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Engineering Software Market Trends

  • Report ID: GMI6791
  • Published Date: Sep 2023
  • Report Format: PDF

Engineering Software Market Trends

The integration of AI into engineering software is catalyzing lucrative growth in the market. AI enhances productivity by automating tasks, optimizing designs, and analyzing vast datasets. This streamlines engineering processes, reduces errors, and accelerates product development. For instance, in September 2023, SimScale GmbH introduced its fully integrated, cloud-native AI-powered physics prediction feature. SimScale collaborated with NAVASTO, a top A.I. developer in accelerated engineering, to seamlessly incorporate its solutions into the SimScale platform. This integration empowers engineers to engage in real-time design by concurrently leveraging physics & AI-derived analysis results. With industries increasingly embracing AI-driven solutions, the demand for advanced engineering software continues to surge, driving substantial market expansion & innovations.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The engineering software industry value was USD 28.9 billion in 2022 and is projected to register over 18% CAGR between 2023 and 2032.

The software segment accounted for around USD 23.5 billion in market revenue in 2022 and is expected to grow substantially through 2032 owing to the constant improvements and innovations in manufacturing software.

North America engineering software market held a major share of over 30% in 2022 and will grow through 2032 owing to the acquisitions by companies aimed at portfolio enhancement in the U.S.

ANSYS, Inc., Autodesk, Inc., Dassault Systèmes, Inc., Siemens, PTC, Hexagon AB, and Synopsys.

Engineering Software Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 19
  • Tables & Figures: 357
  • Countries covered: 21
  • Pages: 230
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