London, 05 November 2014: TechNavio, the independent tech-focused global research firm, has published a report on the FEA Software Market in North America 2014-2018, which is expected to grow at a CAGR of 8.62 percent during 2013-2018.
FEA software is widely used across industries in product design, design engineering, manufacturing, and distribution. The use of FEA software enables cost reduction, product quality improvement, environment protection, design efficiency, and reduction in product development time.
“Most discrete manufacturing industries rely on FEA tools for effective and efficient product development,” says Faisal Ghaus, Vice President of TechNavio.
“The market is experiencing huge demand from these discrete industries, which are expected to retain their dominant position in the FEA market in North America during the forecast period.”
Key Market Drivers
- Competitive Pressure to Provide Product Differentiation
- Increased Demand from Discrete Industries
- Increased Adoption of Virtual Product Development Environment
- Reduction in Product Design Time
- Need to Develop Quality Products at Affordable Prices
Key Market Trends
- Use of FEA Software in Creating Special Effects in Feature Films
- Increased Adoption of Integrated FEA Software
- Increased Demand for FEA Software in Canada
- Increased Demand for Cloud-based FEA Software
Key Market Vendors
- Ansys Inc.
- Dassault Systèmes SA
- MSC Software Corp.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
