2014-02-13 04:37:04 - Global Finite Element Analysis Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global FEA market is expected to post a CAGR of 9.72 percent during the period 2012-2016. The market is driven by many growth factors; one is the increasing demand for FEA software from developing countries. Currently, the market is experiencing a huge potential from developing countries such as China, India, Brazil, and Korea, creating more opportunities for the vendors. The market is also experiencing a huge demand from discrete industries across the globe.
In terms of revenue, North America accounted for the largest share in the Global FEA market in 2012, and was followed by the APAC region. The APAC region is one of the fastest growing geographies in the global market due to the emergence of several manufacturing industries
in the region.
Due to the commercialization of their products, a few companies currently have a significant presence in the Global FEA market. Many pure-play companies in this market are either being acquired or being approached for acquisition by larger corporations for their technological capabilities. Some of the key vendors mentioned in the Global FEA Market 2012-2016 report include Ansys Inc., Dassault Systemes SA, LMS International NV, and MSC Software Corp. Other prominent vendors in the Global FEA market include Altair Engineering Inc., AspenTech Ltd., Bentley Systems Inc., Blue Ridge Numerics Inc. (Autodesk), Computational Engineering International Inc., Engineering Systems Inc., ESI Group, Flow Science Inc., Mentor Graphics Corp., NEi Software Inc., and Numeca International SA.
The Global FEA market is witnessing a trend toward the development of cloud-based FEA solutions from the market vendors due to the benefits of cloud computing such as a 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 SystÃ¨mes SA, and NEi Software are some of the key vendors in the Global FEA market that are offering cloud-based FEA software.
The Global FEA market relies heavily on the Global Discrete Manufacturing industry for growth and development. The Automotive, Electrical and Electronics, and Aerospace and Defense industries are some of the key leading discrete industries that drive the Global FEA market. Most of the discrete manufacturing industries rely on FEA software for effective and efficient product development. Therefore, the market is experiencing high demand from discrete industries, and the discrete industries are expected to retain their dominant position in the Global FEA market in the forecast period.
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.
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