Cloud-based tools have enabled industries to enhance their market reach in small and medium sectors offering advantages including low operating costs , maintenance costs , and company mobility . Further , pay-per-use billing techniques are expected to leverage the CAE market growth over the forecast period .
Lack of technical proficiency and shortage of trained labour force is expected to hamper market growth over the forecast period . Organisations are expected to hesitate in making high investments for CAE licenses owing to the presence of open source solutions . Counterfeit software is a threat to the CAE market players . Extreme competition is expected to affect market players resulting in the reduction of profit margins and rise in operational expenditures . High maintenance and license costs offer challenges for overall market growth .
CAE market is segmented on the basis of product design which includes computational fluid dynamics ( CFD ) and finite element analysis ( FEA ). Finite element analysis finds its application in the assessment of given product design before its model is formed is done using finite element analysis . Computational fluid dynamics include analysis of engine movement , pressure measurement , and studying liquid and gases with various structures . CAE market is also segmented on the basis of end-user application which includes aerospace , defence , automobile , electronics , and industrial machinery . CAE tools have assisted organisations in aerospace and automobile sectors to develop safer product along with avoiding huge expenditures of developing prototype model .
Browse Full Research Report @ https :// www . millioninsights . com / industry-reports / computer-aided-engineering-cae-market
Asia Pacific leads the market and the trend is anticipated to continue owing to the presence of a large number of manufacturing industries adopting CAE tools . Regional demand is followed by North America and Europe on account of high concentration of automated manufacturing industries . Increasing adoption of CAE tools among SME is expected to drive the overall regional demand may drive the CAE market in Latin America . Africa has been witnessing a slow growth owing to the absence of advanced manufacturing processes .
Major players in the CAE market include Dassault , ANSYS , Siemens PLM Software , MSC Software , Altair Engineering , ESI Group , Mentor Graphics , Computational Engineering International , Bentley Systems , Exa Corporation , Numeca International , NEi Software and Flow Science . Merger and acquisition have been a common trend observed in recent years . Companies try to expand their geographical reach as well as product portfolio through these merger strategies . Organisations have been concentrating on research and development for continuous improvement of their products . This is very essential to make themselves compatible with the growing machine technology . In June 2015 , ANSYS acquired Gear Design Solutions . The collaboration of technology of both these companies is expected to assist ANSYS in providing simulation structure to the electronic and semiconductor market .