Computer-aided engineering market size to grow to $19.2 billion by 2031 at a CAGR of 9.4%. Key players: ANSYS, Inc., Altair Engineering, Autodesk, Inc., Dassault Systemes

The global computer aided engineering market is expected to reach USD 19.2 billion by 2031, growing at a CAGR of 9.4% from 2022 to 2031.

Key drivers include the increasing adoption of cloud-based computing, the growing use of computational fluid dynamics (CFD) software for analyzing temperature in battery modules, and the miniaturization of electronic devices and sensors.

The market is segmented by type, deployment model, end-user, and region. In terms of type, the segmentation includes finite element analysis, computational fluid dynamics, multibody dynamics, and optimization and simulation.

By deployment model, the market is divided into on-premises and cloud. The market is categorized by end users into automotive, electronics, defense, healthcare, industrial equipment, and others. Geographically, the analysis covers North America, Europe, Asia-Pacific, and LAMEA.

Based on end-user, the automotive segment held the largest market share in 2021, holding nearly one-third of the global computer aided engineering market. Growth of the EV sector and rapid sales and technological advancements are expected to drive the growth of the segment.

The defense segment, on the other hand, is expected to cite the fastest CAGR of 11.5% during the forecast period, owing to the rapid adoption of advanced and rapid manufacturing technologies that encourage innovation level and accelerate supply chain.

Link to the original story: https://www.openpr.com/news/3310063/computer-aided-engineering-market-to-reach-usd-19-2-billion