Computer Aided Engineering (CAE) Market Worth $22.68 Billion By 2032, CAGR 11.5%

Computer Aided Engineering (CAE) Market Size Worth USD 22.68 Billion By 2032 | CAGR: 11.5%


The global computer-aided engineering (CAE) market size is expected to reach USD 22.68 billion by 2032, according to a new study by Polaris Market Research. The report “Computer Aided Engineering (CAE) Market Share, Size, Trends, Industry Analysis Report, By Type (Computational Fluid Dynamics, Finite Element Analysis, Multibody Dynamics, Thermal Analysis, Others); By Deployment; By End-user; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The market is rapidly expanding, owing largely to the growing popularity of wearable technology. Computer-aided engineering (CAE) is the use of computer software to simulate the performance of a product. This technique aids in the improvement of product designs and the resolution of engineering issues in a variety of industries. The widespread use of IoT (Internet of Things) devices such as smartphones, tablets, and other smart devices is also driving demand for CAE software. Fitness, medicine, entertainment, gaming, education, and transportation all make use of these devices.

Furthermore, the miniaturization of sensors and electronic devices has fueled the growth of the CAE market. Government regulations in the automotive industry, such as those governing parking assistance systems, collision avoidance, interactive infotainment systems, and wireless communication technology, have also aided market expansion. The advancement of advanced technologies, such as semi-autonomous and driverless cars, is also expected to boost market growth.

Several challenges are impeding the market's growth, including the high cost of implementing CAE software and hardware, which can be prohibitively expensive for small and medium-sized businesses. Furthermore, companies may find it difficult to integrate CAE systems into their existing workflows due to a lack of standardization in CAE tools and data formats. Another challenge is the requirement for specialized skills and training to effectively use CAE software, which may result in a shortage of skilled professionals in the field.

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As more devices connect to the internet, the demand for advanced software tools that can simulate, analyze, and optimize their performance grows. Engineers can use CAE software to virtually design, test, and validate these devices before they are built. This enables shorter product development cycles, lower prototyping costs, and higher product quality. Manufacturers in the CAE market concentrate on creating and distributing software tools that allow engineers to digitally design, analyze, and simulate products before they are built physically.

Computer Aided Engineering (CAE) Market Report Highlights

  • Finite element analysis (FEA) has dominated the computer-aided engineering market because it simulates real components to investigate structural analysis, heat transfer, electromagnetic potential, and mass transport problems.
  • The automotive industry emerged as the dominant segment in the market, accounting for a sizable portion of total market revenue. This dominance can be attributed to a number of factors, including rising demand for advanced vehicle design and simulation technologies, a growing emphasis on reducing product development time and costs, and the need to meet stringent safety and regulatory requirements.
  • The North American region ruled the global computer-aided engineering (CAE) market in 2023, owing to the prominence of prominent sectors such as automotive, aerospace and defense, and industrial equipment, which are major users of CAE software and services.
  • The global key market players include Altair Engineering Inc., Autodesk Inc., Bentley Systems, Casio Computer Co. Ltd., Dassault Systemes, ESI Group, Exa Corporation, Siemens AG, SimuTech Group, etc.

Polaris Market Research has segmented the computer-aided engineering market report based on type, deployment, end-user, and region:

Computer Aided Engineering, Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Computational Fluid Dynamics (CFD),
  • Finite Element Analysis (FEA)
  • Multibody Dynamics
  • Thermal Analysis
  • Others

Computer-Aided Engineering, Deployment Outlook (Revenue - USD Billion, 2019 - 2032)

  • Cloud
  • On-premise

Computer-Aided Engineering, End-user Outlook (Revenue - USD Billion, 2019 - 2032)

  • Automotive
  • Defence & Aerospace
  • Electronics
  • Industrial Equipment
  • Medical Devices
  • Others

Computer-Aided Engineering, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Computer Aided Engineering (CAE) Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 9.49 Billion

Revenue Forecast in 2032

USD 22.68 Billion

CAGR

11.5% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD Billion and CAGR from 2024 to 2032

Segments Covered

By Type, By Deployment, By End-user, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Customization

Report customization as per your requirements concerning countries, regions, and segmentation.

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