Computer Aided Engineering (CAE) Market to grow by $ 3.57 billion |Industry COVID-19 Impact Analysis, Market Trends and Growth 2025| Technavio
NEW YORK: Technavio has been monitoring the computer aided engineering (CAE) market and it is poised to grow by $ 3.57 bn during 2021-2025, progressing at a CAGR of over 9% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have at Par impact on the computer aided engineering (CAE) market.
- What are the major trends in the market?
Increasing requirements for large-scale project management is a major trend driving the growth of the market.
- At what rate is the market projected to grow?
The market will accelerate at a CAGR of over 9% and the incremental growth of the market is anticipated to be $ 3.57 bn.
- Who are the top players in the market?
Altair Engineering Inc., ANSYS Inc., Dassault Systemes SE, ESI Group, Hexagon AB, NUMECA International, PTC Therapeutics Inc., Siemens AG, Simerics Inc., and Symscape, are some of the major market participants.
- What is the key market driver?
The growth of the smartphone industry is one of the major factors driving the market.
- How big is the APAC market?
The APAC region will contribute to 39% of the market share.