Computer Aided Engineering Market Competitive Landscape And Trend Analysis, Global Analysis And Forecast

Computer Aided Engineering Market

WILMINGTON, DE, UNITED STATES, July 8, 2024 /EINPresswire.com/ -- According to the report, the global computer aided engineering industry generated $8 billion in 2021, and is projected to reach $19.2 billion by 2031, growing at a CAGR of 9.4% from 2022 to 2

Drastic shift from on premise computing to cloud-based computing among people due to reduced cost expenses related to hardware acquisition and software licensing, installation, and support, increase in the adoption of smartphones and tablets among people, surge in internet penetration, and prevalence of innovative technologies such as IoT are expected to drive the growth of the global computer aided engineering market.

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Computer aided engineering software optimizes engineering tasks. These tools are generally used to analyze the performance and robustness of assemblies and components. Computer aided engineering is used in many areas, such as aviation, space, automation, and shipbuilding. Furthermore, the key factors that drive the computer aided engineering (CAE) market trends include penetration of IoT, increased shift from on-premise computing to cloud-based computing, and increase in investment on R&D activities primarily drive the growth of the global computer aided engineering market. However, high costs of investments in obtaining commercial licenses may hamper the market growth to some extent. On the other hand, increase in adoption of cloud-based solutions is expected to provide lucrative opportunities for the market growth during the forecast period.

The defense segment is expected to experience fastest growth in the coming years, owing adopt advanced and rapid manufacturing technologies that encourage innovation level and accelerate supply chain.

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Based on region, the market across North America held the largest market share in 2021, holding nearly two-fifths of the global computer aided engineering market. This is due to rapid penetration of IoT and increasing expenses for defense in the region. The LAMEA region, on the other hand, is expected to cite the fastest CAGR of 11.5% during the forecast period. Rise in expansion trend among key market players to increase their market presence in LAMEA primarily drives the growth of the market in this region. Middle East and South Africa have witnessed increase in adoption of digitalized engineering and industrialization, which has increased demand for computer-aided engineering market growth in this region.

Prominent Players of the Market:

ANSYS, Inc.
Altair Engineering
Autodesk, Inc.
Dassault Systemes
Bentley Systems, Inc.
ESI Group
Siemens AG
Mentor Graphics Corporation
Seiko Epson Corporation
MSC Software Corporation

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