While the near-term outlook remains contested due to the pandemic, the aerospace industry is poised to experience healthy long-term growth
DUBLIN, June 18, 2021 / PRNewswire / – The “Computer Aided Engineering (CAE) – Global Market Trajectory and Analysis” the report was added to ResearchAndMarkets.com offer.
With the collapse of manufacturing, engineering design departments are experiencing an unprecedented slowdown. Computer Aided Engineering (CAE) Market Briefs $ 513.2 million Income erosion
The global computer aided engineering (CAE) market is expected to drop -8.9% in 2020, then recover and grow to reach US $ 9.6 billion by 2027, behind a post COVID-19 CAGR of 9.1% over the analysis period from 2020 to 2027.
The global manufacturing industry is facing the worst recession in its history with a PMI plummeting to 35.4 index points, the lowest in recent industry. The impact on manufacturers will result in a tightening of capital resources; layoffs / workforce reductions and loss of productivity; supply chain disruptions; financing difficulties; and increasing cybersecurity and fraud risks.
Unlike IT departments where work is done remotely via the internet and cloud platforms, for manufacturing industry, plant activities and production cannot be done remotely and therefore remain the most affected. The slowdown in economic activity means lower demand for industrial and consumer goods and lower manufacturing orders. Total and partial plant closures are expected to continue over the next few months. Manufacturers, especially automakers with complex supply chains, will be hit hard as transportation, trade and the flow of goods remain crippled.
Industrial production remains weak, with the first half of 2020 recording a double-digit drop in volume production. With plant closures and fewer new manufacturing orders, the outsourcing of product design and development projects to OEMs has slowed significantly. Muted activity in industries such as power and energy; heavy & structural; consumer & industrial; the automobile means less innovation and new product development activity. With the funding needed to support innovation drying up, there is an interruption in the development of new products. Widely used for 3D modeling / visualization, rapid prototyping, modeling, tool design and development, and product platform / architectures design, computer aided engineering is collapsing as the market slows down. request for engineering services.
In the post COVID-19 period, growth will be driven by the resumption of manufacturing activity and the refocus on innovation and the development of new products. Computer Aided Engineering (CAE) refers to the use of computer and software solutions to design, analyze and generate processes and products. CAE extensively integrates Computer Aided Design (CAD) as well as Computer Aided Manufacturing (CAM) capabilities to provide assistance in technical analysis processes.
The continued reduction in CAE software prices and license fees will help drive market growth. Businesses will continue to offer new delivery models for their products and services. For example, CAE as a service is already a fast growing approach where customers can choose the pay-as-you-go plan. Cloud computing helps reduce licensing, deployment and maintenance costs. Additionally, organizations are looking for Hyper Converged Infrastructure (HCI) platforms to create a private cloud that enables advanced compute and storage.
CAE companies have and will continue to offer CAD software as an integrated feature of CAE tools. As mobile access has become important for almost all technology, even CAE companies are trying to offer ways to access product analytics data on mobile platforms. Designers can now access data on smartphones. Cloud software deployment allows designers and developers to easily upload product reviews to cloud platforms.
Deploying software in the cloud offers many benefits, including greater mobility and easier software upgrading, among others. Such user-friendly advancements will significantly contribute to the growth of the market. Companies are also leveraging advanced technologies such as machine learning and artificial intelligence to create advanced CAE tools.
The CAE market will also be positively influenced by emerging engineering modes such as building information modeling, concurrent engineering, and 3D printing. CAD / CAE integration is a key trend that will gain momentum in the post COVID-19 period. Since CAD and CAE files are different, it is difficult to produce a model in CAD software that can be used for finite element analysis in CAE software. This is, however, changing with the development of new types of software that allow design and analysis to be tested in an integrated CAD / CAE environment.
Another notable trend will be the increasing use of machine learning to speed up the pace of engineering simulations, primarily by enabling accurate predictions. With computers capable of learning and creating better data using tools like statistical learning, it is possible to speed up the process of optimal product design. For example, in simulations, ML tools can understand the changes that need to be made to keep automobiles safe without any negative impact on design integrity.
Selected competitors (total 105 featured):
- Altaïr Engineering, Inc.
- SimuTech Group
- Dassault Systèmes SE
- Dell Inc.
- ESI Group
- Hexagon AB
- Mentor Graphics, Inc.
- NEC Display Solutions, Ltd.
- Numéca International
- Siemens Industry Software Inc.
- Simerics Inc.
- Synopsys, Inc.
Main topics covered:
1. MARKET OVERVIEW
- Impact of the COVID-19 pandemic and the looming global recession
- The pandemic crisis weakens the economic environment and triggers a negative tide in GDP
- Industrial activity will remain moderate for the time being
- Computer Aided Engineering (CAE): A Prelude
- CAE software
- Global Market Outlook and Outlook
- Finite Element Analysis (FEA) Segment Dominates Global Market
- Cloud deployment model to witness high growth
- Automotive industry emerges as the main end-use segment
- Developed regions lead, developing economies will spearhead future growth
- Brands of the world
- Recent market activity
2. FOCUS ON CERTAIN PLAYERS
3. MARKET TRENDS AND FACTORS
- Trend of outsourcing of manufacturing processes to emerging economies is fueling demand for CAE solutions
- Benefits of CAE Integrated Software Solutions in Reducing Prototyping Costs and Product Recalls
- Finite Element Analysis Market: poised for healthy growth
- The growing use of computational fluid dynamics bodes well for the market
- Growing adoption of 3D printing bodes well for CAE market
- Cloud deployment model continues to gain traction in the CAE market
- Adoption of hyperconverged infrastructure (HCI) platform for private clouds bodes well for the market
- CAE simplifies engineering design
- Expanding the role of CAE in product development
- Automotive industry dominates the CAE market
- Auto industry recovery after COVID -19 to support demand
- While the near-term outlook remains contested due to the pandemic, the aerospace industry is poised to experience healthy long-term growth
- Adoption of advanced technologies in electronics industry presents opportunities for CAE software market
- Virus-induced economic recession impacts current outlook for electronics industry
- Efficiency benefits to drive demand for CAE medical imaging solutions
- AI in CAE to meet the challenges of engineering processes
- Value Added Resellers (VARs) are positively impacting the CAE market across various end-use industries
- Challenges facing the CAE market
- Free Software Availability Slows CAE Market Growth
4. WORLD MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
- Total number of profiled companies: 121
For more information on this report, visit https://www.researchandmarkets.com/r/ovhi1e
Research and markets
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SOURCE Research and Markets