Computer Aided Engineering Industry Overview
The global computer aided engineering market size was valued at USD 10,175.4 million in 2023 and is expected to grow at a CAGR of 12.8% from 2024 to 2030, owing to the increased outsourcing of manufacturing processes to emerging economies such as China, India, and Russia, among others.
The computer aided engineering (CAE) market is poised for unprecedented growth during the forecast period, as integrated software solutions eliminate the need for multiple prototypes and product recall concerns. As a result, the cost associated with prototyping and product recall strategy is highly reduced. Moreover, the increasing use of CFD software for analyzing temperature in battery modules and extending battery life performance is anticipated to drive the market growth.
Gather more insights about the market drivers, restrains and growth of the Computer Aided Engineering Market
The market all over the globe is witnessing a drastic shift from on-premise computing to cloud-based computing. Cloud computing reduces costs related to hardware acquisition and software licensing, installation, and support. This is further expected to increase the use of the CAE software. Additionally, companies are adopting the Hyper-Converged Infrastructure (HCI) platform for building a private cloud that enables advanced computation and storage services.
Customers are increasingly quantifying their software contributions. As a result, companies are willing to pay high license fees for the software that supports low-value processes. They are developing alternating pricing and delivering models, alike Software as a Service (SaaS) pricing models, enabling customers to opt for a pay-as-you-go subscription plan. However, the new pricing model is expected to affect the software providers’ cash flow, revenue recognition, and finance.
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Computer Aided Engineering Market Segmentation
Grand View Research has segmented the global computer aided engineering market based on component, deployment models, end-uses, and region
Computer Aided Engineering (CAE) Component Outlook (Revenue, USD Million; 2017 - 2030)
- Software
- Finite Element Analysis (FEA)
- Computational Fluid Dynamics (CFD)
- Multibody dynamics
- Optimization simulation
- Services
- Development Service
- Training, Support Maintenance
Computer Aided Engineering (CAE) Deployment Model Outlook (Revenue, USD Million; 2017 - 2030)
- On-premise
- Cloud-based
Computer Aided Engineering (CAE) End-use Outlook (Revenue, USD Million; 2017 - 2030)
- Automotive
- Defense aerospace
- Electronics
- Medical devices
- Industrial equipment
- Others
Computer Aided Engineering (CAE) Regional Outlook (Revenue, USD Million; 2017 - 2030)
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- K.
- France
- Italy
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- Singapore
- South Korea
- South America
- Brazil
- Middle East and Africa (MEA)
- KSA
- UAE
- South Africa
Key Companies profiled:
- ANSYS, Inc.
- Altair Engineering
- Autodesk, Inc.
- Bentley Systems, Inc.
- Dassault Systemes
- ESI Group
- Exa Corporation
- Mentor Graphics Corporation (A subsidiary of Siemens AG)
- Hexagon AB
- Siemens
Key Companies Insights
Some of the key players operating in the market include Siemens Group, and Rockwell Automation among others.
- Siemens Group is a multinational conglomerate comprising Siemens AG as the parent company and its subsidiaries. The company has several production facilities, sales offices, distribution centers, and RD centers located across the globe.
- Rockwell Automation specializes in delivering a comprehensive range of industrial automation power, control, and information systems. The company's extensive offerings include connected components, asset and consultancy management, midrange architecture systems, front-end engineering and design, engineered packages and panels integration, manufacturing intelligence, integration services, and on-machines solutions.
Recent Developments
- In February 2023, Ansys Inc. and Microsoft extended their longstanding strategic partnership to expedite virtual product design. This collaboration entails expanding cloud-based accessibility to Ansys Inc.' simulation solutions and computer-aided engineering (CAE) tools, aiming to enhance the design process.
- In March 2023, Altair Engineering Inc.announced the expansion of its Finnish channel partner, CaeTek, into Norway. CaeTek, which already provides Altair technology in Finland, Denmark, Iceland, and the Baltic region, has now extended its services to Norway as well. The Norwegian division of CaeTek receives support from cDynamics, a Norwegian consultancy with extensive expertise in Altair'ssoftware portfolio, particularly in structural and hydrodynamics simulation for the marine and telecommunication sectors.
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