Authored By: Sarah
11 Jul 2024

 Computer Aided Engineering (CAE) Market Size to grow by USD 4699.2 million between 2024-2028

According to a research report “ Computer Aided Engineering (CAE) Market” by Type (FEA, CFD) End-user (Automotive, Aerospace and defense, Electrical and electronics, Others) Geography (Europe, North America, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 4699.2 million, at a CAGR of  9.45% during the forecast period. The electrical and electronics sector represents a significant market for Finite Element Analysis (FEA) software due to the increasing demand for advanced technology in consumer electronics. In 2024, the consumer electronics market generated approximately USD1,046 billion in revenue, with an annual growth rate of 2.99% projected from 2024 to 2028. With the rise of smartphones and tablets, consumers now prefer web applications for multimedia content, browsing, video calling, gaming, and social networking, necessitating the need for CAE solutions to enhance product performance, reliability, and efficiency in this dynamic industry.

Browse market data tables, figures, and in-depth TOC on “Computer Aided Engineering (CAE) Market” by Type (FEA, CFD) End-user (Automotive, Aerospace and defense, Electrical and electronics, Others) Geography (Europe, North America, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Type, the FEA segment is projected to dominate the market size in 2024

In the automotive industry, Computer-Aided Engineering (CAE) software, specifically Computational Fluid Dynamics (CFD) solutions, plays a pivotal role in the design and manufacturing process. This software application is utilized extensively in the development of various motor vehicles, including passenger cars, light commercial vehicles like mini trucks and minibuses, heavy vehicles such as heavy trucks, buses, and coaches, and light passenger cars like electric vehicles. The market for CAE software has experienced significant growth due to the increasing demand for advanced technologies from customers. This software is primarily employed in the design and development of interior and exterior features, such as enhanced night vision systems with pedestrian detection and automatic high beam control. It is important to note that the scope of this report excludes industries offering maintenance services, such as vehicle repair and modification shops and companies.

By End-user, Automotive  segment is expected to hold the largest market size for the year 2024

FEA (Finite Element Analysis) software plays a pivotal role in the product design and development process by enabling the creation of virtual prototypes for simulation and analysis. This technology is extensively utilized in various manufacturing industries to assess structural strength, behavior, and optimize designs, thereby reducing the need for costly physical prototypes. The implementation of FEA software leads to significant cost savings, enhanced product quality, expedited development timelines, and a reduction in warranty and product return expenses. The market growth for FEA software is fueled by substantial investments in R&D and the increasing demand for advanced engineering solutions.

Europe is forecasted to hold the largest market size by region in 2024

The Computer-Aided Engineering (CAE) market is experiencing significant growth due to the increasing demand for efficient design and simulation solutions in various industries. CAE technologies enable businesses to optimize product performance, reduce development costs, and enhance innovation. By utilizing advanced simulation tools and techniques, companies can streamline their engineering processes, improve product quality, and gain a competitive edge in the market. The global CAE market is projected to reach substantial growth in the coming years, driven by technological advancements and the increasing adoption of digital transformation initiatives.

The Computer Aided Engineering (CAE) Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Altair Engineering Inc.
  • ANSYS Inc.
  • Autodesk Inc.
  • Bentley Systems Inc.
  • BETA CAE Systems
  • Cadence Design Systems Inc.
  • Ceetron AS
  • COMSOL AB
  • Dassault Systemes SE
  • ESI Group SA
  • Fidesys LLC
  • Flow Sciences Inc.
  • Hexagon AB
  • Parametric Designs and Solutions
  • PTC Inc.
  • Seiko Epson Corp.
  • Siemens AG
  • Simerics Inc.
  • SimScale GmbH
  • Symscape
.

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Research Analysis Overview

Computer Aided Engineering (CAE) market is witnessing significant growth due to the increasing adoption of advanced technologies like 3D printing, concurrent engineering, and Building Information Modeling (BIM). CAE solutions enable engineers to simulate and validate product designs in various engineering modes, ensuring product quality and durability. Integrated CAE data and process management facilitate better collaboration and communication among teams. CAE solutions offer various engineering modes such as Finite Element Analysis (FEA) and Computational Fluid Dynamics (CFD) software for simulation and validation. Aerospace and electric vehicles industries are major contributors to the CAE market due to the high demand for product durability and performance. CAE solutions provide value-added services through pay-as-you-go subscriptions and licensing fees, making them accessible to small and medium-sized enterprises. Value-added resellers (VARs) play a crucial role in providing integrated software solutions to meet specific industry requirements. CAE software helps in designing and optimizing prototypes, reducing development time and costs. Simulation and validation of designs in the early stages of product development help in identifying potential issues and improving product performance. CAE solutions are essential tools for engineering teams to stay competitive in today's fast-paced business environment.

Market Research Overview

Computer Aided Engineering (CAE) market encompasses various industries including defense and aerospace, industrial equipment, medical devices, and consumer electronics. CAE solutions are essential for multibody dynamics, thermal analysis, and other engineering simulations. CAE software developers and technology companies cater to industry verticals like healthcare, aerospace & defense, and energy. CAE solutions are used for modeling and simulating complex systems, predicting hardware failure, optimizing composite parts, and improving fan performance. CAE software products are integral to building information modeling, automation, and digital technologies. Defense and aerospace industries rely on CAE for high-altitude flight, structural deformation, and noise pollution analysis. In the healthcare sector, CAE is used for medical device design and optimization. In consumer electronics, CAE is used for energy-efficient aircraft design, battery units, and battery life optimization. CAE solutions are available as on-premise or cloud-based, with pay-as-you-go subscriptions and licensing fees. CAE software developers offer open-source platforms and complex solutions for engineering sectors. CAE technology companies provide simulation-based design, concurrent engineering, and integrated CAE data for process management and product quality enhancement. CAE solutions are essential for decision-making capabilities in electronics companies, with applications in Finite Element Analysis, CFD software, and value-added resellers. CAE technology is also used in the energy sector for optimization algorithms, Internet connectivity, and cloud-based solutions for time-to-market acceleration and product quality enhancement. CAE solutions are crucial for industries dealing with carbon footprint, carbon emissions, fuel consumption, and other environmental concerns. They are used in the design of low-emission planes, solar panels, and energy-efficient aircraft. CAE technology is also used in the automotive industry for predictive modeling, artificial intelligence, and machine learning for optimization and problem-solving capabilities. Small-to-medium enterprises and startups benefit from CAE solutions for design iterations and engineering modes. CAE solutions are also used in the semiconductor industry for process management, product quality, and product durability. With the increasing use of 3D printing and simulation-based design, CAE solutions are becoming indispensable for engineering modes and integrated CAE data. CAE solutions are essential for engineering sectors as they provide optimization capabilities, automation, and digital technologies to improve product quality, reduce costs, and enhance decision-making capabilities. With the increasing use of cloud-based CAE, Internet of Things, and CAE software-as-a-service, CAE solutions are becoming more accessible and affordable for businesses of all sizes.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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