Finite element (FEA) Software Market: Introduction
- Finite element analysis (FEA) software is used to virtually test and predict the behavior of structures and solve complex structural engineering problems subjected to dynamic and static loading conditions. In addition, FEA software is used to perform simulations structure, which includes linear static and nonlinear quasi-static analyses.
- Finite element analysis (FEA) software is a computerized method to predict how a product reacts to real- world forces such as heat, vibration, fluid flow, and other physical effects. It also predicts the behavior of products affected by physical effects that include mechanical stress, mechanical vibration, fatigue, motion, heat transfer, electrostatics, and plastic injection molding.
- COVID-19 has adversely affected the finite element analysis (FEA) software market, due to decline in production and shutdowns across the world. The situation is exacerbated by staff shortages, and pressure on the existing infrastructure as firms scramble to deal with the impact of COVID-19. Hence, the disruption on manufacturing industries caused by COVID-19 has severe operational, social, and financial consequences, which in turn has affected the growth of the finite element analysis software market.
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Global Finite element analysis (FEA) Software Market: Dynamics
Global Finite element analysis (FEA) Software Market:
- Rising new fabrication materials - shape-memory alloys (SMAs) such as Nitinol and composites such as carbon-fiber-reinforced polymer (CFRP), is expected to boost the FEA software market. Introduction of new materials will push software developers to exploit the opportunity in industries.
- The trend of cloud and mobile-based FEA software, which enables designers and programmers to access the software and collaborate on results with anyone and from anywhere across the globe is expected to fuel the FEA software market.
- FEA software also eliminates the hassle of multiple prototypes, product recalls, and consumption of material, which is its major advantage. This drives the growth in R&D facilities across various industries globally, in turn, boosting the FEA software market.
- Rising demand for automobiles across the world is expected to accelerate the growth of the FEA software market. Automotive OEMs are aggressively developing new automobile and component designs such as next-generation IC engines and exhaust systems to curb vehicular emission and its impact on the environment. FEA software is the most cost-effective and fastest way to develop new products while improving quality and reliability of the product. This factor is likely to trigger the growth of the finite element analysis software market.
North America to Account for Major Share of the Global Finite Element Analysis (FEA) Software Market
- In terms of region, the global finite element analysis (FEA) software market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America is anticipated to lead the global finite element analysis (FEA) software market, due to well established players and rising adoption of FEA software for the production and manufacturing of automobiles and aerospace in the region.
- Europe is expected to hold a significant share of the FEA software market due to rise in R&D investments in the manufacturing sector and increasing initiatives for manufacturing automobiles.
- The finite element analysis (FEA) software market in Asia Pacific is expected to hold significant share due to rising adoption of FEA software across developing countries such as China and India. This is expected to fuel the growth of the finite element analysis (FEA) software market across Asia Pacific. In addition, the China government has launched an initiative called ‘Made in China 2025,’ to promote industrial growth. In the same way, India launched the ‘Make in India’ initiative to promote the growth of manufacturing facilities. Such initiatives across Asia Pacific are likely to increase the demand for efficient manufacturing in the region, which in turn will trigger the growth of the finite element analysis (FEA) software market.
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Global Finite element analysis (FEA) Software Technology Market: Competitive Landscape
Key Players Operating in the Global Finite Element Analysis (FEA) Software Market
Local, regional, and international players are present in the finite element analysis (FEA) software market. The market is highly consolidated, with top manufacturers accounting for approximately 25%–30% of the market share. Key players operating in the global finite element analysis (FEA) software market are:
- ANSYS, Inc.
- Autodesk Inc.
- COMSOL INC.
- Dlubal Software GmbH
- Lauterbach Verfahrenstechnik GmbH
- Manor Tool & Manufacturing Company
- Murata Software Co., Ltd.
- Sabalcore Computing, Inc.
- Siemens Industry Software Inc.
- SimScale GmbH
- SimuTech Group
Global Finite Element Analysis (FEA) Software Market: Research Scope
Global Finite Element Analysis (FEA) Software Market Segmentation, by Deployment
Global Finite Element Analysis (FEA) Software Market Segmentation, by Type
- Design Optimization
Global Finite Element Analysis (FEA) Software Market Segmentation, by Application
- Heavy Machinery
- Additive Manufacturing
- Industrial Equipment
- Automotive and Aircraft Parts
- Bridge design
- Medical Cases
Global Finite Element Analysis (FEA) Software Market Segmentation, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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- Market segments and sub-segments
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The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
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