TechNavio today published its report Computational Fluid Dynamics (CFD) Software Market in North America 2010“2014. The report aims to aid decision-makers™ understanding of the current and future trends impacting this market.
Commenting on the report, an analyst from TechNavio™s Engineering Software team said, Several SMEs prefer using CFD for its proven benefits. However, some SMEs are facing challenges in adopting CFD software such as high initial investment, lack of knowledge and expertise, and less return on investment over longer periods of time. Therefore, vendors have started a new trend of providing CFD software on a rental basis to encourage adoption.
According to the report, the need for faster product development is one of the major drivers for the market. Manufacturing companies need shorter product development cycles to compete in a competitive business environment. CFD software helps manufacturing companies reduce product analysis time which in turn reduces the overall product development time. Therefore, the increasing need for faster time-to-market of a product drives and increases the demand for CFD software.
The report also discusses other challenges such as the lack of understanding about CFD software among CFD customers.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key players.
TechNavio, the market research platform of Infiniti Research Ltd, publishes periodic reports on niche and emerging technologies. For further information, please visit https://www.technavio.com/content/computational-fluid-dynamics-software-marke…
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TechNavio Announces the Publication of its Report – CFD Software Market in North America 2010-2014
