Global Engineering Software Market (2023 Edition): Analysis By Deployment Type (On-Premise, Cloud), Enterprise Size (Large, Small, Medium), End User Industry: Market Insights and Forecast (2018-2028)

Global Engineering Software Market (2023 Edition): Analysis By Deployment Type (On-Premise, Cloud), Enterprise Size (Large, Small, Medium), End User Industry: Market Insights and Forecast (2018-2028)

Executive Summary

Azoth Analytics has released a research report titled “Global Engineering Software Market (2023 Edition)” which provides a complete analysis of the Engineering Software Market industry in terms of market segmentation By Deployment Type (On-Premise), By Enterprise Size (Large Enterprise, Small and Medium Enterprise), and End User Industry (Automotive and Transportation Industry, Aerospace and Defense Industry, Healthcare Industry, Other Industries).

The research study also looks at the market growth indicators, restraints, supply and demand risk, and other important statistics, as well as a full assessment of current and future market trends that are relevant to the market evolution.

During the forecast period, 2023-2028, Global Engineering Software is expected to expand at a CAGR of 8.75%. The major factors driving the growth of the Global Engineering Software market are the growing demand for smart and efficient production and manufacturing technique, which is due to the rising global population and the need for improved cost-effective solutions which is operationally efficient and focused on sustainable technique throughout the world.

The Global Engineering Software Market is expected to generate USD 84.52 billion by the end of 2028, up from USD 45.28 billion in 2021 backed by the rising use of Coordinated robotic manufacturing which is increasing the demand for advanced CAM/CAD engineering software. Also, the major use of additive manufacturing techniques like 3D Printing, Powder Bed Fusion and Material extrusion over conventional manufacturing processes require more advanced techniques for the complex geometry involved in the process. One of the main drivers for the growth of the engineering software market is the company’s objective to improve efficiency and reduce costs, which is turning to engineering software to help optimize design and engineering processes, reduce errors, and speed up time-to-market.

The research study is global in nature and covers a detailed analysis of the market in America (U.S., Canada, Brazil, Rest of the Americas), Europe (Germany, U.K, France, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea and Rest of Asia-Pacific), and the Middle East and Africa. Additionally, the research report presents data including market size, yearly growth & potential analysis, the competitive study of market players, investment opportunities and demand forecast.

The global construction industry is a major user of engineering software solutions. As the construction industry continues to grow, the demand for engineering software solutions that can help streamline the design and construction process is expected to increase. The aggregate size of the construction market was valued at USD 7.28 trillion in 2021 and is predicted to reach USD 14.41 trillion by 2030. In the coming years, the industry will be driven by some main growth drivers including population growth in emerging countries, ageing populations in developed countries, greater urbanization and concentration in megacities, decarbonization across economies, and digital transformation.

Software like Civil 3D from Autodesk and MicroStation from Bentley Systems are two most prominent software that is being used in the construction industry to visualize, and simulate the mind of the engineers before it gets implemented on the ground level, which helps to enhance project planning and design, improves project scheduling and sequencing and also enhances construction safety and facilitates better to reduce projects cost. Additionally, simulation analysis can help identify potential design issues that could lead to costly changes or delays during the construction process.

This study also provides a competitive landscape of the industry and profiles some of the leading players in the Global Engineering Software industry including Dassault Systemes, AutoDesk Inc., Cadence Design Systems, ANSYS Inc., Synopsys Inc., Bentley Systems Inc., Aspen Technology Inc., Siemens AG and others. The company profiling includes critical information such as a business overview, products and services, key financials, and recent events and developments. Overall, the report provides a detailed overview of Global Engineering Software, which will assist industry consultants, existing players looking for expansion opportunities, new players looking for opportunities, and other stakeholders in aligning their market-centric strategies with current and expected future trends.

Scope of the Report:

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• The report analyses the Engineering Software Market by Value (USD Billion).
• The report presents the analysis of Engineering Software Market for the historical period of 2018-2021, the estimated year 2022 and the forecast period of 2023-2028.
• The report analyses the Engineering Software Market by Deployment Type (On-Premise).
• The report analyses the Engineering Software Market by End User Industry (Automotive and Transportation Industry, Aerospace and Defense Industry, Healthcare Industry, Other Industries).
• The report analyses the Engineering Software Market by Enterprise Size (Large Enterprise, Small and Medium Enterprise).
• The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by pet type, by service type, and by mode of operation.
• Also, the major opportunities, trends, drivers and challenges of the industry have been analysed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Dassault Systemes, AutoDesk Inc., Cadence Design Systems, ANSYS Inc., Synopsys Inc., Bentley Systems Inc., Aspen Technologies, Siemens AG, PTC Inc.and Hexagon AB.