Computer-aided engineering or CAE is the use of computer software to imitate performance in order to get better product designs or aid in the resolution of engineering problems for an extensive range of industries. It is used to analyze, design, and manufacture products & processes. This software offer various advantages such as understand the performance implication, managing risk of engineering teams, performance insights earlier in the development process, ensures that the product come out with higher quality, reduce the cost of production and better durability and many more.
According to study, “Global CAE Software Market Size study, by Type (Finite Element Analysis (FEA), Computation Fluid Dynamic (CFD), Multi Body Dynamic, Optimization & Simulation), by Application (Machine Tool Industry, Automobile & Train Industry, Shipbuilding Industry, Aerospace & Defence Industry, Oil & Gas, Others) and Regional Forecasts 2018-2025” some of the major companies that are currently working in the global CAE software market are Siemens PLM Software, Bentley Systems Inc., Zumtobel, Dassault Systems, ANSYS Inc., MSC Software Corp., BEMO, Panasonic Solar, Hexagon AB, Graphisoft, Applied Math Modeling, PTC, Alatir Engineering, MILLS, Mentor Graphics Corporation, ZW Software Co. Ltd., COMSOL Multiphysics, ESI Group, BETA CAE Systems, EXA Corp., Supcompute, Ceetron, Autodesk Inc., NUMECA, Core Tech Systems, Magma, Yuanjisuan, Toray Engineering.
Based on the type, the global CAE market is segmented into Computation Fluid Dynamic (CFD), Finite Element Analysis (FEA), optimization & simulation and multi body dynamic. CFD analyzes turbulence, pressure distribution, flow and interaction of liquids & gases with dissimilar structures. FEA software helps to calculate the functionality of a particular product design even before its sample is produced. Based on the product type, the market is breakdown into mono functional and multi functional. Based on the application, the market is defined as automobile & train industry, machine tool industry, oil & gas, aerospace & defense industry, ship building industry and others.
The global CAE software is primarily driven by rising technological advancements (driverless cars & semi-autonomous cars), followed by the rapid growth in wearable industry, increase in mandate of applications (collision avoidance, wireless communication technology, parking assistance systems, and interactive infotainment systems), emerging new engineering modes (building information modeling, 3D printing, concurrent engineering) and government regulations. However, the major restraining factor is the presence of open source software, which impacting market growth.
The North American region holds the major share of global CAE market on an account of rise in the number of smart-phone industry. European region is contributing a reasonable share in the growth of the market. Additionally, the Asia-Pacific region is also estimated to grow substantially owing to different manufacturing sectors. In addition the Middle East & Africa region to broader recognition of product lifecycle management tactics through companies has powered up the necessity of global CAE Software market and it is expected that the global CAE market to reach at US $12.8 billion, by 2025. In the upcoming years, it is predicted that the market to develop due to growing penetration of IoT, smart-phones & tablets.
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Ankur Gupta, Head Marketing & Communications