[FURL=https://www.industryarc.com/Research/Finite-Element-Analysis-Market-Research-502582]Finite Element Analysis Market[/FURL] is forecast to reach $3.06 billion by 2025, at a CAGR of 9.1% during 2020-2025. Increasing requirement of finite element analysis for efficient product development cycle and its applications in production of next generation automobiles and aerospace technology will be a key trend for the growth of finite element analysis software market. The increase in R&D investments in manufacturing sector and rise in initiatives by several countries are the major factors for the growth of the market. In 2018, China government has launched an initiative called ‘Made in China 2025’ to promote industrial growth. Similarly India launched ‘Make in India’ initiative to promote the growth of manufacturing facilities. Such initiatives are likely to increase the demand for efficient manufacturing, thereby accelerating the demand for Finite element analysis Market.Key Takeaways
Asia-Pacific dominates the Finite element analysis market owing to rising production of automobiles and challenges on product design in manufacturing sector.
Design Optimization on the Finite Element analysis case is likely to register highest CAGR due to rising deployment of advanced technology in modern automobiles.
Finite element analysis in automotive industry is likely to grow at a highest CAGR owing to its applications such as reducing the product design time, operational costs, and also lesser marketing time.
Major companies in Finite element analysis market include ANSYS, Dassault Systems, MSC Software, Siemens PLM Software, Altair, Aspen Technology, Autodesk, CD-adapco, COMSOL Multiphysics, ESI Group among others.
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Application - Segment Analysis
Finite element analysis in automotive industry is likely to grow at a highest CAGR of 7.5% in the forecast period. Increased adoption of FEA to enables a reduction in product design time, operational costs, and also lesser marketing time. Several automobile manufacturers use applications of Finite element analysis. For Instance Toyota Motors uses Opera FEA of Chelton to simulate Prius electric motors use in Prius hybrid vehicles.
Drivers –Finite Element Analysis Market
Growing demand for simulation software in finite Element Analysis
Increasing integration in manufacturing sector
Market Landscape: The market of Finite Element Analysis industry outlook has been consolidated by the top five players accounting for 55% of the market share. Finite Element Analysis market top 10 companies include ANSYS, Dassault Systems, MSC Software, Siemens PLM Software, Altair, Aspen Technology, Autodesk, CD-adapco, COMSOL Multiphysics, ESI Group among others
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