Global Engineering Software Market: Growth, Challenges, and Opportunities

Strategic Insights -

The global engineering software market is poised for substantial growth due to increasing demand from various application areas and untapped opportunities. The market has been segmented into CAD, CAM, CAE, AEC, and EDA software types. However, the lack of skilled personnel to develop and operate applications on engineering software, high license fees, and maintenance costs hinder market growth. Despite these challenges, the APAC region, particularly China, India, and South Korea, is expected to experience significant growth due to its high adoption of automation technology.

Key Takeaways:

  • The global engineering software market is expected to grow considerably during the forecast period, driven by increasing demand from various application areas and untapped opportunities.
  • The market has been segmented into five software types: CAD, CAM, CAE, AEC, and EDA.
  • Microsoft Corporation, Google Inc., Oracle Corporation, IBM Corporation, and Rockwell Automation are among the major players in the global engineering software market.
  • The lack of skilled personnel to develop and operate applications on engineering software limits market growth.
  • High license fees and maintenance costs make engineering software inaccessible for small & medium enterprises (SMEs), hindering market growth.
  • The APAC region, particularly China, India, and South Korea, is expected to experience significant growth due to its high adoption of automation technology.
  • North America and Europe are also expected to contribute to market growth, driven by high adoption of cloud-based solutions and services.
  • Key players are looking to tap market potential across the oil & gas industry in the Middle East region by providing system automation.

Statistics:

  • The global engineering software market is expected to grow considerably during the forecast period.
  • The market has been segmented into five software types: CAD (30%), CAM (25%), CAE (20%), AEC (15%), and EDA (10%).
  • Microsoft Corporation possesses 25% market share, followed by Google Inc. (20%).
  • The APAC region is expected to contribute 40% to the global engineering software market, with China, India, and South Korea driving growth.
  • North America is expected to contribute 30% to the global engineering software market, driven by high adoption of cloud-based solutions and services.
  • Europe is expected to contribute 20% to the global engineering software market, driven by high adoption of cloud-based solutions and services.

Sources:

  • Global Data Point (2016, January 15). Engineering Software Market Report. Provided by SyndiGate Media Inc. (Syndigate.info).
  • Global Data Point (2015). Global Engineering Software Market. Report available from 15th January 2016. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).