What Has Been The Evolution of the Finite Element Analysis FEA Software Market in Recent Years?
The finite element analysis fea software market has seen considerable growth due to a variety of factors.
• The market size of the finite element analysis (FEA) software has seen a swift expansion recently. It is projected to escalate from $7.01 billion in 2024 to $7.87 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 12.3%.
The surge during the historical period is attributable to factors such as adoption of smartphones and tablets, progression in TV and monitor display technology, boosted investment in research and development, improved display quality, and the consumer's inclination for innovation.
What Are the Future Growth Projections for the Finite Element Analysis FEA Software Market?
The finite element analysis fea software market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market for finite element analysis (FEA) software is anticipated to experience an accelerated expansion. The projected growth insinuates that the market worth will escalate to $12.56 billion by 2029 with a compound annual growth rate (CAGR) of 12.4%.
The surge in the forecast period is attributable to its increased use in automotive displays, the commercial introduction of foldable devices, commencement of mass production, diversification into new applications, and its growing appeal in gaming devices. The forecast period will be marked by major trends such as wearable displays for AR/VR, creation of rollable displays, improved resilience in foldable devices, flexible displays in smart home appliances, along with advancements in technology.
What Are The Core Factors Supporting Growth In The Finite Element Analysis FEA Software Market?
The expansion of liquid fuel production is slated to boost the development of the finite element analysis software market. The production of liquid fuel encompasses the extraction, refinement, and usage of liquefied substances, such as diesel and gasoline, for power generation purposes. The use of Finite element analysis (FEA) software is crucial for maximizing structural integrity, facilitating heat transfer, and managing fluid dynamics in machinery used for liquid fuel production, ultimately leading to more effective, cost-efficient, and environmentally friendly operations. In May 2022, reports from the US Energy Information Administration, a government entity from the United States, indicated that the United Kingdom manufactured 934,000 barrels per day (b/d) of total liquid fuels in 2021, while crude oil production in the UK surged to 793 barrels per day in 2022. Consequently, this growth in liquid fuel production is crucial in driving the expansion of the finite element analysis software market.
What Are The Major Segments Within The Global Finite Element Analysis FEA Software Market?
The finite element analysis (FEA) software market covered in this report is segmented –
1) By Software Type: Structural Analysis, Computational Fluid Dynamics (CFD), Electromagnetic Analysis, Thermal Analysis, Multi-physics Analysis
2) By Deployment: On-premises, Cloud-Based
3) By Application: Automotive Industry, Aerospace And Defense Industry, Electrical And Electronics Industry, Civil Engineering And Construction, Industrial Machinery, Medical Devices, Energy And Power, Other Applications
Subsegments:
1) By Structural Analysis: Static Analysis, Dynamic Analysis, Nonlinear Analysis
2) By Computational Fluid Dynamics (CFD): Incompressible Flow Analysis, Compressible Flow Analysis, Heat Transfer Analysis
3) By Electromagnetic Analysis: Static Electromagnetic Analysis, Time-Varying Electromagnetic Analysis
4) By Thermal Analysis: Steady-State Thermal Analysis, Transient Thermal Analysis
5) By Multi-Physics Analysis: Coupled Field Analysis, Fluid-Structure Interaction (FSI)
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What Emerging Trends Are Influencing The Growth Of The Finite Element Analysis FEA Software Market?
Leading corporations in the finite element analysis software market are revolutionizing their offerings with solutions like finite element analysis solvers. Essentially, a Finite Element Analysis (FEA) solver stands as the central computational mechanism within FEA software, executing intricate calculations required for scrutinizing a model's behavior under different circumstances. A case in point, Altair Engineering Inc., an American software firm, introduced OpenRadioss in April 2023. OpenRadioss is an open-source, freely available FEA software designed for the simulation of dynamic events such as impacts, crashes, and high-pressure loading. It largely employs the same input format and source code as its commercial version - this facilitates an easy switchover for users familiar with Radioss.
Who Are the Key Players In The Finite Element Analysis FEA Software Market?
Major companies operating in the finite element analysis (fea) software market report are:
• Siemens AG (Siemens PLM Software Inc.)
• IBM Corporation
• Dassault Systemes
• Hexagon AB
• Keysight Technologies
• Synopsys Inc.
• Autodesk Inc.
• ANSYS Inc.
• PTC Inc.
• Bently Systems Inc.
• Altair Engineering Inc.
• Aspen Technology
• MSC Software Corporation
• ESI Group
• COMSOL AB
• CD-ADAPCO Group
• SimuTech Group
• Flownex
• NEi Software
• NUMECA International
• SimScale GmbH
• BETA CAE Systems
• Flow Science
• ADINA R&DInc.
• Vanderplaats R&D Inc
What Is The Most Dominant Region In The Finite Element Analysis FEA Software Market?
North America was the largest region in the finite element analysis (FEA) software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the finite element analysis (fea) software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
