Computer-aided Engineering Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Computer-aided Engineering Market
The computer-aided engineering market size was valued at USD 8.0 billion in 2023, and the market is now projected to grow from USD 8.91 billion in 2024 to USD 21.60 billion by 2032, exhibiting a CAGR of 11.7% during the forecast period of 2023-2030.
Due to COVID-19, computer-aided engineering market was adversely affected the as there were disruptions in the manufacturing and the construction industry. The lower demand for new projects, supply chain disruptions, and the constraining budgets for CAE solutions impeded the investments in these solutions. Furthermore, remote work scenarios caused problems such as collaboration and data security. Many vendors of CAE solutions ended up deferring software upgrades and the purchase of software licenses, thus affecting their revenue streams.
The computer-aided engineering market continues to experience strong growth driven by technological progress in simulation, growing customer needs for innovative products, and the search for cost and timing efficiency in product development processes. Industries such as auto, aerospace and manufacturing sectors integrate CAE into their processes to improve product performance, optimize design and cut down the new product development time which in turn is driving computer-aided engineering market growth.
The computer-aided engineering market is witnessing some trends, such as deep learning and AI integration aiming at improving the simulation capabilities, thereby allowing more accurate predictions and optimizations. There is rise of cloud-based CAE solutions due to their scalability and accessibility features that enable teamwork and remote work. Sector-centric CAE software that is meant for automotive, aerospace and healthcare is being developed and is emerging quickly to deal with unique problems and expectations that these industries hold.
Comprehensive Analysis of Computer-aided Engineering Market
The computer-aided engineering industry is rising at an exponential rate due to its market segmentation. These segmentations are methodically segregated by deployment, by type and by end-user. Based on deployment, market is divided into cloud and on-premise. Based on type, market is divided into finite element analysis (FEA), computational fluid dynamics (CFD), thermal analysis, multibody dynamics and others (mechanical event simulation). Based on end-user, market is divided into automotive, medical devices, industrial equipment, defense & aerospace, electronics, others (energy, consumer goods).
The Europe holds leading position in computer-aided engineering market share by benefitting a market size of USD 2.80 billion in 2023 due to advanced technical infrastructure, high level research funding, and strong position of the automotive and aerospace industry. Large economies such as Germany, France, and the UK are the main players with the presence of major CAE software vendors and manufacturing companies. Strict regulations on product safety and environmental friendliness intensify the need for CAE solutions in various sectors.
The top players in the market play a crucial role in the healthcare industry assuring industrial prospectus growth and setting market standards. These players include, ESI Group (France), Siemens AG (Germany), Hexagon AB (Sweden), Aveva Group (U.K.), SimScale (Germany), ANSYS, Inc. (U.S.), Altair Engineering Inc. (U.S.), Autodesk, Inc. (Germany), Bentley Systems, Inc. (U.S.), Dassault Systemes (U.S.). These market players provide a level-playing competitive landscape.
April 2023: Through the advent of computer-aided engineering Avient Corporation now is able to accurately predict behavior of composite materials thus improving performance of fibre composites by eliminating the need of re-designing.
Segmentation Table
Global Computer-aided Engineering Market Scope
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Unit Value (USD billion)
Growth Rate CAGR of 11.7% from 2024 to 2032
Segmentation By Deployment
Cloud
On-premise
By Type
Finite Element Analysis (FEA)
Computational Fluid Dynamics (CFD),
Thermal Analysis
Multibody Dynamics
Others (Mechanical Event Simulation)
By End-user
Automotive
Medical Devices
Industrial Equipment
Defense & Aerospace
Electronics
Others (Energy, Consumer Goods)
By Region
North America (By Deployment, By Type, By End-user, and By Country)
- U.S. (End-user)
- Canada (End-user)
- Mexico (End-user)
Europe (By Deployment, By Type, By End-user, and By Country)
- Germany (End-user)
- France (End-user)
- Italy (End-user)
- Spain (End-user)
- Russia (End-user)
- Benelux (End-user)
- Nordics (End-user)
- Rest of Europe
Asia Pacific (By Deployment, By Type, By End-user, and By Country)
- China (End-user)
- India (End-user)
- Japan (End-user)
- South Korea (End-user)
- ASEAN (End-user)
- Oceania (End-user)
- Rest of Asia Pacific
Middle East & Africa (By Deployment, By Type, By End-user, and By Country)
- Turkey (End-user)
- Israel (End-user)
- GCC (End-user)
- South Africa (End-user)
- North Africa (End-user)
- Rest of the Middle East & Africa
South America (By Deployment, By Type, By End-user and By Country)
- Brazil (End-user)
- Argentina (End-user)
- Rest of South America
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