LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global finite element analysis (FEA) market to grow at a CAGR of over 13% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global FEA market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of FEA software only.
FEA helps to evaluate the functionality of a given product design before its prototype is produced. It is used in various manufacturing industries for estimation of structural strength and behavior, modeling, simulation, and design optimization. The use of FEA software helps end-users to produce quality products, reduce cost, provide better product design, and fasten the product development time. It is mainly used across the automotive, aerospace and defense, electrical and electronics, and industrial machinery industries.
The positive growth in the automotive and electrical and electronics industries is a major driver of the market growth. The increase in R&D investments by the US is a major reason for the growth of the market in the automotive industry. The market growth in the electrical and electronics industry was benefitted by the growth of the smartphone industry and related R&D activities.
Technavio ICT analysts highlight the following three factors that are contributing to the growth of the global FEA market:
- Need for FEA for an efficient product development cycle
- Increase in adoption of cloud-based FEA software
- Growth in smartphone industry
Need for FEA for an efficient product development cycle
FEA software vendors provide integrated FEA software with design and simulation software such as CAD, CAM, and CAE, which improves the overall efficiency of the new product development cycle. Customers prefer to adopt an integrated software solution as it reduces the product development cycle time and simultaneously increases its efficiency. Engineers and stakeholders can participate in product development and improve the collective product design.
This integration strategy improves the design optimization of complex and innovative products. Moreover, customers can achieve faster time to market by eliminating concerns of product recalls and multiple prototypes. Several end-users have realized the benefits of having an integrated FEA solution, which increases the demand for integrated FEA software.
Increase in adoption of cloud-based FEA software
Cloud computing provides a vast space for data storage, ease of access, flexibility, and security. Companies increasingly prefer to use cloud-based FEA software as it is cost effective. End-users do not have to pay license costs as they can access the software through the cloud. The deployment of FEA in cloud leads to a reduction in cost, faster distribution, low maintenance, and increase in scalability. FEA providers are continuously focusing on providing FEA through the cloud.
“Siemens PLM Software entered into a partnership with Rescale, a cloud-based simulation platform provider, to offer Siemens PLM Software NX Nastran through the cloud in 2014. NX Nastran is available on a pay-per-use model and can be used to perform several simulations such as noise, harshness, and vibration analysis,” according to Amrita Choudhury, one of the lead enterprise application research analysts from Technavio.
Growth in smartphone industry
The electrical and electronics industry is a major end-user of FEA software. The global electrical and electronics industry is exhibiting an increase in the production and demand for smartphones and tablets. Previously, end-users used to access the internet on their desktops. However, consumers now prefer to access the internet, without any time and location constraints. Consumers need web applications for many purposes, such as viewing multimedia content, browsing the internet, video calling, gaming, and social networking. These facilities are well supported by smartphones, with an enhanced HD viewing experience on a small screen and web surfing capabilities.
“Smartphone and tablet providers adopt simulation software to analyze several parameters of product development. For instance, ANSYS simulation software is used for analyzing the structural weakness of a tablet casing and effect of casing materials on thermal management, IC performance, and check for electronic signal performance. This has increased the demand for FEA software in the smartphone industry,” asserts Amrita.
Top-vendor offerings:
| Company | Products offered | |
| ANSYS | Structural Analysis Software | |
| Dassault Systèmes | SIMULIA | |
| MSC Software |
MSC Nastran
Sinda Actran Adams MSC Fatigue Dytran Digimat |
|
| Siemens PLM Software |
NX Nastran
LMS Samtech Femap Solid Edge Simulation Parasolid |
Source: Technavio
Browse Related Reports:
- Global Simulation and Analysis Software Market 2016-2020
- Global FEA Market in the Aerospace and Defense Industry 2015-2019
- FEA in the Automotive Sector: Global Market Analysis 2015-2019
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