A report released by Cambashi Insights has painted a positive picture for the computer-aided engineering (CAE) simulation tools industry, surpassing a value of $5.3 billion worldwide.
The announcement was made by the independent industry analyst firm in its latest market data resource, the Cambashi CAE Observatory. This observatory provides a very comprehensive and quantitative view of the CAE software market, and the assessment surely reflects positively for the industry.
The Cambashi CAE Observatory presents worldwide revenues for more than 470 design automation companies, and categorizes CAE industry revenues by capability (specific to Computational Fluid Dynamics - CFD), application and industry.
In the first data release, mechanical product design came out as the leading application within the simulation market. This accounts for over 60 percent of the global market (in 2016), as highlighted in Fig.1. This is considerably more than any other application, with architecture, engineering and construction carrying just under 10 percent of the global market.
Process & piping, geo-physical & climate, shipbuilding & maritime, biomedical, materials, and vulnerability, were other applications included in their analysis.
The automotive industry spends more on simulation tools than any other industry segment, and structures (CSM) is named as the leading capability.
Within the CFD segment, many companies are turning to cloud-based CFD solutions such as EXN/Aero, Simscale, and Uber Cloud to further enhance their capabilities, and their use looks likely to grow over coming decades as developers (such as Envenio) continue to develop high performance solutions. On-demand, affordable cloud based tools give engineers a better ability to work on more challenging, specialized, or larger simulations. These on-demand high performance (GPU/CPU) capabilities will catalyze further growth for the CFD segment, Sandler Research is reporting CAGR projections of 10.7%.
The observatory has presented the revenues of each vendor in the three categories, allowing the reader to identify key points of information. For example, one can identify the fastest growing or largest vendors in the acoustics sector, or even assess competition.
The Cambashi CAE Observatory allows CAE market planners to make use of this market data within their day-to-day lives, using such data to inform decisions and plans, and benchmarking growth, size, movement and other market trends.
Cambashi has partnered with intrinSIM to produce these results. intrinSIM offers market planning for those wishing to take a product or service to market, and help with determining strategy, positional establishment and assessing market potential.
In the CAE Observatory, data for the CAE software market is included from 2014 to 2016, along with forecasts out to 2020. The forecasts are based on a combination of Cambashi analysis and econometric data from Oxford Economics.
To find out more about the Cambashi CAE Observatory and their findings, click here.