Market outlook for the global CFD market in the industrial machinery sector
The need to reduce product design time and cost drives the global CFD in the industrial machinery market. Technavios market research analysts project a CAGR of 11% over the next four years.
The market is witnessing a surge in the demand for CFD embedded with CAD. Customers prefer to adopt embedded solutions as it reduces the product development cycle time and simultaneously increases its efficiency. It enables engineers and other stakeholders to participate in product development and improve the collective product design. CFD and CAD-embedded software enable engineers to work on a single geometry, whereby changes made in one application directly get updated in others.
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Geographical segmentation the global CFD market in the industrial machinery sector
The major part of the revenue in the Global CFD market in industrial machinery sector was generated from the EMEA region mainly due to the presence of developed countries such as UK, Germany, and France.
Leading vendor analysis for the global CFD in the industrial machinery sector
Other prominent vendors in this market include Altair, Autodesk, COMSOL, CEI, ESI Group, and MSC Software.
Some large product lifecycle management (PLM) and CFD vendors have started providing integrated CFD software to improve the efficiency and effectiveness of product development cycles. Many customers prefer this integrated software as it reduces the product development cycle time and increases its efficiency simultaneously.
Demand for application specific CFD in the industrial machinery market
Every industry has unique, customized process functions that give rise to the demand for special-purpose CFD software. Many core and large vendors are developing CFD software specific to the end-user industries and application requirement. EXA, one of the leading CFD providers, as a part of the growth strategy, is focusing on providing application specific CFD. The applications management team of the company focuses more finding new applications for the customers and providing a solution through new simulation product. The availability of application specific CFD will lead to higher demand for CFD during the forecast period.
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Key questions answered in the report
What are the key factors driving the global CFD market in the industrial machinery sector?
What are the key market trends impacting the growth of the global CFD market in the industrial machinery sector?
What are the various opportunities and threats faced by the vendors in the global CFD market in the industrial machinery sector?
Market shares for APAC, Americas, and EMEA?
Key outcome of the five forces analysis on the global CFD market in the industrial machinery sector?
Growth forecast of the global CFD market in the industrial machinery sector?
Technavio also offers customization on reports based on specific client requirement.
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