The global
engineering software market defines the use of different software
such as computer-aided designing (CAD) software, computer-aided
engineering (CAE) software, computer-aided manufacturing (CAM)
software, electronic design automation (EDA) software, and
architecture, engineering, and construction (AEC) software. These
software are utilized across various engineering disciplines, such as
electronics and communication engineering, electrical engineering,
process engineering, chemical engineering, and mechanical
engineering. The global engineering software market was valued at US$
19.98 billion in 2014 and is forecast to grow at a CAGR of 12.4% from
2015 to 2022.
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The rising need of
automation and growing adoption of integrated solutions for analyzing
and designing of engineering systems is fueling the global
engineering software market. Furthermore, the growing penetration of
mobile devices such as smartphones, tablets and laptops has increased
the ease and accessibility of engineering software, which in turn, is
bolstering the growth of engineering software market. Furthermore,
the introduction of cloud-based engineering software products is
boosting the market growth tremendously. However, high maintenance
cost and license cost coupled with lack of technical expertise in
operating these software is hindering the market growth globally. The
key market players profiled in this report include Autodesk, Inc.,
Bentley Systems, Inc., Dassault Systemes S.A., IBM Corporation,
Geometric Ltd., Siemens PLM Software, Inc., SAP SE, Synopsys, Inc.,
PTC, Inc., Ansys, Inc., and MSC Software Corporation. A significant
opportunity for the key players lies in the growing demand of
engineering software across marine, ship building and offshore
sectors in order to provide reliable operating platform to overcome
with extreme weather conditions, physical space constraints, and
remote locations.
The global
engineering software market is segmented on the basis of software
type, application type, and geography. On the basis of software type,
the market is segmented into CAD software, CAE software, CAM
software, AEC software, and EDA software. In 2014, the CAD software
segment led the market and is expected to continue its dominance with
nearly half of the global market revenue share in 2022. Currently,
the surge in demand for CAD software is driven by the growing trend
of mobile access to CAD which is boosting the adoption of CAD
software worldwide, especially in the APAC. Moreover, the evolution
of various new engineering trends such as 3D modeling, building
information modeling (BIM), concurrent engineering and 3D printing,
among others are expected to drive the engineering software’s
demand throughout the forecast period.
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On the basis of
applications, the global engineering software market is classified
into design automation, plant design, product design & testing,
drafting & 3D modeling and others. The others application segment
includes enterprise resource planning, project management, knowledge
management, and 3D printing services. In 2014, product design &
testing application segment led the engineering software market and
it is expected to continue its dominance with over one-fourth of the
global market revenue share in 2022. This is owing to the rising
connectivity enabling remote analyzing and examining of products in
the field. The drafting & 3D modeling is expected to be the
fastest growing application segment owing to its rising usage in
textbook publishing, advertising, marketing, and geology &
science. Scientists and geologists are using 3D modeling to simulate
earthquakes and landforms in order to see the effect of stress and
draw conclusions based on their findings.
North America led
the global engineering software market in 2014, accounting for over
one-third of the global market revenue share and it is expected to
lead the market throughout the forecast period 2015 to 2022. This is
owing to the evolution of cloud-based engineering software which
provides a range of advantages, such as ease of access, large space
of storage, and security. Latin America is expected to be the fastest
growing region for the market owing to immense growth in
manufacturing and telecommunication industries, making significant
usage of engineering softwares. The market for CAD/CAM/CAE and EDA is
anticipated to increase in Brazil, Mexico, Argentina, and Mexico. In
Middle East & Africa (MEA), government investments and
advancements in technology are acting as drivers for the growth of
industrial sector, which in turn, is anticipated to drive the
engineering software market in the coming years. In addition, the
growth of engineering software market in Asia Pacific is mainly
driven by burgeoning construction field and expanding automation
industry. Thus, the engineering software market is analyzed to grow
at a CAGR of 12.4% during the period 2015 to 2022.
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