 20,391 installed units, reflecting a 30% increase from 2021. Consequently, the engineering software market is expanding due to the increase in manufacturing automation.

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What Are the Key Trends Driving Engineering Software Market Growth?
Leading firms in the engineering software market are striving to produce cutting-edge digital engineering solutions in order to offer an all-encompassing solution for today's manufacturing needs and acquire a market advantage. Digital engineering solutions are a collection of technology-based strategies and processes used for designing, developing, and maintaining engineering products and systems. For example, CAPTURE 3D, a software company from the US that offers 3D metrology solutions, rolled out the ZEISS INSPECT in November 2023. This 3D metrology software is built to address the evolving challenges in manufacturing and engineering. ZEISS INSPECT was created to process 3D, CT, or motion data and supports the complete inspection procedure, ranging from scanning to analyzing and reporting. This software enables users to handle optical 3D data, volume data, and airfoils irrespective of the metrology method employed for data collection. This streamlines processes, enhances efficiency, and tackles issues related to measurement technology. It also includes the Autosurfacing app that automatically transforms scan data into highly accurate CAD models.

How Is the Engineering Software Market Segmented?
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 Companies Are Leading the Charge in Engineering Software Market Innovation?
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

Which Regions Are Leading the Global Engineering Software Market in Revenue?
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.

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