Computer Aided Engineering Market Is Forecasted To Reach a Value of US$ 22.7 Billion By 2033

The worldwide computer-aided engineering market is expected to grow at a high-value 8.6% CAGR over the next ten years, reaching US$ 9.9 billion in 2023. The global market for computer-aided engineering is expected to reach $22.7 billion by the end of 2033.

Engineering and design have undergone huge changes since computers became commonplace gadgets across the world. Digitization has increased the usage of computer-aided design (CAD) and engineering tools and solutions to boost productivity and project results.

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Competitive Analysis:

Leading computer-aided engineering companies are introducing new product suites to give designers and developers with the most up-to-date analytical tools and capabilities.Amazon Web Services, Amazon’s subsidiary for cloud computing solutions, presented its new suite for finite element analysis for cloud use in February 2023. PArallel, Large-scale Computational Electromagnetics, is a parallel finite element programme for full-wave electromagnetics simulations.Ansys, a prominent provider of simulation and analysis software, announced the debut of Ansys Gateway in October 2022, which is a cloud-based platform powered by AWS solutions that allows customers to simply access and deploy Ansys simulations.

Key Players:

• ANSYS Inc.
• Exa Corporation
• 3D Systems Corp.
• ESI Group
• Siemens AG
• Dassault Systems
• Autodesk Inc.
• Altair Engineering
• Aveva Group
• Hexagon AB
• Bentley Systems Inc.

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Regional Analysis:

 “Supportive Government Initiatives to Promote Manufacturing Activity”

 For a long time, Asian governments have launched fresh measures to stimulate industrialisation and manufacturing activity in order to boost economic growth, creating a highly favorable setting for computer aided engineering suppliers in the APAC area. China and India are favoured locations for many product producers across the world due to their low manufacturing and labor costs.

The growing popularity of automation in sectors, as well as the expanding penetration of technology in Asian nations, are expected to encourage the usage of computer aided engineering solutions and services in the future.

Europe has a thriving car manufacturing industry, which is expected to predominantly supplement demand for computer-aided engineering during the next 10 years. Increased use of computational fluid dynamics and finite element analysis in vehicle design, as well as increased investments in the development of innovative battery technologies, are expected to boost market development in European nations in the future years.

Key Segments of Industry:

• By Type :
  • Finite Element Analysis (FEA)
  • Computational Fluid Dynamics (CFD)
  • Multibody Dynamics
  • Optimization & Simulation
• By Deployment :
  • On-premise
  • Cloud-based
• By End Use :
  • Automotive
  • Defense & Aerospace
  • Electronics
  • Medical Devices
  • Industrial Equipment
  • Others

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