Authored By: Sarah
11 Jul 2024

 Fea In Industrial Machinery Market Size to grow by USD 733 million between 2024-2028

According to a research report “ Fea In Industrial Machinery Market” by Deployment (Cloud-based, On-premises) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 733 million, at a CAGR of  12.77% during the forecast period. Analysis software plays a pivotal role in the industrial machinery sector by providing accurate predictions, validations, and optimizations for product design. This software enables the utilization of virtual prototyping, allowing for enhanced device performance and early identification and resolution of potential compliance issues. By reducing the need for physical prototypes and minimizing the risk of test failures and recalls, vendors in the global FEA market for industrial machinery can significantly innovate their FEA software. For instance, Bentley Systems' recent acquisition of ADINA R and D Inc., announced in April 2022, underscores this trend towards advanced analysis software solutions.

Browse market data tables, figures, and in-depth TOC on “Fea In Industrial Machinery Market” by Deployment (Cloud-based, On-premises) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Deployment, the Cloud-based segment is projected to dominate the market size in 2024

ai_market_segmentation_by

By Geography, North America  segment is expected to hold the largest market size for the year 2024

The cloud segment dominates the global Finite Element Analysis (FEA) market in industrial machinery, accounting for a significant market share in 2023. This trend is driven by the technological shift in the industrial machinery sector, fueled by advancements in cloud technology. Cloud-based FEA software is poised for robust growth during the forecast period, primarily due to the increasing demand from Small and Medium Enterprises (SMEs) for cost-effective and scalable cloud solutions. The benefits of cloud solutions, including ease of use, cost-effectiveness, agility, and innovation, have been instrumental in driving the segment's expansion. Adopting a cloud model enables enterprises to pay only for the utilized resources, making it a financially viable option.

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

In the industrial machinery market, Fea stands out as a key player, providing innovative solutions to enhance manufacturing efficiency and productivity. Our offerings encompass a broad range of machinery, from CNC machines and robotic systems to conveyor belts and material handling equipment. By leveraging advanced technology and industry expertise, we deliver high-performing machinery that drives business growth.

The Fea In Industrial Machinery 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:

  • Allegro Development Corp.
  • Altair Engineering Inc.
  • ANSYS Inc.
  • Aspen Technology Inc.
  • Autodesk Inc.
  • Bentley Systems Inc.
  • COMSOL AB
  • Dassault Systemes SE
  • EGS Computers India Pvt. Ltd.
  • ESI Group SA
  • Fidelis Engineering Associates
  • Hexagon Manufacturing Intelligence
  • HitechDigital Solutions LLP
  • NUMECA International
  • PTC Inc.
  • Quest Integrity Group LLC
  • Siemens AG
  • SimEvolution AS
  • SimScale GmbH
  • SoftInWay Inc.
.

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Research Analysis Overview

The industrial machinery market encompasses a wide range of complex engineering problems that require the expertise of engineers and designers to develop mechanical components and structures. These professionals utilize various fabrication materials, including carbon-fiber-reinforced polymers and composites, to create innovative solutions for industries such as automobiles and the smartphone industry. In the realm of mechanical engineering design, Solid mechanics plays a crucial role in understanding the behavior of mechanical structures under various loads, temperatures, and vibrations. Modal analysis and CAD tools are essential for designing and simulating the response of structures to real-world forces, such as stress, fluid flow, and heat. Advanced materials like Nitinol, a shape-memory alloy, are increasingly being used to create intricate mechanical components due to their unique properties. Electrical & electronics are also integrated into machinery design, requiring a multidisciplinary approach that combines the knowledge of mechanical, electrical, and software engineering. Technicians play a vital role in the industrial machinery market, as they are responsible for assembling and testing physical prototypes to ensure they meet the required specifications. The challenges of designing and manufacturing machinery under the constraints of real-world forces, such as vibration and stress, require a deep understanding of structural analysis and the ability to work collaboratively to find effective solutions.

Market Research Overview

The industrial machinery market is witnessing significant growth in various sectors, including electric vehicle manufacturing, automobile companies, and the biomechanical and aeronautical industries. With the increasing focus on decarbonization strategies, there is a growing demand for advanced engineering solutions. Cloud technology is playing a crucial role in this regard, with both On-Premise and Cloud-Based cloud-based software solutions being used extensively. In the automotive sector, simulation software and simulation-based software are being used to design mechanical components, structures, and entire vehicles, including electric vehicles. These solutions help engineers and designers optimize designs, test prototypes, and conduct experiments in a virtual environment. Advanced materials like carbon-fiber-reinforced polymers, composites, Nitinol, and shape-memory alloys are being used extensively in automobiles, electrical & electronics, and the Smartphone industry. The aerospace and defense industry is also leveraging cloud-based FEA software for designing complex engineering problems related to airframes, landing gear, high-lift wing design, and fuel tank design. These solutions help engineers analyze material nonlinearity, geometrical nonlinearity, and nonlinear problems using finite elements, mathematical equations, and physical effects. Moreover, cloud-based software solutions are being used in various industries, including the aerospace and defense industry, for problem-solving options related to wave propagation, thermal analysis, solid mechanics, modal analysis, and kinematics analysis systems. These solutions help engineers and technicians analyze real-world forces, fluid flow, heat, vibration, and stress in a virtual environment, reducing the need for physical prototypes and experiments. In conclusion, the industrial machinery market is witnessing significant growth, with cloud-based software solutions playing a crucial role in addressing complex engineering problems in various industries, including electric vehicle manufacturing, automobile companies, and the biomechanical and aerospace industries. These solutions help optimize designs, reduce costs, and improve problem-solving capabilities, making them essential tools for engineers and designers.

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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