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Global automotive FEA market: 13.1% CAGR growth forecast between 2012-16

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Global FEA Market in Automotive Industry 2012-2016 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-03-26 08:02:03
The Global FEA market in the Automotive industry is to grow at a CAGR of 13.11 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand from developing countries. The Global FEA market in the Automotive industry has also been witnessing the increasing demand for integrated FEA software. However, the increasing popularity of open-source FEA software could pose a challenge to the growth of this market.

The Global FEA market is witnessing a trend toward the development of cloud-based FEA solutions from market vendors due to the benefits of cloud computing, such as vast space for data storage, ease of access, flexibility, and security. Cloud computing technology gives a wide range of advantages to many SMEs by offering the solution on demand in a cost-effective manner. By hosting FEA over the cloud, end-users can significantly reduce their operating costs (server costs, maintenance costs, and physical storage costs), and can improve the efficiency of the product development cycle. Autodesk Inc., Dassault Systèmes SA, and NEi Software are some of the key vendors in the Global FEA market that are offering cloud-based FEA software.

One of the major growth drivers in the market is increasing demand from developing countries. The market potential is moving toward growing economies such as China, India, Brazil, and Korea.

One of the major challenges in the market is the increasing popularity of open-source FEA software. Many cost-driven customers and SMEs prefer open-source FEA software rather than investing large amounts of money in commercial FEA software.

The key vendors dominating this market space are Dassault Systèmes SA, MSC Software Corp., Ansys Inc., and LMS International NV.

Other vendors are NEi Software Inc., Aspen Tech Ltd., Altair Engineering Inc., Engineering Systems Inc., Mentor Graphics, Siemens PLM Software Inc., and Autodesk Inc.

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