According
to a new study published by Polaris Market, the global Computer Aided Engineering Market is
anticipated to reach USD 11.86 billion by 2026. The increasing penetration of
smartphones and tablets are the major factors driving the demand for CAE
software. The developing economies worldwide are witnessing high increase in
the demand for consumer electronics owing to rising affordability of the
people. Further, augmented use of modern engineering modes including, 3D
printing, building information modeling, concurrent engineering, and 3D
modelling are bolstering the computer aided engineering market growth for CAE
software worldwide. However, factors such as piracy of CAE software as well as
rising open-source threat are hampering the market growth to certain extent.
Also, inadequate technical expertise and lack of skilled labor in several
countries globally is restricting the growth of the computer aided engineering
market.
Some of the
key players operating in the computer aided engineering market includes Casio
Computer Co., Ltd., BenQ Corporation, Dell Technologies, Inc., Seiko Epson
Corp., NEC Display Solutions, PLM Software, Inc., Dassault Systemes, Exa
Corporation, ESI Group, and Numeca International among others.
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On the
other hand, cloud-based CAE tools helps the vendors to escalate market
penetration in small as well as medium sectors by providing advantages such as
reduced maintenance costs and operating costs as well as mobility of the companies.
Further, CAE software plays a significant role in the economic growth of
several industries including aerospace & defense, automotive, finance, oil
& gas, and healthcare among others.
During the
past few years, a trend has been noticed in the CAE software marketplace. The
players operating in the computer aided engineering market are entering into
partnerships as well as mergers & acquisitions between the CAE providers
and resellers. This has resulted in increased presence of value-added resellers
in large number, which is further acting as a driver to boost computer aided
engineering market growth. CAE software offers broad application range as well
as supports various tasks including, analysis, simulation, validation, and
manufacturing of engineering products. Although, CAE software is an analysis
and troubleshooting tool, several critics claims that there is a delay in the
accurate results, which acts as a hindrance to the market growth. Also, due to
availability of open-source solutions, companies often avoid to make
investments in attaining commercial licenses of CAE solutions thus, further
restraining the CAE software market growth. Moreover, increasing computational
fluid dynamics adoption that facilitates in reducing electric vehicles costs as
well as forecast of thermal conditions, is anticipated to propel the growth of
the computer aided engineering market during the coming years.
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On the
basis of geography, Europe is anticipated to account for the major share of the
computer aided engineering market in terms of revenues, followed by North
America. Also, Asia Pacific computer aided engineering market is expected to
demonstrate high growth during the forecast period. The presence of strong
automotive industry in Europe and consumer electronic industry in developing
nations of Asia Pacific are the factors influencing market growth for computer
aided engineering. Further, governments of the developing nations of Asia
Pacific region are encouraging the growth of their manufacturing sector by
providing funds, subsidies, and tax benefits in order to boost their economic
growth. This is anticipated to support the market growth owing to constant
increase in the manufacturing sector. Some of such initiatives include Make in
India as well as Made in China 2025. Also, automation of industrial equipment
is rising at a very high pace, which is likely to bolster the computer aided
engineering market growth. Moreover, constant increase in the labor costs
worldwide is encouraging the adoption of equipment automation by the
manufacturing industries thereby, positively influencing the market growth.
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Research
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