This research report outlines the growth prospects and market forecasts for CAE in India until 2019. It provides the segmentations by product (CFD and FEA), and end-users (automotive industry, electrical and electronics industry, industrial machinery, and aerospace and defense). The leading vendors analyzed by this report are ANSYS, CD-adapco, Dassault, and MSC software.
Technavio’s market research analysts estimate the CAE market in India to grow at a CAGR of more than 15% between 2015 and 2019. Rise in the outsourcing of engineering activities in the country due to low-cost skilled labor is boosting the growth of computer-aided engineering (CAE) market. Automotive, electrical and electronics, industrial machinery, and aerospace and defense industries are the major revenue contributing sectors to this market. Moreover, the market will witness new demand for CAE from industries such as construction, material and chemical processing, and energy.
The new market research report from Technavio provides a breakdown and analysis of the computer-aided engineering segments by technology.
“Companies are increasingly adopting cloud-based CAE software because of its cost-effectiveness. Cloud computing provides companies with vast space for data storage, ease of access, flexibility, and security. Also, the CAE providers are continuously focusing on providing FEA through the cloud. Several core and large vendors are offering and developing CAE software specific to end-user industry requirements,” says Navin Rajendra, Lead Analyst, ICT, Technavio Research.
The CEA market in the automotive industry in India accounts for around 32% of the overall market share. This sector accounts for the highest number of R&D facilities in India, most of which are located in cities such as Pune and Chennai. Also, the increase in the growth of the automotive industry has led to wide adoption of CFA and FEA.
The leading vendors in the CAE market in India include ANSYS, CD-adapco, Dassault Systèmes, and MSC Software. The leading players in the market are looking to capitalize on the growing demand for application specific CAEs. Many core and large vendors are focusing on the development of CAE software, specific to the end-user industries and applications. The availability of application specific CAE in the market is expected to drive the market demand in India over the next four years.
A more detailed analysis is available in the Technavio report, CAE Market in India: Research Report 2015-2019.
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