Global CFD Market in the Industrial Machinery Sector 2015-2019
Market outlook for the global CFD market in the industrial machinery sector
The need to reduce product design time and cost drives the global CFD in the industrial machinery market. Technavio's market research analysts project a CAGR of 11% over the next four years.
The market is witnessing a surge in the demand for CFD embedded with CAD. Customers prefer to adopt embedded solutions as it reduces the product development cycle time and simultaneously increases its efficiency. It enables engineers and other stakeholders to participate in product development and improve the collective product design. CFD and CAD-embedded software enable engineers to work on a single geometry, whereby changes made in one application directly get updated in others.
Geographical segmentation the global CFD market in the industrial machinery sector
The major part of the revenue in the Global CFD market in industrial machinery sector was generated from the EMEA region mainly due to the presence of developed countries such as UK, Germany, and France.
Leading vendor analysis for the global CFD in the industrial machinery sector
Other prominent vendors in this market include Altair, Autodesk, COMSOL, CEI, ESI Group, and MSC Software.
Some large product lifecycle management (PLM) and CFD vendors have started providing integrated CFD software to improve the efficiency and effectiveness of product development cycles. Many customers prefer this integrated software as it reduces the product development cycle time and increases its efficiency simultaneously.
Demand for application specific CFD in the industrial machinery market
Every industry has unique, customized process functions that give rise to the demand for special-purpose CFD software. Many core and large vendors are developing CFD software specific to the end-user industries and application requirement. EXA, one of the leading CFD providers, as a part of the growth strategy, is focusing on providing application specific CFD. The applications management team of the company focuses more finding new applications for the customers and providing a solution through new simulation product. The availability of application specific CFD will lead to higher demand for CFD during the forecast period.
Key questions answered in the report
What are the key factors driving the global CFD market in the industrial machinery sector?
What are the key market trends impacting the growth of the global CFD market in the industrial machinery sector?
What are the various opportunities and threats faced by the vendors in the global CFD market in the industrial machinery sector?
Market shares for APAC, Americas, and EMEA?
Key outcome of the five forces analysis on the global CFD market in the industrial machinery sector?
Growth forecast of the global CFD market in the industrial machinery sector?
Technavio also offers customization on reports based on specific client requirement.
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Technavio Announces the Publication of its Research Report – Global CFD in the Industrial Machinery Sector 2015-2019
Technavio recognizes the following companies as the key players in the Global CFD in the Industrial Machinery Sector: ANSYS, CD-adapco, Dassault Systemes, Mentor Graphics and Exa
Other Prominent Vendors in the market are: Altair, Autodesk, COMSOL, CEI, ESI Group, and MSC Software.
Commenting on the report, an analyst from Technavio’s team said: “Manufacturers across industries are finding increase in adoption of cloud-based CFD software. The adoption of such software leads to cost reduction and provides easy accessibility and technical computing. The use of cloud-based CFD software also provides vast space for data storage, flexibility, and security. Manufacturers do not have to pay license costs because they can access the software through the cloud.”
According to the report, the global CFD market finds an increase in outsourced CFD pre-processing jobs to APAC. India and China are the hubs of these outsourced jobs. Pre-processing involves geometry definition and discretization, boundary condition definition, and physical model definition.
Further, the report states that availability of open-source CFD software in the market poses a serious threat to the revenue generation of many vendors.
ANSYS, CD-adapco, Dassault Systemes, Mentor Graphics, Exa, Altair, Autodesk, COMSOL, CEI, ESI Group, and MSC Software.