The global engineering design development software market was valued at more than USD 25 billion in 2016 and is expected to surpass USD 45 billion by 2021.
Procurement market intelligence analysts have announced its latest market research report on engineering design development software for the period 2017-2021. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the engineering design development software market during the forecast period. Some of the top vendors listed in this industry analysis include Siemens, Dassault Systemes, Autodesk, IBM, and Oracle.
In terms of geographical analysis, the Americas was the largest shareholder in the global market during 2016 with a market share of around 43%. North America, which has the highest market share, is expected to retain its lead for the next five years due to the introduction of cloud-based engineering software in this region.
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According to Angad Singh, a procurement specialist at Technavio for research on category spend intelligence, “Organizations are increasingly adopting mobile solutions that help their employees stay online and connected from construction sites or any remote areas. Such mobile solutions help architects, designers, and engineers who are involved in construction get immediate access to latest information related to project reports, animated 3D models, schedules, and cost calculations irrespective of their location.”
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The new procurement market intelligence report analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Increasing demand for automation from several end-user segments
Industries such as chemical, civil, and electrical are adopting process automation to enhance their product quality. By using engineering design development software, industries can not only achieve this but also reduce the overall time consumed. For instance, engineering design development software helps the chemical industry to automate their process by providing tools for combustion analysis, mapping and analyzing energy conversions, designing and analyzing heat transfer, and designing steam tables. This, in turn, helps them to improve process safety and plant availability and efficiently use their resources.
Increasing adoption of integrated solutions
Industries such as civil engineering must perform various engineering calculations to analyze complex structure that includes surfaces and solids and design engineering systems. Therefore, organizations increasingly prefer the use of integration solutions that can address and analyze design issues of their engineering system, which can help them effectively manage the system analysis and design processes, and reduce the overall time taken for the process.
Increase in use of portable devices
Organizations can easily install software without any major deployment issues and avail the benefits of software in short span through the adoption of various portable devices that support engineering design development software. As a result, the compatibility of the software used is important, prompting organizations to adopt engineering design development software for their engineering process and subsequently fostering the growth of the market.
A more detailed analysis is available in the procurement market intelligence report titled, ‘Global Engineering Design Development Software Market – Procurement Market Intelligence 2017’.
