Computer-aided engineering (CAE) is the usage of sophisticated and interactive computer software to solve engineering problems. CAE includes tools such as computational fluid dynamics (CFD), finite element analysis (FEA), and multi-body dynamics (MBD). CAE software optimizes engineering tasks. These tools are generally used to analyze the performance and robustness of assemblies and components. CAE is used in many areas, such as aviation, space, automation, and shipbuilding. With faster processing due to the use of CAE, one can save on time and achieve goals faster. Models developed in computer-aided design (CAD) and verified in CAE are entered into computer-aided manufacturing (CAM) software, which controls machine tools like computer numeric control (CNC). CAE provides higher site construction standards, more sophisticated designs, and better building operation practices. Recent years have witnessed increasing adoption of computational fluid dynamics; for instance, the automotive industry have started using this tool in the designing of air cooled systems.
In recent years there has been increased partnership and mergers and acquisitions (M&A) between original CAE providers and resellers as well as between resellers. This is leading to an increase in the presence of a large number of value-added resellers (VARs), which is expected to boost the CAE market. CAE software has a wide application range and supports various tasks, such as analysis, validation, simulation, and the manufacturing of engineering products. Even though CAE is used as an analysis and troubleshooting tool, there is an opinion by critics that accurate results come late in the design cycle; this is expected to restrain the growth of the CAE market. Also, open source solutions (i.e., those for which the source code is available with a license) are readily available in the market.
Consequently, companies avoid making investments in obtaining the commercial licenses of CAE solutions, which is expected to hamper the growth of CAE market. A rise in the adoption of computational fluid dynamics, which helps in reducing the cost of electric vehicles and the prediction of thermal conditions, is expected to create a growth opportunity for the CAE market during the forecast period.
The global CAE market is segmented on the basis of CAE tools, end use, and region. In terms of CAE tools, the market can be segmented into computational fluid dynamics (CFD), finite element analysis (FEA), and multi-body dynamics (MBD) tools. The market is also classified on the basis of end use into electronics and electrical, defense, aerospace, automobile, and industrial machinery. The market segments on the basis of geographical regions are North America, Europe, Asia Pacific, South America, and Middle East and Africa (MEA). Asia Pacific is expected to lead the CAE market owing to the increasing adoption of CAE tools and the emergence of large number of manufacturing industries in the region.
Industry participants leading the CAE market with the most significant developments are Dassault Systemes, Siemens Product Lifecycle Management Software Inc., CD-adapco, Altair Engineering, Inc., AspenTechnology, Inc., Mentor Graphics, Inc., MSC Software Corporation, Computational Engineering International Inc., ESI Group, Bentley Systems Incorporated, and Exa Corporation.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.