CFD market: Key market research findings
- Immense usage of CFD solutions in the automotive sector
- Integration of CFD software with CAD
Technavio has added a new market research report on global computational fluid dynamics (CFD) market, to its software portfolio. The CFD market is expected to grow at a CAGR of around 14% between 2015 and 2019. EMEA accounted for the largest share of the global CFD market in 2014. Germany, France, UK, Italy, Spain and Russia are the major revenue contributors to the CFD market in EMEA, accounting for more than 77% of the CFD market in this region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for growth, as well as the segments with the maximum growth potential.
End-user industries such as automotive, aerospace and defence, and electrical and electronics accounted more than 50% market share of the global CFD market in 2014. Automotive is the largest contributor of the market, and is expected to generate around US $509 million by 2019. This segment is witnessing huge investments in R&D by the leading manufacturers like Volkswagen, Bentley and Hyundai, to develop new and innovative products.
“The high demand for CFD and CAD-embedded software presents an attractive opportunity for the leading market vendors of CFD. Its application typically enables engineers to reflect changes made in one application to directly update others. This eliminates the data transfer gap between CFD and CAD applications, thereby increasing the efficiency of the product development cycle,” says Navin Rajendra, Lead Analyst, IT Hardware, Software, Services, Technavio Research.
The global CFD market is dominated by five major vendors including ANSYS, CD-adapco, Dassault Systemes, Mentor Graphics, and Exa, who collectively hold more than 94% of the total market share. These major vendors are producing innovative CFD solutions in the market, owing to high R&D investments and the availability of capital. The high demand for low-cost CFD solutions has also led to the emergence of new small and regional vendors in the market.
A more detailed analysis is available in the Technavio report Global Computational Fluid Dynamics (CFD) Market 2015-2019.
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