London, 01 October 2014: TechNavio, the independent tech-focused global research firm, has published a report on the FEA Software Market in the APAC Region 2014-2018, which is expected to grow at a CAGR of 12.36 percent during the forecast period 2014-2018.
FEA is software used in engineering that aims to evaluate the functionality of a product design before its prototypes are produced. It is used in manufacturing industries for the estimation of structural strength and behavior, modeling, simulation, and design optimization. It enables end-users to produce quality products, reduce costs, improve product design, and speed up product development time.
“An increase in the growth of the Automotive and Electrical and Electronics industries in India has had a significant positive impact on demand for FEA software,” says Faisal Ghaus, Vice President of TechNavio.
“The presence of a large number of manufacturers in India has contributed to the increase in demand for FEA software.”
Key Market Drivers
- Increase in Adoption of Virtual Product Development Environment
- Reduction in Product Design Time
- Need to Develop Quality Products and Reduce Costs
Key Market Trends
- Use of FEA Software in Creating Special Effects in Feature Films
- Increased Demand for FEA Software in India
- Increased Demand for Cloud-based FEA Software
Key Market Vendors
- Ansys Inc.
- Dassault Systemes 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%…
