DUBLIN--(BUSINESS WIRE)--Research and Markets(http://www.researchandmarkets.com/research/0acb1e/computational_flui) has announced the addition of the "Computational Fluid Dynamics Software Market in North America 2010-2014" report to their offering.
One of the key factors contributing to this market growth is innovation to create new market opportunities. The CFD Software market in North America has also been witnessing the development of specific purpose CFD software. However, the increasing threat of open source vendors could pose a challenge to the growth of this market.
TechNavio's report, the Computational Fluid Dynamics Software Market in North America 2010-2014, has been prepared based on an in-depth analysis of the market with inputs from industry experts. The report focuses on North American countries; it also covers the CFD Software market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Commenting on the report, an analyst from TechNavio's Engineering Software team said, Several SMEs prefer using CFD for its proven benefits. However, some SMEs are facing challenges in adopting CFD software such as high initial investment, lack of knowledge and expertise, and less return on investment over longer periods of time. Therefore, vendors have started a new trend of providing CFD software on a rental basis to encourage adoption.
According to the report, the need for faster product development is one of the major drivers for the market. Manufacturing companies need shorter product development cycles to compete in a competitive business environment. CFD software helps manufacturing companies reduce product analysis time which in turn reduces the overall product development time. Therefore, the increasing need for faster time-to-market of a product drives and increases the demand for CFD software.
The report also discusses other challenges such as the lack of understanding about CFD software among CFD customers.
Companies Mentioned:
- Ansys Inc.
- CD-adapco Ltd.
- Mentor Graphics Corporation
For more information visit http://www.researchandmarkets.com/research/0acb1e/computational_flui.