Global CAE Market 2017-2021
CAE is the practice of using a wide range of software applications to assist in engineering tasks. These software applications support a variety of tasks such as simulation, analysis, validation, and manufacture of engineering products. CAE includes two key tools: FEA and CFD. FEA software helps evaluate the functionality of a given product design even before its prototype is produced. CFD analyzes turbulence, flow, pressure distribution, and interaction of liquids and gases with different structures.
Technavio’s analysts forecast the global CAE market to grow at a CAGR of 11.84% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global CAE market for 2017-2021. To calculate the market size, the report considers the revenue generated from the new software licenses of CAE software including FEA and CFD.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global CAE Market 2017-2021
Technavio recognizes the following companies as the key players in the global CAE market: ANSYS, Dassault Systèmes, Hexagon, PTC, and Siemens PLM Software.
Other Prominent Vendors in the market are: Altair, Applied Math Modeling, Ceetron, COMSOL, ESI, Exa, NUMECA, Simerics, and Symscape.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing adoption of CFD for battery designing. The increasing number of electric vehicles is becoming a trend in the automotive industry. The CO₂ emission is increasing each year, and it has a negative effect on the global climate. It has led to the creation of more stringent emission standards by governments.”
According to the report, one driver in the market is growth of the smartphone industry. The electrical and electronics industry is a major end-user of FEA software. The global electrical and electronics industry is witnessing an increase in the production and demand for smartphones and tablets. In the past, end-users used to access the Internet on their desktops. However, consumers now prefer to access the Internet without any time and location constraints. Consumers need web applications for purposes such as viewing multimedia content, browsing, video calling, gaming, and social networking.
Further, the report states that one challenge in the market is high cost of CAE software. The high initial investment required for the development of FEA and CFD software acts as a major challenge to the growth of the overall market. Though large enterprises are increasingly adopting commercial simulation software to reduce their operational costs and improve their product quality, SMEs are reluctant to adopt this software due to the high initial investments and the lack of technological expertise. The average perpetual license of a CFD costs $60,000-$90,000, and FEA costs $27,000-$35,000 per year per seat.
ANSYS, Dassault Systèmes, Hexagon, PTC, Siemens PLM Software, Altair, Applied Math Modeling, Ceetron, COMSOL, ESI, Exa, NUMECA, Simerics, and Symscape.
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