North America finite element analysis market: 9% CAGR growth forecast between 2012-16
Finite Element Analysis Market in North America 2012-2016 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-26 08:43:01
The North America Finite Element Analysis market is to grow at a CAGR of 8.50 percent over the period 2012-2016. One of the key factors contributing to this market growth is the need to reduce overall time-to-market. The Finite Element Analysis market in North America has also been witnessing the emergence of cloud-based FEA software. However, the easy availability of open source FEA software could pose a challenge to the growth of this market.
The emergence of cloud-based FEA software is one of the emerging trends in theFEA Software market in North America. Cloud-based FEA software provides high storage, scalability, and flexibility to end-users. Cloud-based FEAis offered on a pay-per-use model, and hence can easily be made available to cost-sensitive end-users. Moreover it provides flexibility to the end-user to access the FEA software from anywhere at any time. Hence, severalFEA vendors in North America are developing the cloud-based FEA model to meet the requirements of end-users.
The need to reduce overall time-to-market is one of the major drivers in the FEA market in North America. The effective deployment of FEA software enables organizations to reduce lead time by reducing the number of tests and prototypes.
Easy availability of open source FEA software is one of the major challenges in the FEA market in North America. Manyorganizations in North America opt for opensource FEA software as it provides various benefits in terms of affordability and easy availability compared to commercial FEA software.
The key vendors dominating this market space are Ansys Inc., Dassault Systemes S.A., LMS International NV, and MSC Software Corp.
Other vendors are Altair Engineering Inc., Aspen Tech Inc., Engineering Systems Inc., and Nei Software Inc.
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