Global Engineering Software (CAD, CAM, CAE, AEC, & EDA) Market to Reach $50.2 Billion by 2026
The global market for Engineering Software (CAD, CAM, CAE, AEC, & EDA) estimated at US$32.6 Billion in the year 2022, is projected to reach a revised size of US$50.2 Billion by 2026, growing at a CAGR of 9.7% over the analysis period.
Growth in the global market is driven by rising adoption across diverse industries and strong contribution from different software segments. The market is anticipated to witness tremendous growth owing to increasing implementation of integrated solutions and automation in several industries, from IT, energy and automotive to telecommunication, media and entertainment.
Market growth is also favored by rising proliferation of mobile devices like smart phones, laptops and tablets that have improve accessibility to these software solutions. Rising industrialization along with implementation of emerging technologies such as automation, AI, IoT and 3D printing is poised to present new growth opportunities.
The market will also be driven by the anticipated increased investments made by regional governments in promoting manufacturing sectors in their nations. Rapid automation of industrial operations and equipment will fuel demand for engineering software such as CAD, CAM and CAE software, among others.
Computer-Aided Engineering (CAE), one of the segments analyzed in the report, is projected to record a 9.1% CAGR and reach US$9.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Electronic Design Automation (EDA) segment is readjusted to a revised 9.8% CAGR for the next 7-year period.
CAE software, comprising finite element analysis (FEA), computational fluid dynamics (CFD), multibody dynamics (MDB), and optimization capabilities, facilitates in simulation, validation, and optimization of manufacturing tools and products. The Electronic Design Automation (EDA) software segment is expected to witness robust growth due to technological advances and increasing adoption among manufacturing units for better programming and control over programming aspects.
The U.S. Market is Estimated at $9.6 Billion in 2022, While China is Forecast to Reach $6.6 Billion by 2026
The Engineering Software (CAD, CAM, CAE, AEC, & EDA) market in the U.S. is estimated at US$9.6 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$6.6 Billion by the year 2026 trailing a CAGR of 12.2% over the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.1% and 9.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.7% CAGR. North America and European region represent key markets, due to increasing penetration of CAD and CAM software across diverse industries.
The rising implementation of cloud-based software solutions, introduction of new applications for smart phones and tablets; and growing acceptance of CAD software within the defense and aerospace industry for prototyping, enabling engineers to create, develop and refine aircraft designs are expected to bolster growth.
Growth in the Asia-Pacific region is driven by rapid industrialization along with investment in IT infrastructure. These engineering software solutions are anticipated to find increasing penetration in the manufacturing and construction sectors.
Architecture, Engineering & Construction (AEC) Segment to Reach $10.7 Billion by 2026
Architectural, Engineering & Construction (AEC) software is meant for the industry comprising the residential and non-residential structures and general infrastructure. The AEC tools help engineers, designers and contractors in supporting projects from an early stage design to construction.
The software and tools enable creation of high-performing and high-quality infrastructure and building designs resulting in optimized projects, maximized constructability and better project co-ordination. In the global Architecture, Engineering & Construction (AEC) segment, USA, Canada, Japan, China and Europe will drive the 9.3% CAGR estimated for this segment.
These regional markets accounting for a combined market size of US$5.3 Billion will reach a projected size of US$9.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.1 Billion by the year 2026.
What`s New for 2022?
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
