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We expect the global computer-aided engineering market to exhibit a CAGR of 10.6% during 2022-2027.
Sudden outbreak of the COVID-19 pandemic had catalyzed the adoption of AI-based, automated devices to mitigate the risk of coronavirus transmission upon human interaction, thereby propelling the growth of computer-aided engineering market.
The changing consumer inclination from on-premises computing solutions towards cloud-based advanced variants represents one of the key factors driving the global computer-aided engineering market.
Based on the type, the market has been divided into finite element analysis (FEA), computational fluid dynamics (CFD), multibody dynamics, and optimization & simulation. Amongst these, finite element analysis (FEA) currently holds the largest market share.
Based on the development type, the market has been bifurcated into on-premises and cloud-based. Currently, on-premises hold the majority of total market share.
Based on the end-use industry, the market has been classified into automotive, defense & aerospace, electronics, medical devices, industrial equipment, and others. Currently, the automotive industry represents the largest segment.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America currently dominates the global market.
Some of the major players in the global computer-aided engineering market include Altair Engineering Inc., Ansys Inc., Aspen Technology Inc., Autodesk Inc., BenQ Asia Pacific Corp., Bentley Systems Inc., Casio Computer Co. Ltd., Dassault Systemes, ESI Group, Exa Corporation, Mentor Graphics Corporation, MSC Software Corporation, NUMECA International, Seiko Epson Corporation, Siemens Digital Industries Software, etc.
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