Computer Aided Engineering Market To Gain A Healthy CAGR of 9.3% By 2027 Based on Enhanced Usage in Electronics, Manufacturing, Automotive, Defense and Aerospace Industries | Million Insights

June 22 06:20 2021
Computer Aided Engineering Market To Gain A Healthy CAGR of 9.3% By 2027 Based on Enhanced Usage in Electronics, Manufacturing, Automotive, Defense and Aerospace Industries | Million Insights

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According to new report available with Million Insights, the global computer aided engineering (CAE) industry to witness growth due to rising outsourcing of manufacturing processes in developing countries such as China, India, Russia and Brazil. The integrated CAD software solution eliminates issues such as product recall and multiple prototypes. In addition, the rising use of computational fluid dynamics (CFD) is likely to spur the Computer Aided Engineering market growth.

The global computer aided engineering (CAE) market size is anticipated to account for USD 14.9 billion by 2027, growing at 9.3% CAGR, according to a new report by Million Insights. CAE is a use of computer software to simulate the performance of the design with the aim to improve product quality. CAE is used in various industries such as electronics, manufacturing, defense & aerospace and automotive among others. In the electronics industry, CAE is used in the manufacturing of various components such as smartphone, tablets and other IoT solution.

Wearable devices are the major electronic products where CAE is used predominantly. In the recent past, there has been significant growth in the adoption of wearable technology in various applications such as education, fitness, gaming and transportation. Further, miniaturization of sensors and electronic devices are likely to drive the use of CAE software in electronics industries.

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Automotive is the other major end-use industry where is CAE software is used for various applications. Over the past few years, there has been a rise in the focus on the safety features such as ADAS, parking assistance and collision avoidance system. Growing adoption of these technologies is estimated to bolster the demand for CAE software in automotive. In automotive, CAE ensures a high degree of precision and quality.

Europe held the largest share in the CE market in 2019 owing to the developed automotive industry and increasing investment in industrial automation. On the other hand, Asia Pacific is projected to register the significant growth over the forecast duration. Increasing industrialization in countries such as India and China is the major factor driving the CAE growth in the region.

To browse report summary & detailed TOC, please click the link below:
https://www.millioninsights.com/industry-reports/computer-aided-engineering-cae-market

Further key findings from the report suggest:

• In 2019, the FAE segment held the largest share in the market owing to its increasing use in the automotive sector.

• By deployment, the cloud-based segment is projected to register the highest growth over the forecast duration.

• Depending on the end-use, in 2019, the automotive segment accounted for the highest share in the CAE market.

• Prominent players operating in the market are Exa Corporation, ESI Group, Siemens AG and MSC Software Corporation among others.

Million Insights has segmented the global computer aided engineering market based on type, deployment model, end use, and region:

Computer Aided Engineering (CAE) Type Outlook (Revenue, USD Million, 2016 – 2027)
    • Finite Element Analysis (FEA)
    • Computational Fluid Dynamics (CFD)
    • Multibody Dynamics
    • Optimization & Simulation

Computer Aided Engineering (CAE) Deployment Model Outlook (Revenue, USD Million, 2016 – 2027)
    • On-premise
    • Cloud-based

Computer Aided Engineering (CAE) End-use Outlook (Revenue, USD Million, 2016 – 2027)
    • Automotive
    • Defense & Aerospace
    • Electronics
    • Medical Devices
    • Industrial Equipment
    • Others

Computer Aided Engineering (CAE) Regional Outlook (Revenue, USD Million, 2016 – 2027)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • U.K.
        • France
        • Spain
        • Italy
        • Russia
    • Asia Pacific
        • China
        • India
        • Japan
        • Singapore
        • South Korea
    • South America
        • Brazil
    • Middle East and Africa

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