Global Engineering Software Market

Global Engineering Software Market

Global engineering software market is expected to reach USD 86.45 billion by 2031 from USD 45.63 billion in 2023, growing at a CAGR of 8.5% during the forecast period of 2024 to 2031.

Market Segmentation
Global Engineering Software Market, By Software Type (Electronic Design Automation (EDA), Computer-Aided Designing (CAD), Architecture, Engineering & Construction (AEC), Computer-Aided Engineering (CAE), and Computer-Aided Manufacturing (CAM)), Application (Product Design, 3D Modelling, Automation Design, Plant Design, and Others), Enterprise Size (Large Enterprise, Medium Enterprise, and Small Enterprise), End Users (Automotive, Aerospace & Defense, Oil & Gas, IT & Telecommunication, Healthcare, and Others), Country (U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Malaysia, Australia, Singapore, Thailand, Philippines, Indonesia, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and rest of South America) - Industry Trends and Forecast to 2031

Overview of Global Engineering Software Market Dynamics
Drivers
• Rising adoption of cloud based engineering software due to flexibility and collaborative nature of work
• Rising demand for HPC deployment for simulation workload
• Rising investments in infrastructure projects
• Rising complex engineering structures/components leading demand for 3D modeling and simulation
Restraints
• Complexity of software and limited standardization limits the interoperability of projects and software
• Cyber attacks are a major risk to the functionality and security of global digital systems
Opportunities
• Continuous technological advancement in engineering software
• Increasing partnership and acquisition among market players
• Development of industry specific software solutions
Challenges
• Shift of companies from licensing model to subscription based create challenge in adoption from end-users
• Shortage of technically sound working professionals

Market Players
The key market players operating in the global engineering software market are listed below:
• Autodesk Inc.
• Synopsys, Inc.
• Dassault Systèmes
• ANSYS, Inc
• Cadence Design Systems, Inc.
• The MathWorks, Inc.
• PTC
• Siemens
• Bentley Systems
• Incorporated
• Hexagon AB
• Altair Engineering Inc.
• Altium Limited
• HCL Technologies Limited
• AVEVA Group
• BY COMSOL
• BETA CAE Systems
• CNC Software, LLC
• Carlson Software
• ESI Group
• ZWSOFT CO., LTD.
• SimScale
• Computers and Structures, Inc.




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