Engineering Software Market - By Product Type, By Applications & Global Region - Market Size, Trends, Share & Forecast 2020-2025
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Engineering Software refers to the bundle of software or applications used for industrial advancement by engineers and engineering students to learn different tools. These software's are used for various industrial solutions in various branches of engineering such as civil, mechanical, electrical and electronics, computer science, chemical, food, and farming, manufacturing engineering, and so on. Various types of software are used in different branches of engineering.
Civil engineers often require software such as AutoCAD, Microsoft Office, Google Sketch Up, and SAP 2000 among other software for structural design analysis. Furthermore, mechanical engineers use software such as AutoCAD, ANSYS, and wildfire; whereas electrical and electronic engineers use software such as ETAP, Elecdes, Synopsys, and Smart Draw among many more.
Computer science and chemical engineers require extensively complicated and expensive software to ensure accuracy, reliability and quick delivery. The wide range of different engineering software available on the market has led to severe internal competition within this industry as several companies are trying to provide consumers with customized solutions. Engineering software market replaces manual labor and significantly increasing the engineer's work efficiency, raising construction costs and shortening the design cycle.
Any organization that is required to perform engineering related task can use engineering software, which are used in designing, automation, programming and product design, etc. Engineering software can be used by organizations of all sizes from the smallest businesses seeking a simpler framework to need a feature-rich solution from the large corporate corporations.
Rising Demand for Industrial Automation
The engineering software market is driven by an increasing need for automation and the demand for automation of integrated solutions to facilitate the quality design and analysis of engineering systems in a plethora of applications. In addition, with a rapidly expanding industry where cloud engineering is used on a vast scale, this market is progressing at a rapid pace in recent times.
Greater Ease of Access
Due to the less time-consuming applications and an all in one package for engineers, the engineering software market is expanding rapidly. Engineering software is being implemented by companies around the world to minimize production / construction errors.
Focus on alternate products
Presence of outdated software at low cost in market can limit growth for the global engineering software market.
Licensing and Maintenance Issue
With the rise in software specifications, the cost of the licensing per program is getting increased and it takes more time for less skilled people to install the program and comply with the license. However, the expense of maintaining the program is also high, requiring more professional engineers and more maintenance costs for the software's smooth operation.
On the basis of product type,
- Computer-Aided Designing (CAD) Software
- Computer-Aided Engineering (CAE) Software
- Computer-Aided Manufacturing (CAM) Software
- Engineering and Construction (AEC) Software
- Electronic Design Automation (EDA) Software
CAD engineering software is anticipated to grow at a CAGR of 6.8% during forecast period.
On the basis on the Applications,
- Design Automation
- Plant Design
- Product Design & Testing
- Drafting & 3D Modeling
In Application segment, drafting & 3D Modeling application occupied significant market share in 2019.
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa and Rest of Middle East & Africa)
North America dominated the engineering software Market in 2019, with a market share of more than 28%. This trend is anticipated to continue in near future. Rising adoption of cloud based in various companies is fostering the growth of engineering software market. Asia-Pacific is the fastest growing area on the engineering software market for the near future. Enterprises in Middle East are also adopting engineering software solutions which is envisioned to bolster the growth of the market.
The report profiles various major market players such as
- Bentley Systems, Inc.
- Dassault Systems, S.A.
- IBM Corporation
- Geometric Ltd.
- Siemens PLM Software, Inc.
- SAP SE
- Other Major & Niche Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
The study also provides company’s positioning and market share in yoga mat market.
Timeline Considered for Analysis:
- 2019: Base Year
- 2020: Estimated Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global engineering software market by the following segments:
- Product Type
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Engineering Software Industry Report
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?
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