Computer Aided Engineering (CAE) Market size is set to grow by USD 4.69 billion from 2024-2028, Growth of the smartphone industry boost the market, AI Role and Impact, Technavio

NEW YORK, Aug. 22, 2024 /PRNewswire/ — The global computer aided engineering (CAE) market size is estimated to grow by USD 4.69 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  9.45%  during the forecast period. Growth of the smartphone industry is driving market growth, with a trend towards increasing adoption of cfd for battery designing. However, lack of awareness among end-users about developments in CFD poses a challenge. Key market players include Altair Engineering Inc., ANSYS Inc., Autodesk Inc., Bentley Systems Inc., BETA CAE Systems, Cadence Design Systems Inc., Ceetron AS, COMSOL AB, Dassault Systemes SE, ESI Group SA, Fidesys LLC, Flow Sciences Inc., Hexagon AB, Parametric Designs and Solutions, PTC Inc., Seiko Epson Corp., Siemens AG, Simerics Inc., SimScale GmbH, and Symscape.

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Market Driver

The Computer Aided Engineering (CAE) market experiences significant growth due to the increasing adoption of Computational Fluid Dynamics (CFD) for battery design. CFD’s capacity to simulate fluid flow, heat transfer, and electrochemical processes in battery design enhances efficiency, reducing the need for costly and time-consuming physical prototypes. This efficiency is crucial for meeting the escalating demand for high-performance batteries in electric vehicles and renewable energy storage systems. Furthermore, CFD’s role in developing advanced battery technologies, such as solid-state and lithium-sulfur batteries, necessitates sophisticated modeling capabilities, driving the demand for CAE tools. Ensuring battery safety and regulatory compliance through CFD simulations also increases its adoption, mitigating risks like thermal runaway and short circuits. The integration of CFD with other CAE tools, like Finite Element Analysis (FEA), offers a holistic approach to battery design, enhancing overall efficiency and optimization. By enabling early identification of design issues, CFD reduces development costs and accelerates time-to-market. As industries pursue technological advancements and competitive edge, the reliance on CFD for customized and optimized battery solutions significantly contributes to the expanding CAE market, making these tools essential in modern engineering processes. Consequently, the increasing adoption of CFD for battery design propels the growth of the global CAE market. 

The Computer-Aided Engineering (CAE) market is experiencing significant growth, particularly in the passenger aircraft industry, where CAE solutions are used to analyze structural deformation during high-altitude flight, reduce fuel consumption, and decrease carbon emissions and footprint. Digital technologies, automation, cloud, and Building Information Modeling (BIM) are driving trends in this market. CAE solutions are also crucial for industries like consumer electronics, healthcare, aerospace & defense, and industrial equipment, where product durability, quality, and process management are key. CAE solution suppliers provide software for Finite Element Analysis (FEA), Computational Fluid Dynamics (CFD), and Multibody Dynamics (MBD), among others. Open-source platforms and Software-as-a-Service (SaaS) are gaining popularity. CAE solutions are also essential for defense and aerospace, electric vehicles, and industries dealing with composite parts, hardware failure, and thermal analysis. Value-added resellers play a vital role in delivering CAE solutions to various industry verticals. 

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Market Challenges

 The global Computer Aided Engineering (CAE) market faces a significant challenge in increasing awareness and understanding of the advantages of modern Computer Fluid Dynamics (CFD) software among end-users. Traditional CFD software posed challenges such as high expertise requirements, extensive training costs, and the need for supercomputers for analysis. However, the latest versions of CFD software have addressed these issues by reducing complexity, eliminating the need for extensive mathematical knowledge, and enabling use on laptops and PCs. Despite these advancements, many small-scale manufacturers, particularly in equipment markets like lawn sprinklers, have yet to adopt CFD due to affordability concerns. This represents an opportunity for CFD software vendors to expand their reach into untapped markets and promote the benefits of their technology beyond traditional industries. The CAE market, including cloud CFD, has vast potential, but its growth may be hindered by the persisting misconceptions regarding its applicability and accessibility. CFD software can be utilized in all fluid-handling equipment, including lawn sprinklers, for optimizing design and performance. By addressing affordability and awareness, the CAE market can unlock new opportunities and drive growth.The Computer Aided Engineering (CAE) market is experiencing significant growth due to the increasing demand for simulation-based design and problem-solving capabilities in various engineering sectors. Challenges such as engineering modes, concurrent engineering, and design iterations are being addressed through advanced CAE technology solutions. Startups and small-to-medium enterprises are benefiting from affordable CAE software products and cloud-based services. CAE technology companies and software developers are focusing on complex solutions that incorporate the Internet of Things, machine learning, and artificial intelligence for predictive modeling and optimization. Electronics companies are enhancing product quality and accelerating time-to-market with CAE. CAE software is essential for industries like commercial aviation, where energy-efficient aircraft, temperature simulation, and battery life optimization are critical. CAE solutions are available through licensing fees or pay-as-you-go subscriptions, providing flexibility for businesses of all sizes. CAE software is used for validation, simulation, and prototype development, enabling engineers to make informed decisions and improve design efficiency.

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Segment Overview 

This computer aided engineering (cae) market report extensively covers market segmentation by  

Type 1.1 FEA1.2 CFDEnd-user 2.1 Automotive2.2 Aerospace and defense2.3 Electrical and electronics2.4 OthersGeography 3.1 Europe3.2 North America3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 FEA-  Computer-Aided Engineering (CAE) market, specifically the Finite Element Analysis (FEA) software segment, plays a crucial role in the manufacturing industry. FEA software enables the evaluation of product designs’ functionality prior to physical prototype production. In industries such as electrical and electronics, FEA is essential for estimating structural strength and behavior, simulation, modeling, and design optimization. FEA software reduces costs by creating virtual prototypes for simulations, minimizing warranty and product return costs, and expediting product development. High Research and Development (R&D) investments are a significant factor fueling the FEA market’s growth. R&D investments are allocated for purchasing new technologies, hardware, software (including FEA), and services to create innovative products. The electrical and electronics industry heavily relies on FEA for risk-free product testing, cost reduction, and multitasking. FEA software helps engineers tackle complex problems related to power consumption reduction, electronic signal quality checks, and bandwidth improvement. The global FEA market’s growth is driven by R&D investments and stringent government regulations. Cloud-based FEA solutions’ availability is another key factor contributing to the market’s expansion, with APAC expected to adopt these solutions more rapidly due to the presence of numerous electrical and electronics companies.

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Research Analysis

The Computer Aided Engineering (CAE) market encompasses a range of computer software solutions used to simulate and analyze various engineering applications. These solutions include Finite Element Analysis (FEA) and Computational Fluid Dynamics (CFD) software for modeling and analyzing structural and fluid dynamics behavior. CAE solutions are utilized across diverse industries such as aerospace, electric vehicles, and manufacturing to enhance product durability, quality, and process management. Value added resellers play a crucial role in providing CAE software and services to businesses. CAE software is integral to simulation, validation, and concurrent engineering, enabling the creation of integrated CAE data and 3D prototypes. Licensing fees and pay-as-you-go subscriptions are common business models for CAE software. Building information modeling and 3D printing are also integrating with CAE solutions to streamline engineering modes and improve product development.

Market Research Overview

The Computer Aided Engineering (CAE) market is a dynamic and innovative industry that provides engineers with advanced tools for simulation, analysis, and optimization of complex systems. CAE solutions, including Finite Element Analysis (FEA) and Computational Fluid Dynamics (CFD) software, are essential for various industries such as electric vehicles, aerospace, defense, electronics, semiconductors, energy, and more. CAE technology enables product durability and quality enhancement, process management, and concurrent engineering. Value added resellers play a crucial role in delivering CAE solutions to startups, small-to-medium enterprises, and engineering sector clients. CAE software products offer decision-making capabilities, simulation-based design, and optimization algorithms, including machine learning and artificial intelligence. CAE solutions are applied to various industries, from electronics companies focusing on product quality enhancement and time-to-market acceleration to aerospace and defense, where they contribute to the design of energy-efficient aircraft, low-emission planes, and solar panels. The market also includes cloud-based CAE, localization strategies, and licensing fees or pay-as-you-go subscriptions. CAE technology is essential for modeling information, validation, and prototyping, addressing challenges such as temperature, battery life, fan performance, noise pollution, and fuel consumption. Digital technologies, automation, and cloud services are transforming the CAE market, enabling real-time collaboration, optimization, and predictive modeling.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeFEACFDEnd-userAutomotiveAerospace And DefenseElectrical And ElectronicsOthersGeographyEuropeNorth AmericaAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

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SOURCE Technavio