The
engineering software market provides an immensely competitive
platform for companies by assisting them in providing customized
solutions for their customers. There are various types of engineering
software prevalent in the market, namely computer-aided engineering
(CAE) software, computer-aided designing (CAD) software,
architecture, engineering, and construction (AEC) software,
computer-aided manufacturing (CAM) software, and electronic design
automation (EDA) software.
The
global engineering software market stood at US$19.98 billion in 2014,
and is expected to expand at an impressive CAGR of 12.4% between 2015
and 2022. Transparency Market Research (TMR) explores the different
ways via which the engineering software assists various companies in
a number of ways and provides a bird’s eye view of the prominent
drivers, restraints, and future opportunities that will impact the
growth of the global engineering software market in the forthcoming
future.
Browse
Market Research Report of Engineering Software Market:
http://www.transparencymarketresearch.com/engineering-software-market.html
What
are the Key Factors Fuelling the Global Market for Engineering
Software?
The
increase in implementation of integrated solutions for designing and
evaluating engineering systems and the increasing requirement for
automation are amongst the major factors stimulating the global
market for engineering software. Additionally, the establishment of
engineering software products that are cloud-based is augmenting the
market’s growth to a great extent.
Furthermore,
the increase in demand for mobile devices, namely tablets,
smartphones, and laptops, has increased the accessibility and ease of
engineering software, which is boosting the growth of the market for
engineering software.
Which
Application Segment Dominated the Software Engineering Market in 2014
and Why?
In
terms of applications, the global market for engineering software is
segmented into drafting and 3D modeling, plant design, product design
and testing, design automation, and others. Amongst these, the
application segment of product design and testing dominated the
engineering software market in 2014, due to increasing sophistication
of connectivity technology, which enables examining and remotely
analyzing products within the field.
The
application segment of drafting and 3D modelling is predicted to be
the most swiftly developing application segment, due to its increased
utilization in advertising, textbook publishing, geology and science,
and marketing. Additionally, geologists and scientists are utilizing
3D modeling to initiate earthquakes to gain a better understanding of
the impact of stress in order to draw conclusions applicable to
disaster management services around the world.
Browse
Press Release of Engineering Software Market:
http://www.transparencymarketresearch.com/pressrelease/engineering-software-market.htm
Which
Region Dominated the Global Engineering Software Market in 2014 and
Why?
In
2014, North America dominated the global engineering market,
representing one third of the total revenue in the overall market.
and is expected to rule the market in the forecast horizon from 2015
to 2022. The reason for its persistent dominance is the emergence of
engineering software that is cloud-based, which offers a number of
benefits such as large storage space, easy access, and security.
On
the other hand, the Latin America engineering software market is
anticipated to be the most swiftly developing market in the forecast
period. This is due to the rapid development of telecommunication and
manufacturing industries, which make substantial utilization of
engineering software.
Bring
Your Own Device (BYOD) policies and increasing mobility are amongst
the major trends prevalent in numerous end-use sectors, thus fuelling
the demand for modern engineering software, which is easily
accessible remotely.
Bentley
Systems, Inc., Autodesk, Inc., IBM Corporation, Dassault Systemes
S.A., Geometric Ltd., SAP SE, Synopsys, Inc., Siemens PLM Software,
Inc., PTC, Inc., MSC Software Corporation, and Ansys, Inc. are
amongst the major players in the global engineering software market.
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