Finite Element Analysis (FEA) Software Global Market Report 2024

The finite element analysis (fea) software market size has grown rapidly in recent years. It will grow from $6.23 billion in 2023 to $7.01 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The expansion observed during the historical period can be attributed to several factors, including the widespread adoption of smartphones and tablets, the evolution of TV and monitor displays, heightened investment in Research and Development (R&D), improvements in display quality, and the growing consumer demand for innovative display technologies.

The finite element analysis (fea) software market size is expected to see rapid growth in the next few years. It will grow to $11.16 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The anticipated growth in the forecast period can be attributed to the increased adoption of display technologies in automotive displays, the commercialization of foldable devices, entry into mass production, expansion into new applications, and the growing popularity of display technologies in gaming devices. Significant trends expected during the forecast period encompass the utilization of wearable displays for Augmented Reality (AR) and Virtual Reality (VR), the development of rollable displays, advancements in the durability of foldable devices, the integration of flexible displays in smart home devices, and continuous innovations in display technology.

The surge in liquid fuel production is anticipated to drive the expansion of the finite element analysis software market in the foreseeable future. Liquid fuel production involves processes such as extraction, refining, and utilization of liquid substances such as gasoline and diesel for energy generation. Finite Element Analysis (FEA) software plays a crucial role in optimizing structural integrity, heat transfer, and fluid dynamics within equipment used in liquid fuel production. This optimization contributes to more efficient and secure processes, while also minimizing costs and environmental impact. As an example, data from the US Energy Information Administration in May 2022 indicates that the United Kingdom achieved a total liquid fuel production of 934,000 barrels per day (b/d) in 2021, with an increase in crude oil production to 793 barrels per day in 2022. Consequently, the upsurge in liquid fuel production is a driving force behind the growth of the finite element analysis software market.

Key players in the finite element analysis software market are focusing on innovative solutions, such as finite element analysis solvers. The Finite Element Analysis (FEA) solver is a pivotal computational engine embedded in FEA software, conducting intricate calculations essential for analyzing the behavior of a model under diverse conditions. As an illustration, in April 2023, Altair Engineering Inc., a US-based software company, introduced OpenRadioss. This is a freely available FEA software designed for simulating dynamic events such as impacts, crashes, and high-pressure loading. Notably, OpenRadioss shares the same input format and source code as its commercial counterpart, ensuring a seamless transition for users familiar with Radioss.

In December 2022, Ansys Inc., a US-based provider of simulation solutions, completed the acquisition of DYNAmore Holding GmbH for $140 million. This strategic move enhances automotive simulation capabilities by incorporating crucial go-to-market and development expertise, reinforcing existing sales, engineering, and customer support teams. DYNAmore Holding GmbH is a US-based provider of finite element software systems.

Major companies operating in the finite element analysis (fea) software market report are Siemens AG (Siemens PLM Software Inc.), IBM Corporation, Dassault Systemes, Hexagon AB, Keysight Technologies, Synopsys Inc, Autodesk Inc., ANSYS Inc, PTC Inc, Bently Systems Inc, Altair Engineering Inc, Aspen Technology, MSC Software Corporation, ESI Group, COMSOL AB, CD-ADAPCO Group, SimuTech Group, Flownex, NEi Software, NUMECA International, SimScale GmbH, BETA CAE Systems, Flow Science, ADINA R&D, Inc, Vanderplaats R&D Inc.

North America was the largest region in the finite element analysis (FEA) software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the finite element analysis (fea) software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the finite element analysis (FEA) software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The finite element analysis (FEA) software market consists of revenues earned by entities by providing services such as linear static and dynamic stress analysis, non-linear analysis including material non-linearity, large deformation and contact, FEA modal analysis, structural optimization, and time-dependent analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. The finite element analysis (FEA) software market also includes sales of MSC software, SolidWorks simulation, ANSYS, and autodesk simulation. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

Finite Element Analysis (FEA) software is a computerized tool that leverages the Finite Element Method (FEM) to anticipate the response of a product or object to real-world forces, including vibrations, heat, fluid flow, and other physical effects. The software achieves this by breaking down the object into numerous constituent parts, predicting the behavior of each element using mathematical formulas, and subsequently aggregating these individual behaviors to forecast the overall behavior of the entire component.

The principal categories of FEA software comprise Computational Fluid Dynamics (CFD), Electromagnetic Analysis, Thermal Analysis, and Multi-physics Analysis. Structural analysis, a crucial aspect of FEA, involves assessing the behavior and stability of structures under diverse loads and conditions. Deployment options for FEA software encompass both on-premises and cloud-based solutions. Furthermore, FEA finds applications across various industries such as automotive, aerospace and defense, electrical and electronics, civil engineering and construction, industrial machinery, medical devices, energy and power, among others.

The finite element analysis (FEA) software market research report is one of a series of new reports that provides finite element analysis (FEA) software market statistics, including finite element analysis (FEA) software industry global market size, regional shares, competitors with finite element analysis (FEA) software market share, detailed finite element analysis (FEA) software market segments, market trends, and opportunities, and any further data you may need to thrive in the finite element analysis (FEA) software industry. This finite element analysis (FEA) software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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