Recently a new study titled “Engineering Software (CAD, CAM, CAE, AEC, & EDA) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022” has been added to the repository of Market Research Reports Search Engine (MRRSE). The report offers comprehensive insights and analysis on the global engineering software market for the forecast period 2014-2022. Qualitative and quantitative analysis on the global engineering software market has been offered to readers.
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The engineering software are used across various engineering disciplines, such as electrical engineering, electronics and communication engineering, chemical engineering, process engineering and mechanical engineering. These software are computer-aided designing (CAD) software, computer-aided manufacturing (CAM) software, computer-aided engineering (CAE) software, architecture, engineering, and construction (AEC) software and electronic design automation (EDA) software. According to the report, the global engineering software market which was evaluated earlier in 2014 for worth US$ 19.98 billion is now predicted to deliver 12.4% CAGR during assessment period 2015 to 2022.
The report has an executive summary sharing key details of global engineering software market such as market snapshot, market revenue and year-on-year growth. The next section for market overview provides introduction to the market, discusses market dynamics, observes key trends and also shares pricing trends in the global market of engineering software. The market dynamics includes factors that drive the market or found to be restraints to the growth of the market. According to the market, reduction in product development lifecycle time, rising demand for industrial automation, introduction of cloud-based engineering software, significant growth in global construction industry and rising availability of portable computing devices are some of the factors that drive the global engineering software market. On the other hand, report identifies factors found to be restraints to the growth of the market which are lack of technical expertise in operating engineering software and high maintenance and license costs.
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For detailed analysis, the market has been segmented on the basis of applications into 3D modelling, product design, drafting, drafting and 3D modelling, and others. Among these, demand for product design and testing application is the highest, and it is highly expected that its dominance will continue to remain so during the forecast period. On the other hand, drafting and 3D modelling is likely to remain the fastest growing segment on the back of robust demand from end users.
On the basis of region, North America is likely to remain one of the leading markets for engineering software globally. There is also growing demand for engineering software services in Asia Pacific, and the market is likely to grow at over 12% CAGR during the forecast period.
Some of the leading companies profiled in the report include Synopsys, Inc., SAP SE, Autodesk, Inc., Bentley Systems, Inc., IBM Corporation, Dassault Systemes S.A., PTC, Inc., Siemens PLM Software, Inc., Ansys, Inc., Geometric Ltd., and MSC Software Corporation.
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