Global FEA Market in Electrical and Electronics Industry 2015-2019
FEA, a software used in engineering, aims to evaluate the functionality of a product design before its prototypes are produced. FEA software is used in manufacturing industries for the estimation of structural strength and behaviour, modeling, simulation, and design optimization. This software helps end-users to produce quality products, reduce cost, provide better product design, and fasten the product development time. It is used in the automotive, aerospace and defense, electrical and electronics, and industrial machinery industries.
Technavios analysts forecast the global FEA market in the electrical and electronics industry to grow at a CAGR of 13.55% over the period 2014-2019.
Covered in this report
Technavio's report, Global FEA Market in Electrical and Electronics Industry 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, APAC and EMEA; it also covers the market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Americas APAC EMEA Key vendors
Siemens PLM Software
Other prominent vendors
Altair Aspen Technology Autodesk CD-adapco COMSOL ESI Group NEI Software Market driver
Involvement of inspection agencies in product development For a full, detailed list, view our report Market challenge
High cost of FEA For a full, detailed list, view our report Market trend
Use of FEA to develop IoT supporting devices For a full, detailed list, view our report Key questions answered in this report
What will the market size be in 2019 and what will the growth rate be What are the key market trends What is driving this market What are the challenges to market growth Who are the key vendors in this market space What are the market opportunities and threats faced by the key vendors What are the strengths and weaknesses of the key vendors
Technavio Announces the Publication of its Research Report Global FEA in the Electrical an Electronics Sector 2015-2019 Technavio recognizes the following companies as the key players in the Global FEA in the Electrical an Electronics Sector: ANSYS, Dassault Systmes, MSC Software and Siemens PLM Software Other Prominent Vendors in the market are: Altair, Aspen Technology, Autodesk, CD-adapco, COMSOL, ESI Group and NEI Software Commenting on the report, an analyst from Technavios team said: Cloud computing provides vast space for data storage, ease of access, flexibility, and security. It is cost-effective and companies increasingly prefer to use cloud-based FEA software. The deployment of FEA software in cloud computing leads to low costs, faster distribution, low maintenance, and an increase in scalability. FEA providers are continuously focusing on providing the software through the cloud. According to the report, an increase in R&D investments by electrical and electronics companies to produce new and innovative products contributed to the growth of the global FEA market in the electrical and electronics sector. Companies buy the latest hardware, software, and technology to develop new products. Further, the report states that the high cost of FEA software is one of the major growth challenges faced by the global FEA market in the electrical and electronics industry.
ANSYS, Dassault Systmes, MSC Software, Siemens PLM Software, Altair, Aspen Technology, Autodesk, CD-adapco, COMSOL, ESI Group, NEI Software