Europe Engineering Software Market

Europe Engineering Software Market

Europe engineering software market is expected to reach USD 29.42 billion by 2031 from USD 15.26 billion in 2023, growing at a CAGR of 8.7% during the forecast period of 2024 to 2031.

Market Segmentation
Europe Engineering Software Market, By Software Type (Electronic Design Automation (EDA), Computer-Aided Designing (CAD), Architecture, Engineering & Construction (AEC), Computer-Aided Engineering (CAE), and Computer-Aided Manufacturing (CAM)), Application (Product Design, 3D Modelling, Automation Design, Plant Design, and Others), Enterprise Size (Large Enterprise, Medium Enterprise, and Small Enterprise), End Users (Automotive, Aerospace & Defense, Oil & Gas, IT & Telecommunication, Healthcare, and Others), Country (Germany, France, U.K., Italy, Spain, Russia, Switzerland, Netherlands, Belgium, Turkey, and rest of Europe) - Industry Trends and Forecast to 2031

Overview of Europe Engineering Software Market Dynamics
Drivers
• Rising adoption of cloud based engineering software due to flexibility and collaborative nature of work
• Rising demand for HPC deployment for simulation workload
• Rising investments in infrastructure projects
• Rising complex engineering structures/components leading demand for 3D modeling and simulation
Restraints
• Complexity of software and limited standardization limits the interoperability of projects and software
• Cyber attacks are a major risk to the functionality and security of global digital systems
Opportunities
• Continuous technological advancement in engineering software
• Increasing partnership and acquisition among market players
• Development of industry specific software solutions
Challenges
• Shift of companies from licensing model to subscription based create challenge in adoption from end-users
• Shortage of technically sound working professionals

Market Players
The key market players operating in the Europe engineering software market are listed below:
• Autodesk Inc.
• Synopsys, Inc.
• Dassault Systèmes
• ANSYS, Inc
• Cadence Design Systems, Inc.
• The MathWorks, Inc.
• PTC
• Siemens
• Bentley Systems
• Incorporated
• Hexagon AB
• Altair Engineering Inc.
• Altium Limited
• HCL Technologies Limited
• AVEVA Group
• BY COMSOL
• BETA CAE Systems
• CNC Software, LLC
• Carlson Software
• ESI Group
• ZWSOFT CO., LTD.
• SimScale
• Computers and Structures, Inc.


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