Technavio’s market research analysts estimate the global FEA market in the automotive sector to grow at a CAGR of around 13% between 2015 and 2019. Increasing use of the FEA software in the automotive sector includes design optimization, mechatronics, vehicle dynamics, nonlinear and contact modelling and thermal performance analysis. The Americas dominate the global FEA market in the automotive sector, closely followed by APAC and EMEA. The FEA market in the automotive industry in the Americas is growing at a CAGR of 13%, thanks to the increased adoption of FEA by the US.
The new market research report from Technavio provides a breakdown and analysis of the FEA segments by technology.
“The FEA software vendors are offering integrated FEA software with design and simulation software such as CAD, CAM, and CAE. Customers prefer such an integrated software solution as it minimizes the product development cycle time and simultaneously increases efficiency of automobiles. Such an integration strategy also optimizes the design of complex and innovative products, and helps customers in availing the products more quickly as the software facilitates a faster time-to-market,” says Navin Rajendra, Lead Analyst, ICT, Technavio Research.
The global FEA market in the automotive industry generates a majority of the revenues from Americas due to the high adoption of FEA in the US. Various automotive companies in the Americas are hugely investing in R&D by procuring new technologies, hardware, software (including FEA), and services for product design and development. The FEA market in the automotive industry in the Americas is expected to grow at a CAGR of around 12% over the next four years.
The key vendors in the global FEA market in the automotive sector include ANSYS, Dassault Systèmes, MSC Software, and Siemens PLM Software. Competition is intense in this market due to the presence of various international and regional vendors. The need to expand and enhance existing FEA offerings, market vendors are increasingly taking the M&A route. With the growing need to develop new automobile designs, this market trend is expected to continue during the forecast period.
A more detailed analysis is available in the Technavio report, FEA in the Automotive Sector: Global Market Analysis 2015-2019.
We can customize reports by other regions and specific segments upon request.
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