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Engineering Software (CAD, CAM, CAE, AEC, & EDA) - Global Market Trajectory & Analytics

  • ID: 5030668
  • Report
  • January 2021
  • Region: Global
  • 262 pages
  • Global Industry Analysts, Inc
Muted Manufacturing Means Lower Innovation & New Product Development Activity. Hit by Poor Demand Fundamentals, Engineering Software Market Slumps by -9.4%.

The global market for Engineering Software (CAD, CAM, CAE, AEC, & EDA) is expected to decline by -9.4% in the year 2020 and thereafter recover and grow to reach US$ 55.6 billion by the year 2027, trailing a post COVID-19 CAGR of 9.7% over the analysis period 2020 through 2027. Global manufacturing industry is facing its worst ever recession with PMI plummeting to 35.4 index points, the lowest in recent industry. The impact on manufacturers will mean crunch on capital resources; workforce layoffs/reduction and loss in productivity; supply chain disruptions; difficulties with funding; and increase in cybersecurity risks and fraud. Unlike IT services where work is being carried out remotely via internet and cloud platforms, for the manufacturing industry, plant activities and production cannot be carried remotely and therefore remains worst affected. The slower economic activity means reduced demand for industrial and consumer goods and lower manufacturing orders. Plant closures both full and partial are expected to continue into the coming months. Manufacturers, especially automotive producers with complex supply chains will be hard hit as transportation, trade and movement of goods continue to remain crippled. Industrial output remains weak with the 1Hlaf of 2020 recording double digit declines in volume output.

With plants shuttered and new manufacturing orders dwindling, OEM outsourcing of product design and development projects has significantly slowed. Muted activity in Industries such as power & energy; heavy & structural; consumer & industrial; automotive means lower innovation & new product development activity. As consumers reduce spending on digital technologies such as connected smart home devices, smartwatches, smartphones, tablets, video game consoles, among others, electronics manufacturing will also weaken. A fall-out of this general weakness in industrial and consumer consumption will result in decline in manufacturing and assembly line operations. As capital and corporate cost budgets are revised based on dwindling new orders and, falling plant capacity utilization rates, spending on plant upgrades will be delayed. Asset strategies, for instance, will be impacted as budgets for equipment upgrades and new equipment purchases will be either repurposed or cancelled to manage the financial pressure posed by the current economic climate. With finances needed for supporting innovation drying up there is a hiatus in new product development. Used widely for 3D modeling/visualization, rapid prototyping, modelling, tool design and development & product platform/architecture design, Computer Aided Engineering is slumping in-line with the slowdown in engineering services demand.

The engineering software market encompasses advanced software solutions that help engineers during product design, development, testing and manufacturing phases. Engineering software covers solutions and packages that are extensively used in specialized engineering applications like mechanical, civil, production engineering, electrical & electronics, chemical, computer science, food & agriculture and others. Engineering software is commonly used by civil engineers for analysis of structural designs. These solutions are widely employed by mechanical, electrical & electronics, and computer & chemical engineers to ensure precise and high-quality product designs. In the post COVID-19 period, growth will be led by the rising adoption of 3D printing. Though initially used for prototyping of products, 3D printing has evolved and is currently capable of customized short-run manufacturing of industrial products, dental implants, and medical devices. The technology offers huge promise for users looking to produce customized products and those seeking to reduce delivery times. Given the rising emphasis on prompt delivery of products in an intensely competitive marketplace, companies are under pressure to make accurate and faster decisions during the conceptual stages. In 3D printing, engineering software tools are not only utilized for optimizing design, but also for optimization of the manufacturing process itself. Given the highly complex nature of physics involved in 3D printing processes, several quality issues can emerge, which can be addressed through the use of engineering software solutions. Engineering software types including CFD and FEA are important for optimizing and modeling additive manufacturing processes. Besides improving overall 3D print quality, engineering software tools can effortlessly optimize various parameters such as print speed, material inputs and energy, all of which are critical in ensuring economics of 3D printing processes. In particular, the combination of CAE and CAD offers the essential foundational data that is required to perform steps for development of manufacturing instructions for the printer. 3D printing industry has already acknowledged the importance of engineering software in project implementation in a seamless and resourceful manner. The growing adoption of 3D printing in varied industries, owing to the easy usage and customization capabilities, is therefore expected to boost growth in the market for engineering software.

Select Competitors (Total 118 Featured):
  • Ansys, Inc.
  • Autodesk, Inc.
  • AVEVA Group plc
  • Bentley Systems, Inc.
  • Dassault Systèmes SE
  • International Business Machines Corporation
  • MSC Software Corporation
  • PTC Inc.
  • Rockwell Automation, Inc.
  • SAP SE
  • Siemens Industry Software Inc.
  • Synopsys, Inc.
  • Vectorworks, Inc.

The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Note: Product cover images may vary from those shown
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Impact of Covid-19 and a Looming Global Recession
  • Pandemic Crisis Weakens Economic Environment, Triggering Negative Tide in GDP and Denting Engineering Software Market
  • EXHIBIT 1: World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
  • Industrial Activity to Remain Subdued in the Immediate Term
  • EXHIBIT 2: Global PMI Index Points for the Years 2018, 2019 & 2020
  • An Introduction to Engineering Software
  • Focus on Automation & Integrated Solutions Programs Engineering Software Market for Long Term Success: Outlook
  • CAD Remains Key Contributor to Engineering Software Market
  • EXHIBIT 3: World Engineering Software Market by Software Type (2020 & 2027): Percentage Breakdown of Revenues for Computer-Aided Engineering (CAE), Electronic Design Automation (EDA), Architecture, Engineering & Construction (AEC), Computer-Aided Designing (CAD), and Computer-Aided Manufacturing (CAM)
  • Product Design & Testing and Design Automation to Rule Market
  • EXHIBIT 4: World Engineering Software Market by Application (2020 & 2027): Percentage Breakdown of Revenues for Product Design & Testing, Design Automation, Drafting & 3D Modeling, Plant Design, and Other Applications
  • Regional Analysis: While Developed Markets Rule, Asia-Pacific to Display Fastest Growth
  • EXHIBIT 5: World Engineering Software Market (2020 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions
  • EXHIBIT 6: World Engineering Software Market - Geographic Regions Ranked by Value CAGR for 2020-2027: China, Asia-Pacific, Rest of World, USA, Canada, Europe, and Japan
  • Competitive Scenario
  • Recent Market Activity
  • Select Global Brands
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Reduced Prototyping Cost & Product Recalls with Integrated Software
  • Rising Adoption of 3D Printing Augurs Well
  • EXHIBIT 7: Global 3D Printing Market Size (in US$ Billion) for the Years 2019, 2022 and 2025
  • Relevance in Automotive Industry
  • EXHIBIT 8: World Automobile Production in Million Units: 2008-2022
  • Established Use in Aerospace & Defense Sector
  • EXHIBIT 9: COVID-19 Pandemic Dents Airline Revenues: Commercial Airline Revenue Growth (in %) for 2010-2020E
  • EXHIBIT 10: Global Airlines Performance by Region: 2020 Vs 2019
  • AI-Enabled Software Tools to Address Challenges of Engineering Processes
  • Value-Added Resellers Positively Impact the Market
  • Electronics Industry Extends Opportunities
  • EXHIBIT 11: Supply Chain Disruptions Impact a Large Number of Electronic Manufacturers: % Share of Companies Impacted by Supply Chain Delays Due to COVID-19 Worldwide as of May 2020
  • EXHIBIT 12: Rapidly Eroding Consumer Confidence Thwarts Hopes for a Quick Recovery: Global Consumer Confidence Index Points for 4Q2019, 1Q2020 & 2Q2020
  • Cloud-based SaaS Solutions Gain Traction
  • Engineering Software Gains Traction in EPC Sector
  • BIM Technology Streamlines Structural Designing Process
  • Traffic Engineering Software Seeks Opportunities
  • CAM Software Market Boasts Right Code for Phenomenal Gains
  • CAE Software Market Displays High Degree of Dynamism
  • Global CAD Software Market Maintains Positive Trajectory
  • IoT Impacts Engineering Software Market
  • EXHIBIT 13: Global Number of IoT Connected Devices (In Billion Units) for the Years 2016, 2018, 2020, 2022 & 2025
  • EXHIBIT 14: Global IoT Market (In US$ Billion) by Industry for the Years 2018 and 2022
  • Emphasis on Design Automation Favors Growth
  • Software Tools Streamline Drafting & 3D Modeling Processes
  • Open Source Software Restrains Market Growth
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS
  • GEOGRAPHIC MARKET ANALYSIS
  • UNITED STATES
  • CANADA
  • JAPAN
  • CHINA
  • EUROPE
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • REST OF EUROPE
  • ASIA-PACIFIC
  • REST OF WORLD
IV. COMPETITION
  • Total Companies Profiled: 176
Note: Product cover images may vary from those shown
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