Computer Aided Engineering (CAE) Market size is set to grow by USD 4.69 billion from 2024-2028, Growth of the smartphone industry boost the market, AI Role and Impact, Technavio
NEW YORK, Aug. 22, 2024 /PRNewswire/ -- The global computer aided engineering (CAE) market size is estimated to grow by USD 4.69 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 9.45% during the forecast period. Growth of the smartphone industry is driving market growth, with a trend towards increasing adoption of cfd for battery designing. However, lack of awareness among end-users about developments in CFD poses a challenge. Key market players include Altair Engineering Inc., ANSYS Inc., Autodesk Inc., Bentley Systems Inc., BETA CAE Systems, Cadence Design Systems Inc., Ceetron AS, COMSOL AB, Dassault Systemes SE, ESI Group SA, Fidesys LLC, Flow Sciences Inc., Hexagon AB, Parametric Designs and Solutions, PTC Inc., Seiko Epson Corp., Siemens AG, Simerics Inc., SimScale GmbH, and Symscape.
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Computer Aided Engineering (CAE) Market Scope
Report Coverage
Details
Base year 2023
Historic period
2018 - 2022
Forecast period
2024-2028
Growth momentum & CAGR Accelerate at a CAGR of 9.45%
Market growth 2024-2028
USD 4699.2 million
Market structure
Fragmented
YoY growth 2022-2023 (%) 8.42
Regional analysis
Europe, North America, APAC, South America, and Middle East and Africa
Performing market
contribution APAC at 32%
Key countries
US, Germany, China, France, and Japan
Key companies profiled Altair Engineering Inc., ANSYS Inc., Autodesk Inc., Bentley Systems Inc., BETA CAE Systems, Cadence Design
Systems Inc., Ceetron AS, COMSOL AB, Dassault Systemes SE, ESI Group SA, Fidesys LLC, Flow Sciences Inc.,
Hexagon AB, Parametric Designs and Solutions, PTC Inc., Seiko Epson Corp., Siemens AG, Simerics Inc., SimScale
GmbH, and Symscape
Market Driver
The Computer Aided Engineering (CAE) market experiences significant growth due to the increasing adoption of Computational Fluid Dynamics (CFD) for battery design. CFD's capacity to simulate fluid flow, heat transfer, and electrochemical processes in battery design enhances efficiency, reducing the need for costly and time-consuming physical prototypes. This efficiency is crucial for meeting the escalating demand for high-performance batteries in electric vehicles and renewable energy storage systems. Furthermore, CFD's role in developing advanced battery technologies, such as solid-state and lithium-sulfur batteries, necessitates sophisticated modeling capabilities, driving the demand for CAE tools. Ensuring battery safety and regulatory compliance through CFD simulations also increases its adoption, mitigating risks like thermal runaway and short circuits. The integration of CFD with other CAE tools, like Finite Element Analysis (FEA), offers a holistic approach to battery design, enhancing overall efficiency and optimization. By enabling early identification of design issues, CFD reduces development costs and accelerates time-to-market. As industries pursue technological advancements and competitive edge, the reliance on CFD for customized and optimized battery solutions significantly contributes to the expanding CAE market, making these tools essential in modern engineering processes. Consequently, the increasing adoption of CFD for battery design propels the growth of the global CAE market.
The Computer-Aided Engineering (CAE) market is experiencing significant growth, particularly in the passenger aircraft industry, where CAE solutions are used to analyze structural deformation during high-altitude flight, reduce fuel consumption, and decrease carbon emissions and footprint. Digital technologies, automation, cloud, and Building Information Modeling (BIM) are driving trends in this market. CAE solutions are also crucial for industries like consumer electronics, healthcare, aerospace & defense, and industrial equipment, where product durability, quality, and process management are key. CAE solution suppliers provide software for Finite Element Analysis (FEA), Computational Fluid Dynamics (CFD), and Multibody Dynamics (MBD), among others. Open-source platforms and Software-as-a-Service (SaaS) are gaining popularity. CAE solutions are also essential for defense and aerospace, electric vehicles, and industries dealing with composite parts, hardware failure, and thermal analysis. Value-added resellers play a vital role in delivering CAE solutions to various industry verticals.
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Market Challenges
-- The global Computer Aided Engineering (CAE) market faces a significant
challenge in increasing awareness and understanding of the advantages of
modern Computer Fluid Dynamics (CFD) software among end-users.
Traditional CFD software posed challenges such as high expertise
requirements, extensive training costs, and the need for supercomputers
for analysis. However, the latest versions of CFD software have
addressed these issues by reducing complexity, eliminating the need for
extensive mathematical knowledge, and enabling use on laptops and PCs.
Despite these advancements, many small-scale manufacturers, particularly
in equipment markets like lawn sprinklers, have yet to adopt CFD due to
affordability concerns. This represents an opportunity for CFD software
vendors to expand their reach into untapped markets and promote the
benefits of their technology beyond traditional industries. The CAE
market, including cloud CFD, has vast potential, but its growth may be
hindered by the persisting misconceptions regarding its applicability
and accessibility. CFD software can be utilized in all fluid-handling
equipment, including lawn sprinklers, for optimizing design and
performance. By addressing affordability and awareness, the CAE market
can unlock new opportunities and drive growth.
-- The Computer Aided Engineering (CAE) market is experiencing significant
growth due to the increasing demand for simulation-based design and
problem-solving capabilities in various engineering sectors. Challenges
such as engineering modes, concurrent engineering, and design iterations
are being addressed through advanced CAE technology solutions. Startups
and small-to-medium enterprises are benefiting from affordable CAE
software products and cloud-based services. CAE technology companies and
software developers are focusing on complex solutions that incorporate
the Internet of Things, machine learning, and artificial intelligence
for predictive modeling and optimization. Electronics companies are
enhancing product quality and accelerating time-to-market with CAE. CAE
software is essential for industries like commercial aviation, where
energy-efficient aircraft, temperature simulation, and battery life
optimization are critical. CAE solutions are available through licensing
fees or pay-as-you-go subscriptions, providing flexibility for
businesses of all sizes. CAE software is used for validation,
simulation, and prototype development, enabling engineers to make
informed decisions and improve design efficiency.
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Segment Overview
This computer aided engineering (cae) market report extensively covers market segmentation by
1. Type
-- 1.1 FEA
-- 1.2 CFD
2. End-user
-- 2.1 Automotive
-- 2.2 Aerospace and defense
-- 2.3 Electrical and electronics
-- 2.4 Others
3. Geography
-- 3.1 Europe
-- 3.2 North America
-- 3.3 APAC
-- 3.4 South America
-- 3.5 Middle East and Africa
1.1 FEA- Computer-Aided Engineering (CAE) market, specifically the Finite Element Analysis (FEA) software segment, plays a crucial role in the manufacturing industry. FEA software enables the evaluation of product designs' functionality prior to physical prototype production. In industries such as electrical and electronics, FEA is essential for estimating structural strength and behavior, simulation, modeling, and design optimization. FEA software reduces costs by creating virtual prototypes for simulations, minimizing warranty and product return costs, and expediting product development. High Research and Development (R&D) investments are a significant factor fueling the FEA market's growth. R&D investments are allocated for purchasing new technologies, hardware, software (including FEA), and services to create innovative products. The electrical and electronics industry heavily relies on FEA for risk-free product testing, cost reduction, and multitasking. FEA software helps engineers tackle complex problems related to power consumption reduction, electronic signal quality checks, and bandwidth improvement. The global FEA market's growth is driven by R&D investments and stringent government regulations. Cloud-based FEA solutions' availability is another key factor contributing to the market's expansion, with APAC expected to adopt these solutions more rapidly due to the presence of numerous electrical and electronics companies.
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Research Analysis
The Computer Aided Engineering (CAE) market encompasses a range of computer software solutions used to simulate and analyze various engineering applications. These solutions include Finite Element Analysis (FEA) and Computational Fluid Dynamics (CFD) software for modeling and analyzing structural and fluid dynamics behavior. CAE solutions are utilized across diverse industries such as aerospace, electric vehicles, and manufacturing to enhance product durability, quality, and process management. Value added resellers play a crucial role in providing CAE software and services to businesses. CAE software is integral to simulation, validation, and concurrent engineering, enabling the creation of integrated CAE data and 3D prototypes. Licensing fees and pay-as-you-go subscriptions are common business models for CAE software. Building information modeling and 3D printing are also integrating with CAE solutions to streamline engineering modes and improve product development.
Market Research Overview
The Computer Aided Engineering (CAE) market is a dynamic and innovative industry that provides engineers with advanced tools for simulation, analysis, and optimization of complex systems. CAE solutions, including Finite Element Analysis (FEA) and Computational Fluid Dynamics (CFD) software, are essential for various industries such as electric vehicles, aerospace, defense, electronics, semiconductors, energy, and more. CAE technology enables product durability and quality enhancement, process management, and concurrent engineering. Value added resellers play a crucial role in delivering CAE solutions to startups, small-to-medium enterprises, and engineering sector clients. CAE software products offer decision-making capabilities, simulation-based design, and optimization algorithms, including machine learning and artificial intelligence. CAE solutions are applied to various industries, from electronics companies focusing on product quality enhancement and time-to-market acceleration to aerospace and defense, where they contribute to the design of energy-efficient aircraft, low-emission planes, and solar panels. The market also includes cloud-based CAE, localization strategies, and licensing fees or pay-as-you-go subscriptions. CAE technology is essential for modeling information, validation, and prototyping, addressing challenges such as temperature, battery life, fan performance, noise pollution, and fuel consumption. Digital technologies, automation, and cloud services are transforming the CAE market, enabling real-time collaboration, optimization, and predictive modeling.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
-- Type
-- FEA
-- CFD
-- End-user
-- Automotive
-- Aerospace And Defense
-- Electrical And Electronics
-- Others
-- Geography
-- Europe
-- North America
-- APAC
-- South America
-- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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