Increasing use of the IoT, AL and ML to improved efficiency and to enhance the scope of Computer-aided engineering.

The global computer-aided engineering (CAE) market is anticipated to grow at a significant CAGR of 12.7% during the forecast period (2024-2031).The growth of the global CAE market is driven by the integration of technologies such as IoT, machine learning (ML) and artificial intelligence (AI). With the help of these features, engineers can now work with CAE software in a whole new way, leading to more effective simulations and analyses. Workflows are streamlined and productivity is increased by AI and ML algorithms, which also automatically optimizes designs, forecast performance outcomes, and spot trends in big datasets. For instance, in October 2023, Altair Releases Altair HyperWorks 2023in CAE environment.This update to Altair’s design and simulation platform signifies a transformative leap in AI technology.It has an integrated solution that streamlines workflows, enhances user experiences, and enables innovation.

Browse the full report description of “Computer-Aided Engineering (CAE) Market Size, Share & Trends Analysis Report by Type (Software, Services), by Deployment Type (On-premise, Cloud-based) by End-user Industry (Automotive, Defense & Aerospace, Electronics, Medical Devices, Industrial Equipment, and Other) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/computer-aided-engineering-market

Furthermore, in February 2024, Hexagon introduces HxGN EAM Databridge Pro, a module for enhanced data integration. By bringing new tools for managing endpoint connections, creating data pipelines and offering improved visibility for effective troubleshooting and debugging, Databridge Pro enhanced the data integration capabilities.

Cloud-based CAE solutions has gained a significant growth due the flexibility, lower hardware needs, and remote collaboration features.Cloud-based solutions helps to gain acceptance by removing geographical obstacles. It also helps in facilitating seamless cooperation amongst worldwide teams. For instance, in February 2024, Cadence Design Systems, Inc. and Dassault Systèmes announced integration of the AI-driven OrCAD X and Allegro X extends 3DEXPERIENCE Works Portfolio. The cloud-enabled integration offers joint customers an easy-to-use, end-to-end solution for next-generation product development, enabling an up-to-5X reduction in design turnaround time.

Market Coverage

• The market number available for – 2023-2031

• Base year- 2023

• Forecast period- 2024-2031

• Segment Covered- 

o By Type

o By Deployment Model

o By End-user Industry

• Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

• Competitive Landscape- ANSYS Inc., Siemens AG, Autodesk Inc.,  Hexagon AB and ESL Group among others.

Key questions addressed by the report.

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Computer-aided Engineering Market Report Segment

By Type

• Software
• Service

By Deployment Model

• On-Premise
• Cloud based

By End-user Industry

• Automotive Industry
• Defense & Aerospace Industry
• Electronics Industry
• Medical Devices
• Industrial Equipment
• Other End Uses

Global Computer-aided Engineering Market Report Segment by Region

North America

• United States

• Canada

Europe

• UK

• Germany

• Italy

• Spain

• France

• Rest of Europe 

Asia-Pacific

• China

• India

• Japan

• South Korea

• Rest of Asia-Pacific 

Rest of the World

• Latin America 

• Middle East & Africa

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