Computer Aided Engineering Market To Rise As Of Rapid Growth Of The Wearable Industry

Computer Aided Engineering Industry Overview

 

The global computer aided engineering market size was valued at USD 10,175.4 million in 2023 and is expected to grow at a CAGR of 12.8% from 2024 to 2030, owing to the increased outsourcing of manufacturing processes to emerging economies such as China, India, and Russia, among others.

 

The computer aided engineering (CAE) market is poised for unprecedented growth during the forecast period, as integrated software solutions eliminate the need for multiple prototypes and product recall concerns. As a result, the cost associated with prototyping and product recall strategy is highly reduced. Moreover, the increasing use of CFD software for analyzing temperature in battery modules and extending battery life & performance is anticipated to drive the market growth.

 

Gather more insights about the market drivers, restrains and growth of the Computer Aided Engineering Market

The market all over the globe is witnessing a drastic shift from on-premise computing to cloud-based computing. Cloud computing reduces costs related to hardware acquisition and software licensing, installation, and support. This is further expected to increase the use of the CAE software. Additionally, companies are adopting the Hyper-Converged Infrastructure (HCI) platform for building a private cloud that enables advanced computation and storage services.

 

Customers are increasingly quantifying their software contributions. As a result, companies are willing to pay high license fees for the software that supports low-value processes. They are developing alternating pricing and delivering models, alike Software as a Service (SaaS) pricing models, enabling customers to opt for a pay-as-you-go subscription plan. However, the new pricing model is expected to affect the software providers’ cash flow, revenue recognition, and finance.

 

The market for value added resellers (VAR) is expected to have significant growth over the projected period. VARs will help in reducing the gap between the end-users and suppliers. VARs receive certifications and training from suppliers to increase their credibility. As a result, the growth of VARs is expected to have a positive effect on the growth of the computer aided engineering market over the forecast period.

 

Browse through Grand View Research’s Category Next Generation Technologies Industry Research Reports.

 

• The global exascale computing market size was valued at USD 3.69 billion in 2023 and is projected to grow at a CAGR of 27.8% from 2024 to 2030. The market is being significantly influenced by rapid technological advancements in hardware and software.

 

• The global observability tools and platforms market size was estimated at USD 2.71 billion in 2023 and is expected to grow at a CAGR of 10.7% from 2024 to 2030. Businesses are undergoing rapid digital transformation, leading to a surge in data generation.

 

Computer Aided Engineering Market Segmentation

 

Grand View Research has segmented the global computer aided engineering market based on component, deployment models, end-uses, and region

 

Computer Aided Engineering (CAE) Component Outlook (Revenue, USD Million; 2017 – 2030)

 

• Software
o Finite Element Analysis (FEA)
o Computational Fluid Dynamics (CFD)
o Multibody dynamics
o Optimization & simulation
• Services
o Development Service
o Training, Support & Maintenance

 

Computer Aided Engineering (CAE) Deployment Model Outlook (Revenue, USD Million; 2017 – 2030)

 

• On-premise
• Cloud-based

 

Computer Aided Engineering (CAE) End-use Outlook (Revenue, USD Million; 2017 – 2030)

 

• Automotive
• Defense & aerospace
• Electronics
• Medical devices
• Industrial equipment
• Others

 

Computer Aided Engineering (CAE) Regional Outlook (Revenue, USD Million; 2017 – 2030)

 

• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Russia
• Asia Pacific
o China
o India
o Japan
o Singapore
o South Korea
• South America
o Brazil
• Middle East and Africa (MEA)
o KSA
o UAE
o South Africa

 

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Key Companies profiled:

 

• ANSYS, Inc.
• Altair Engineering
• Autodesk, Inc.
• Bentley Systems, Inc.
• Dassault Systemes
• ESI Group
• Exa Corporation
• Mentor Graphics Corporation (A subsidiary of Siemens AG)
• Hexagon AB
• Siemens

 

Key Computer Aided Engineering Company Insights

 

Some of the key players operating in the market include Siemens Group, and Rockwell Automation among others.

 

• Siemens Group is a multinational conglomerate comprising Siemens AG as the parent company and its subsidiaries. The company has several production facilities, sales offices, distribution centers, and R&D centers located across the globe. Siemens Group operates through various divisions, including gas & power, energy management, wind power & renewable, mobility, digital factory, process industries, building technology, power generation services, healthcare, and financial services.

 

• Rockwell Automation specializes in delivering a comprehensive range of industrial automation power, control, and information systems. The company’s extensive offerings include connected components, asset and consultancy management, midrange architecture systems, front-end engineering and design, engineered packages and panels integration, manufacturing intelligence, integration services, and on-machines solutions.

Recent Developments

• In February 2023, Ansys Inc. and Microsoft extended their longstanding strategic partnership to expedite virtual product design. This collaboration entails expanding cloud-based accessibility to Ansys Inc.’ simulation solutions and computer-aided engineering (CAE) tools, aiming to enhance the design process.

 

• In March 2023, Altair Engineering Inc.announced the expansion of its Finnish channel partner, CaeTek, into Norway. CaeTek, which already provides Altair technology in Finland, Denmark, Iceland, and the Baltic region, has now extended its services to Norway as well. The Norwegian division of CaeTek receives support from cDynamics, a Norwegian consultancy with extensive expertise in Altair’s software portfolio, particularly in structural and hydrodynamics simulation for the marine and telecommunication sectors.