A recently published report by Technavio, specialists in emerging technologies market research, reveals that the Computer Aided Engineering (CAE) market in India is expected to grow at a CAGR of 23 percent over the period 2010“2014. The report, which focuses on India exclusively, indicates that the market is being driven by the demand coming from the Automotive, Aerospace and Manufacturing sectors.
According to Technavio™s industry analyst, The Automotive, Aerospace, and the Manufacturing industries are the main end-users of CAE in India. There is huge competition among companies in these industries to provide low-cost, high-quality products. Also, the need for other related product development has increased the growth of several captive and engineering service providers. This, therefore, has increased the adoption of the CAE software solutions within these sectors to effectively deliver quality products in minimal time.
The report also highlights that the increasing number of counterfeit products is hindering the growth of this market. However, a growing need for quality solutions that can enable cost savings is expected to keep driving the market. This market is also marked by increasing demand from micro, small, and medium-scale enterprises sectors. These are just some of the important findings presented in the report that will enable companies to fully understand the potential in this market and formulate their own strategies.
Technavio™s report, Computer Aided Engineering Market in India 2010“2014, is based on extensive research conducted with industry experts, vendors, and end-users. It examines the key trends, drivers, and challenges impacting the evolution of this market. The report also contains incisive insights and SWOT analyses regarding the key vendors in this market.
Companies mentioned in this report include Ansys Inc., Dassault Syst¨mes, MSC Software Corp., and Altair Engineering Inc.
For further information and to obtain your copy of this report, please visit https://www.technavio.com/content/computer-aided-design-software-market-i…
Automotive Industry Driving Demand for CAE in India
