Computer Aided Engineering Market Size and Forecast 2024-2033|Altair Engineering Inc., Dassault Systèmes SE, ESI Group, Siemens AG, Hexagon AB

Over the Shoulder Shot of Engineer Working with CAD Software on Desktop Computer, Screen Shows Technical Drafts and Drawings. In the Background Engineering Facility Specialising on Industrial Design

Overview and Scope

Computer-aided engineering refers to simulating performance in order to enhance product designs or aid in the resolution of technical challenges. Computer software is used in computer-aided engineering, or CAE, to enhance product design and address engineering issues in a variety of sectors.

Sizing and Forecast

The computer aided engineering market size has grown strongly in recent years. It will grow from $8.97 billion in 2023 to $9.87 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period can be attributed to advancements in computational power, globalization of engineering work, increasing complexity in product design, simulation-driven design, cost and time savings, regulatory compliance requirements, automotive crash testing simulation.

The computer aided engineering market size is expected to see strong growth in the next few years. It will grow to $14.1 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to rise of industry 4.0 and smart manufacturing, increased complexity in electronics design, focus on sustainability and environmental impact, enhanced human-machine interaction simulations, digitalization of construction and infrastructure, increased use in consumer electronics.. Major trends in the forecast period include increased integration of multiphysics simulations, advancements in high-performance computing (hpc), growing adoption of cloud-based cae, focus on user-friendly interfaces and workflows, increased use of generative design, use of virtual prototyping for system-level simulation.

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Segmentation & Regional Insights

The computer aided engineering market covered in this report is segmented –

1) By Type: Finite Element Analysis (FEA), Computational Fluid Dynamics (CFD), Multibody Dynamics, Optimization and Simulation

2) By Depolyment: On-Premise, Cloud-Based

3) By End-Use: Automotive, Defense and Aerospace, Electronics, Medical Devices, Industrial Equipment

Europe was the largest region in the computer-aided engineering market in 2023. The regions covered in the computer aided engineering market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

Increasing automation in the manufacturing sector is expected to propel the growth of the computer-aided engineering market going forward. Automation refers to the development and deployment of technologies for the production and delivery of products and services with little or no human participation. Automation technologies such as computer-aided drafting and computer-assisted N/C tape preparation are now available and widely used in the manufacturing sector to help reverse the troubling trend of declining productivity. For instance, in September 2023, according to the International Federation of Robotics (IFR), a Germany-based professional non-profit organization, the total number of service robots sold for professional use hit 158,000 units in 2022—an increase of 48%. It is recorded that 553,052 industrial robot installations are in factories around the world—a growth rate of 5% in 2022, year-on-year. Therefore, increasing automation in the manufacturing sector is expected to drive the growth of the computer-aided engineering market.

Key Industry Players

Major companies operating in the computer aided engineering market report are Altair Engineering Inc., Dassault Systèmes SE, ESI Group, Siemens AG, Hexagon AB, Seiko Epson Corporation, Exa Corporation, Bentley Systems Inc., Numeca International, Dell Inc., Aspen Technology Inc., Symscape Pty Ltd, Synopsys Inc., Aveva Group plc, Autodesk Inc., ANSYS Inc., PTC Inc., COMSOL Inc., MSC Software Corporation, Mentor Graphics Corporation, The MathWorks Inc., OpenText Corporation, Siemens Industry Software NV, CD-adapco, ETA Engineering Inc., Ricardo Software, ZWSOFT Co. Ltd., Zemax LLC, Flow Science Inc., GNS Systems GmbH, AVL List GmbH, EnginSoft S.p.A.

The computer aided engineering market report table of contents includes:

1. Executive Summary

2. Computer Aided Engineering Market Characteristics

3. Computer Aided Engineering Market Trends And Strategies

4. Computer Aided Engineering Market – Macro Economic Scenario

5. Global Computer Aided Engineering Market Size and Growth

26. South America Computer Aided Engineering Market

27. Brazil Computer Aided Engineering Market

28. Middle East Computer Aided Engineering Market

29. Africa Computer Aided Engineering Market

30. Computer Aided Engineering Market Competitive Landscape And Company Profiles

Top Major Players: