Engineering Software Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Engineering Software Market
The Engineering Software Market Size was valued at USD 44.22 billion in 2023, and the Market is now projected to grow from USD 48.38 billion in 2024 to USD 105.30 billion by 2032, exhibiting a CAGR of 10.2% during the forecast period of 2024-2032.
Another shift was also triggered by the pandemic where many of the engineering teams had to work from home and this led to a widespread and early adoption of cloud-based engineering software. It also shifted communication which helped in accessing high computing capabilities without having own physical infrastructure. The demand for digital transformation has emerged as organizations faced the challenge of working at a time when offices were shut due to the outbreak of the COVID-19 virus. Software applications in engineering specifically in design applications with automation, virtual 3D modeling, and simulation counterparts were sought for improving organizational efficiency and productivity through embracing of digital technologies, impeding the rise of Engineering Software Market Growth.
The demand for Engineering Software has risen due to the Increasing adoption of high-tech technologies, resulting in the expansion of Engineering Software Market share globally. The advancement of technologies like artificial intelligence and machine learning along with IoT is emerging as a powerful factor that is giving the robust twist to the software used in engineering field. These enable better design, simulation and analysis in order to increase efficiency and creativity in engineering tasks Technology, in turn, enables design and engineering tools to be made more collaborative, flexible, and cost-effective through cloud-based engineering software. The connectivity allows the use of supercomputers and huge data pools anytime and anywhere – this strengthens the culture of teleworking and collaboration across the world, which has gained much significance in recent years.
Additionally, SaaS-based cloud engineering software enables the engineers to use excellent tools along with the data which can be used from any place having an internet connection. The following are the advantages arising from the use of advanced collaborative tools: One of the most significant advantages is that advanced collaborative tools facilitate work and foster effective communication among members of a given team irrespective of the geographical location of such members. Communication and sharing instruments included in Saas applications help improve the work of the teams, coordinating versioning and managing projects – all of which is vital for engineering businesses working on large-scale projects with numerous participants.
Comprehensive Analysis of Engineering Software Market
The Engineering Software Market is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the Information & Communication Technology Industry. These Segmentations are methodically segregated by Application, by Deployment and by Industry. The Application includes CAD, PDM, PLM, and design quality. The Deployment includes Cloud and On-premises. However, the Industry includes Automotive, Aerospace and Defense, Manufacturing, Healthcare, Semiconductors and Electronics, Retail, and others (Construction and Media and Entertainment).
The North American region leads the Engineering Software Market by benefitting a market size of USD 14.48 billion in 2023 due to the existence of key players who are constantly enhancing their model advancement systems. The social and economic development of the given product range improves the status of vendors in the region. Thus, leaders in the field improve their solutions through innovation, partnership, merger, or acquisition in the region..
The top players in the market play a crucial role in the Information & Communication Technology Industry assuring industrial prospectus growth and setting market standards. These players include Autodesk Inc., (US), Dassault Systemes (France), PTC (US), Siemens Ltd. (Germany), SAP SE (Germany), Aras (US), Centric Software, Inc., (US), Oracle Corporation (US), Hexagon AB (Sweden), ComplianceQuest (US).
In December 2023,
Hexagon’s Manufacturing Intelligence division drew onto JSOL Corporation to build the virtual prototype of electrified powertrains using Multiphysics simulation.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 10.2 % from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Application
CAD
PDM
PLM
Design Quality
By Deployment
Cloud
On-premises
By Industry
Automotive
Aerospace and Defense
Manufacturing
Healthcare
Semiconductor and Electronics
Retail
Others (Construction and Media and Entertainment)
By Region
North America (By Application, By Deployment, By Industry, and By Country)
- U.S.
- Canada
- Mexico
Europe (By Application, By Deployment, By Industry, and By Country)
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Benelux
- Nordics
- Rest of Europe
Asia Pacific (By Application, By Deployment, By Industry, and By Country)
- China
- Japan
- India
- South Korea
- ASEAN
- Oceania
- Rest of Asia Pacific
Middle East & Africa (By Application, By Deployment, By Industry, and By Country)
- Turkey
- Israel
- GCC
- North Africa
- South Africa
- Rest of MEA
South America (By Application, By Deployment, By Industry, and By Country)
- Brazil
- Argentina
- Rest of South America
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Engineering Software Key Players Market Share/Ranking, 2023
- 5. Global Engineering Software Market Size Estimates and Forecasts, By Segments, 2019-2032
- 5.1. Key Findings
- 5.2. By Application (USD)
- 5.2.1. CAD
- 5.2.2. PDM
- 5.2.3. PLM
- 5.2.4. Design Quality
- 5.3. By Deployment (USD)
- 5.3.1. Cloud
- 5.3.2. On-premises
- 5.4. By Industry (USD)
- 5.4.1. Automotive
- 5.4.2. Aerospace and Defense
- 5.4.3. Manufacturing
- 5.4.4. Healthcare
- 5.4.5. Semiconductor and Electronics
- 5.4.6. Retail
- 5.4.7. Others (Construction and Media and Entertainment)
- 5.5. By Region (USD)
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Middle East & Africa
- 5.5.5. South America
- 6. North America Engineering Software Market Size Estimates and Forecasts, By Segments, 2019-2032
- 6.1. Key Findings
- 6.2. By Application (USD)
- 6.2.1. CAD
- 6.2.2. PDM
- 6.2.3. PLM
- 6.2.4. Design Quality
- 6.3. By Deployment (USD)
- 6.3.1. Cloud
- 6.3.2. On-premises
- 6.4. By Industry (USD)
- 6.4.1. Automotive
- 6.4.2. Aerospace and Defense
- 6.4.3. Manufacturing
- 6.4.4. Healthcare
- 6.4.5. Semiconductor and Electronics
- 6.4.6. Retail
- 6.4.7. Others
- 6.5. By Country (USD)
- 6.5.1. United States
- 6.5.2. Canada
- 6.5.3. Mexico
- 7. Europe Engineering Software Market Size Estimates and Forecasts, By Segments, 2019-2032
- 7.1. Key Findings
- 7.2. By Application (USD)
- 7.2.1. CAD
- 7.2.2. PDM
- 7.2.3. PLM
- 7.2.4. Design Quality
- 7.3. By Deployment (USD)
- 7.3.1. Cloud
- 7.3.2. On-premises
- 7.4. By Industry (USD)
- 7.4.1. Automotive
- 7.4.2. Aerospace and Defense
- 7.4.3. Manufacturing
- 7.4.4. Healthcare
- 7.4.5. Semiconductor and Electronics
- 7.4.6. Retail
- 7.4.7. Others
- 7.5. By Country (USD)
- 7.5.1. United Kingdom
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Benelux
- 7.5.8. Nordics
- 7.5.9. Rest of Europe
- 8. Asia Pacific Engineering Software Market Size Estimates and Forecasts, By Segments, 2019-2032
- 8.1. Key Findings
- 8.2. By Application (USD)
- 8.2.1. CAD
- 8.2.2. PDM
- 8.2.3. PLM
- 8.2.4. Design Quality
- 8.3. By Deployment (USD)
- 8.3.1. Cloud
- 8.3.2. On-premises
- 8.4. By Industry (USD)
- 8.4.1. Automotive
- 8.4.2. Aerospace and Defense
- 8.4.3. Manufacturing
- 8.4.4. Healthcare
- 8.4.5. Semiconductor and Electronics
- 8.4.6. Retail
- 8.4.7. Others
- 8.5. By Country (USD)
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. South Korea
- 8.5.5. ASEAN
- 8.5.6. Oceania
- 8.5.7. Rest of Asia Pacific
- 9. Middle East & Africa Engineering Software Market Size Estimates and Forecasts, By Segments, 2019-2032
- 9.1. Key Findings
- 9.2. By Application (USD)
- 9.2.1. CAD
- 9.2.2. PDM
- 9.2.3. PLM
- 9.2.4. Design Quality
- 9.3. By Deployment (USD)
- 9.3.1. Cloud
- 9.3.2. On-premises
- 9.4. By Industry (USD)
- 9.4.1. Automotive
- 9.4.2. Aerospace and Defense
- 9.4.3. Manufacturing
- 9.4.4. Healthcare
- 9.4.5. Semiconductor and Electronics
- 9.4.6. Retail
- 9.4.7. Others
- 9.5. By Country (USD)
- 9.5.1. Turkey
- 9.5.2. Israel
- 9.5.3. GCC
- 9.5.4. North Africa
- 9.5.5. South Africa
- 9.5.6. Rest of MEA
- 10. South America Engineering Software Market Size Estimates and Forecasts, By Segments, 2019-2032
- 10.1. Key Findings
- 10.2. By Application (USD)
- 10.2.1. CAD
- 10.2.2. PDM
- 10.2.3. PLM
- 10.2.4. Design Quality
- 10.3. By Deployment (USD)
- 10.3.1. Cloud
- 10.3.2. On-premises
- 10.4. By Industry (USD)
- 10.4.1. Automotive
- 10.4.2. Aerospace and Defense
- 10.4.3. Manufacturing
- 10.4.4. Healthcare
- 10.4.5. Semiconductor and Electronics
- 10.4.6. Retail
- 10.4.7. Others
- 10.5. By Country (USD)
- 10.5.1. Brazil
- 10.5.2. Argentina
- 10.5.3. Rest of South America
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Autodesk Inc.
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. Dassault Systèmes
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. PTC
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Siemens Ltd.
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. SAP SE
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. Aras
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. Centric Software, Inc.
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Oracle Corporation
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Hexagon AB
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. ComplianceQuest
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
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