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.
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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)
Computer Aided Engineering (CAE) End-use Outlook (Revenue, USD Million, 2016 – 2027)
• Defense & Aerospace
• Medical Devices
• Industrial Equipment
Computer Aided Engineering (CAE) Regional Outlook (Revenue, USD Million, 2016 – 2027)
• North America
• Asia Pacific
• South Korea
• South America
• Middle East and Africa
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