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Global CFD market: 17.9% CAGR expected between 2012-16
Global CFD Market in the Automotive Industry 2012-2016 - a new market research report on 2014-04-17 06:51:03
The Global Computational Fluid Dynamics (CFD) market in the Automotive industry to grow at a CAGR of 17.88 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing need to develop superior and competitive products. The Global CFD market in the Automotive industry has also been witnessing an increasing demand for integrated software. However, the increasing popularity of open-source CFD software could pose a challenge to the growth of this market.
Some of the large PLM and CFD vendors have started providing integrated CFD software with several other PLM tools to improve both the efficiency and the effectiveness of product development cycle. Many customers prefer this integrated software as it reduces the product development cycle time and increases its efficiency simultaneously. For instance, vendors are developing integrated CFD software with CAD software. The integration of CFD and CAD solutions enables engineers to work on a single geometry, where changes made in one application would be directly updated in the other. This eliminates the data transfer gap between CFD and CAD applications, thereby increasing the efficiency of the product development cycle.
The increasing need for the development of superior and competitive products is one of the major drivers of the Global CFD market in the Automotive industry. In a highly competitive world, automakers consider it very important to retain their consumers by developing superior and competitive products. Thus, CFD simulation plays a major role in the Automotive industry in developing superior quality product.
The increasing popularity of open-source communities is one of the major challenges impeding the growth of the market. Many commercial users are adopting open-source CFD software rather than investing large amounts of money in commercial licenses.
The key vendors dominating this space include Ansys Inc., CD-adapco Ltd., EXA Corp., and Mentor Graphics Corp.
The other vendors mentioned are AspenTech Ltd., Bentley Systems Inc., Blue Ridge Numerics Inc., Computational Engineering International (CEI) Inc., COMSOL Inc., Dassault Systèmes SA, Electro Source Inc., Entecho Pty Ltd., ESI Group SA, Flow Science Inc., Future Facilities Ltd., No Limits Software Inc., Numeca International Inc., Purkay Laboratories, TotalCAE, and Visual Collaboration Technologies Inc.
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