Overview and Scope
Finite element analysis (FEA) software is a computerized tool that uses the finite element method (FEM) to predict how a product or object will react to real-world forces, such as vibration, heat, fluid flow, and other physical effects. It operates by decomposing an object into a huge number of constituent parts, forecasting the behavior of each component using mathematical formulas, and then adding up the individual behaviors to forecast the behavior of the component as a whole.
Sizing and Forecast
The finite element analysis (fea) software market size has grown rapidly in recent years. It will grow from $6.23 billion in 2023 to $7.01 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The growth in the historic period can be attributed to smartphone and tablet adoption, tv and monitor display evolution, increased investment in r&d, enhanced display quality, consumer demand for innovation.
The finite element analysis (fea) software market size is expected to see rapid growth in the next few years. It will grow to $11.16 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be attributed to adoption in automotive displays, commercialization of foldable devices, entry into mass production, expansion into new applications, rising popularity in gaming devices. Major trends in the forecast period include wearable displays for ar/vr, development of rollable displays, enhanced durability in foldable devices, flexible displays in smart home devices, technology innovations.
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Segmentation & Regional Insights
The finite element analysis (fea) software market covered in this report is segmented –
1) By Software Type: Structural Analysis, Computational Fluid Dynamics (CFD), Electromagnetic Analysis, Thermal Analysis, Multi-physics Analysis
2) By Deployment: On-premises, Cloud-based
3) By Application: Automotive Industry, Aerospace And Defense Industry, Electrical And Electronics Industry, Civil Engineering And Construction, Industrial Machinery, Medical Devices, Energy And Power, Other Applications
North America was the largest region in the finite element analysis (FEA) software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the finite element analysis (fea) software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in liquid fuel production is expected to propel the growth of the finite element analysis software market going forward. Liquid fuel production involves the extraction, refining, and utilization of liquid substances, such as gasoline and diesel, for energy. Finite element analysis (FEA) software aids in optimizing structural integrity, heat transfer, and fluid dynamics in liquid fuel production equipment, facilitating efficient and safe processes while minimizing costs and environmental impact. For instance, in May 2022, according to the US Energy Information Administration, a US-based government organization, the United Kingdom produced 934,000 barrels per day (b/d) in total liquid fuels in 2021, and crude oil production in the UK increased to 793 barrels/per day in 2022. Therefore, the increase in liquid fuel production is driving the growth of the finite element analysis software market.
Key Industry Players
Major companies operating in the finite element analysis (fea) software market report are Siemens AG (Siemens PLM Software Inc.), IBM Corporation, Dassault Systemes, Hexagon AB, Keysight Technologies, Synopsys Inc., Autodesk Inc., ANSYS Inc., PTC Inc., Bently Systems Inc., Altair Engineering Inc., Aspen Technology, MSC Software Corporation, ESI Group, COMSOL AB, CD-ADAPCO Group, SimuTech Group, Flownex, NEi Software, NUMECA International, SimScale GmbH, BETA CAE Systems, Flow Science, ADINA R&D, Inc., Vanderplaats R&D Inc
The finite element analysis (fea) software market report table of contents includes:
1. Executive Summary
2. Finite Element Analysis (FEA) Software Market Characteristics
3. Finite Element Analysis (FEA) Software Market Trends And Strategies
4. Finite Element Analysis (FEA) Software Market – Macro Economic Scenario
5. Global Finite Element Analysis (FEA) Software Market Size and Growth
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31. Finite Element Analysis (FEA) Software Market Other Major And Innovative Companies
32. Global Finite Element Analysis (FEA) Software Market Competitive Benchmarking
33. Global Finite Element Analysis (FEA) Software Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Finite Element Analysis (FEA) Software Market
35. Finite Element Analysis (FEA) Software Market Future Outlook and Potential Analysis
36.Appendix
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