Latest News- Computational Fluid Dynamics (CFD) Market in APAC: Automotive industry is expected to lead the End-user segment during 2024-2028

The Computational Fluid Dynamics (CFD) Market in APAC is being driven by Growth in smartphone industry

The Computational Fluid Dynamics (CFD) Market in APAC is expected to grow at a CAGR of 10.87% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 393.6 million. In the automotive sector of Asia Pacific (APAC), the rising trend towards electric vehicles is driven by increasing concerns over carbon dioxide emissions and their negative impact on the global climate. Stricter emission standards, modeled after European and US regulations, are being implemented by governments in countries such as South Korea. These regulations vary by vehicle type, with light-duty gasoline vehicles adhering to US standards and heavy-duty vehicles, like trucks and buses, following European regulations. In response, automotive manufacturers in APAC have significantly increased research and development (R&D) spending to produce more fuel-efficient vehicles, ensuring compliance with these stringent emission norms. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Automotive industry
  • Aerospace and defense industry
  • Electrical and electronics industry
  • Others
• Deployment
  • Cloud
  • On-premises
• Geography
  • APAC
    • China
    • Japan
    • South Korea
    • Taiwan

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growth in smartphone industry
• Increasing M and A activities
• Reduction in product design time and cost

However, the market also witnesses some limitations, which are as follows:

• Lack of awareness among end-users in APAC
• High cost of CFD software
• Threat of open-source CFD software

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Market Scope in Computational Fluid Dynamics (CFD) Market in APAC Research Report

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Research Analysis Overview

Computational Fluid Dynamics (CFD) is a powerful tool used to simulate and analyze fluid flow, heat transfer, and mass transport in various industries. CFD market is witnessing significant growth due to the increasing demand for cost-effective designs, sustainability, and efficiency in sectors like aerospace, automotive, healthcare, and chemical processing. Traditional methods of experimentation and physical testing are being replaced by CFD simulation, offering faster results and reduced costs. Advanced technologies like artificial intelligence and biotechnology are being integrated into CFD software packages to enhance accuracy and innovation. Sustainable practices are driving the CFD market, with high-performance computing and cloud-based solutions enabling real-time simulation and analysis. The aerospace and defense industry continues to be a major contributor to the market, with applications in aeronautics and propulsion systems. Emerging areas like electric vehicles, sustainable energy, and electrical and electronics are also fueling the growth of the CFD market. Material science and energy industries are leveraging CFD to optimize processes and improve product performance. The healthcare sector is using CFD for medical device design and drug delivery systems. Overall, the CFD market is poised for continued growth, driven by innovation and the need for more efficient and sustainable designs. The early days of CFD involved the use of punched cards and punched paper for input, but today's software packages offer user-friendly interfaces and advanced features. From the aeronautics industry to electric vehicles, CFD is revolutionizing design and engineering across various industries.

Market Research Overview

In the expansive realm of the global IT software industry, the Computational Fluid Dynamics (CFD) market represents a significant segment. This sector caters to businesses specializing in the development and production of CFD application and systems software. The market's size is determined by the consolidated revenue generated by these organizations, encompassing both on-premises and cloud-based solutions. The CFD software market falls under the broader category of IT management software within the systems software market. This market segment includes providers of application development and management software, cloud computing software, data centers, hosting software, IT management software, mobility software, networking software, security software, and storage software. It is essential to note that home entertainment software development and production companies are excluded from this market scope.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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