Product Code: GVR-4-68040-122-3
Engineering Software Market Growth & Trends:
The global engineering software market size is anticipated to reach USD 125.5 billion by 2030, expanding at a CAGR of 18.8% from 2023 to 2030, according to a new report by Grand View Research, Inc.. The growth of the market for engineering software is driven by increasing demand for advanced tools to enhance productivity, automation, and digitization across various industries. These technological advancements have created a number of engineering software with heightened capabilities, offering increased power and versatility.
The robust growth of the engineering software industry is fueled by several factors, including the need for manufacturers to cut product development expenses and accelerate timelines. Outsourcing engineering tasks and adopting computer-aided simulations for testing further contribute to the market's expansion. Industries globally acknowledge the value of advanced engineering software, automation, and digitization, enhancing operational efficiency and precision. Integrating these solutions reduces errors, optimizes resource utilization, and saves costs across the product lifecycle.
Technological advancements, such as AI-driven design optimization, propel market growth by attracting new users and facilitating innovative solutions. As companies seek efficiency and innovation, engineering software is poised to reshape product development processes and drive cross-industry collaboration. Moreover, as industries like aerospace, automotive, and architecture progress, design intricacy has notably escalated. This evolution has translated into more intricate engineering projects, necessitating the application of sophisticated software tools capable of effectively managing and analyzing substantial datasets.
Engineering software empowers engineers to simulate and model intricate systems virtually, perform virtual tests, and scrutinize data for informed decision-making. As engineering projects become more complex, the anticipated growth in demand aligns with the need for advanced software solutions. A surge in construction activities in developing countries such as China, India, South Africa, Brazil, and South Korea, driven by urbanization and infrastructure development, is a significant catalyst for the market growth for engineering software. For instance, as per data provided by India's National Investment Promotion & Facilitation Agency, the country's construction sector is expected to reach a market valuation of USD 1.4 trillion by 2025.
Additionally, escalating demand for energy-efficient buildings and the adoption of rapid construction techniques are instrumental factors driving the expansion of the engineering software segment within the construction sector. Engineering software is essential in creating designs that adhere to sustainable and energy-efficient principles, meeting the growing need for environment-conscious structures. Additionally, as construction timelines shorten with the integration of rapid construction methods, engineering software aids in managing complex projects, optimizing designs for efficiency, and ensuring seamless collaboration among stakeholders. This synergy between engineering software, sustainable construction practices, and swift construction methodologies contributes significantly to market growth.
The market is competitive and is populated with several key players. Prominent companies are adopting strategies such as partnerships and collaborations to gain a competitive edge. For instance, in February 2023, Ansys, Inc. strengthened its strategic partnership with Microsoft to expedite virtual product design by providing wider cloud-based access to Ansys Inc.'s simulation solutions and computer-aided engineering (CAE) tools. Building upon this collaboration, the company is working on an offering to empower customers to launch Ansys products using Microsoft Azure enrollment while also facilitating smoother integration with third-party tools.
Engineering Software Market Report Highlights:
- The cloud deployment model segment is expected to witness the highest CAGR of 20.1% over the projected period in the market
- The software segment dominated the market in 2022, driven by the increasing recognition of the advantages of digital solutions in manufacturing, offering streamlined operations, efficient resource management, improved decision-making through data analytics, enhanced planning, and increased productivity and profitability
- North America dominated the market for engineering software, accounting for a revenue share of 33.1% in 2022, owing to significant investments in research and development (R&D) and the presence of a diverse and robust industrial base in the region, including in sectors such as aerospace, automotive, energy, and electronics
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.4. Research Assumptions
- 1.5. List of Data Sources
- 1.5.1. Secondary Sources
- 1.5.2. Primary Sources
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segmental Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope Outlook
- 3.1. Market Lineage Outlook
- 3.2. Engineering Software Market Value Chain Analysis
- 3.3. Engineering Software Market Dynamics
- 3.3.1. Market Driver Analysis
- 3.3.2. Market Restraint/Challenge Analysis
- 3.3.3. Market Opportunity Analysis
- 3.4. Industry Analysis - Porter's Five Forces Analysis
- 3.4.1. Supplier Power
- 3.4.2. Buyer Power
- 3.4.3. Substitution Threat
- 3.4.4. Threat of New Entrants
- 3.4.5. Competitive Rivalry
- 3.5. Engineering Software Market PESTEL Analysis
- 3.5.1. Political Landscape
- 3.5.2. Economic Landscape
- 3.5.3. Social Landscape
- 3.5.4. Technology Landscape
- 3.5.5. Environmental Landscape
- 3.5.6. Legal Landscape
- 3.6. Impact of COVID-19 on the Engineering Software Market
Chapter 4. Engineering Software Market: Component Outlook
- 4.1. Engineering Software Market, By Component Analysis & Market Share, 2022 & 2030
- 4.2. Software
- 4.2.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 4.2.2. Computer-Aided Design (CAD) Software market estimates and forecasts, 2017-2030 (USD Million)
- 4.2.3. Computer-Aided Manufacturing (CAM) Software market estimates and forecasts, 2017-2030 (USD Million)
- 4.2.4. Computer-Aided Engineering (CAE) Software market estimates and forecasts, 2017-2030 (USD Million)
- 4.2.5. Others estimates and forecasts, 2017 - 2030 (USD Million)
- 4.3. Services
- 4.3.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 4.3.2. Development Service market estimates and forecasts, 2017-2030 (USD Million)
- 4.3.3. Training, Support & Maintenance market estimates and forecasts, 2017-2030 (USD Million)
Chapter 5. Engineering Software Market: Deployment Outlook
- 5.1. Engineering Software Market, By Deployment Analysis & Market Share, 2022 & 2030
- 5.2. Cloud
- 5.2.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 5.3. On-Premises
- 5.3.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 6. Engineering Software Market: Application Outlook
- 6.1. Engineering Software Market, By Application Analysis & Market Share, 2022 & 2030
- 6.2. Design Automation
- 6.2.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 6.3. Product Design & Testing
- 6.3.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 6.4. Plant Design
- 6.4.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 6.5. Drafting & 3D Modeling
- 6.5.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 6.6. Others
- 6.6.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 7. Engineering Software Market: End-Use Outlook
- 7.1. Engineering Software Market, By End-Use Analysis & Market Share, 2022 & 2030
- 7.2. Automotive
- 7.2.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 7.3. Aerospace & Defense
- 7.3.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 7.4. Electronics
- 7.4.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 7.5. Medical Devices
- 7.5.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 7.6. Architecture, Engineering and Construction (AEC)
- 7.6.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 7.7. Others
- 7.7.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 8. Engineering Software Market: Regional Estimates & Trend Analysis
- 8.1. Engineering Software Market Share by Region, 2022 & 2030
- 8.2. North America
- 8.2.1. Market estimates and forecasts, 2017 - 2030
- 8.2.2. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.2.3. Market estimates and forecasts, By Deployment, 2017 - 2030 (USD Million)
- 8.2.4. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.2.5. Market estimates and forecasts, By End-Use, 2017 - 2030 (USD Million)
- 8.2.6. U.S.
- 8.2.6.1. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.2.6.2. Market estimates and forecasts, By Deployment, 2017 - 2030 (USD Million)
- 8.2.6.3. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.2.6.4. Market estimates and forecasts, By End-Use, 2017 - 2030 (USD Million)
- 8.2.7. Canada
- 8.2.7.1. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.2.7.2. Market estimates and forecasts, By Deployment, 2017 - 2030 (USD Million)
- 8.2.7.3. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.2.7.4. Market estimates and forecasts, By End-Use, 2017 - 2030 (USD Million)
- 8.3. Europe
- 8.3.1. Market estimates and forecasts, 2017 - 2030
- 8.3.2. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.3.3. Market estimates and forecasts, By Deployment, 2017 - 2030 (USD Million)
- 8.3.4. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.3.5. Market estimates and forecasts, By End-Use, 2017 - 2030 (USD Million)
- 8.3.6. U.K.
- 8.3.6.1. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.3.6.2. Market estimates and forecasts, By Deployment, 2017 - 2030 (USD Million)
- 8.3.6.3. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.3.6.4. Market estimates and forecasts, By End-Use, 2017 - 2030 (USD Million)
- 8.3.7. Germany
- 8.3.7.1. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.3.7.2. Market estimates and forecasts, By Deployment, 2017 - 2030 (USD Million)
- 8.3.7.3. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.3.7.4. Market estimates and forecasts, By End-Use, 2017 - 2030 (USD Million)
- 8.3.8. France
- 8.3.8.1. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.3.8.2. Market estimates and forecasts, By Deployment, 2017 - 2030 (USD Million)
- 8.3.8.3. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.3.8.4. Market estimates and forecasts, By End-Use, 2017 - 2030 (USD Million)
- 8.4. Asia Pacific
- 8.4.1. Market estimates and forecasts, 2017 - 2030
- 8.4.2. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.4.3. Market estimates and forecasts, By Deployment, 2017 - 2030 (USD Million)
- 8.4.4. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.4.5. Market estimates and forecasts, By End-Use, 2017 - 2030 (USD Million)
- 8.4.6. China
- 8.4.6.1. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.4.6.2. Market estimates and forecasts, By Deployment, 2017 - 2030 (USD Million)
- 8.4.6.3. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.4.6.4. Market estimates and forecasts, By End-Use, 2017 - 2030 (USD Million)
- 8.4.7. India
- 8.4.7.1. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.4.7.2. Market estimates and forecasts, By Deployment, 2017 - 2030 (USD Million)
- 8.4.7.3. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.4.7.4. Market estimates and forecasts, By End-Use, 2017 - 2030 (USD Million)
- 8.4.8. Japan
- 8.4.8.1. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.4.8.2. Market estimates and forecasts, By Deployment, 2017 - 2030 (USD Million)
- 8.4.8.3. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.4.8.4. Market estimates and forecasts, By End-Use, 2017 - 2030 (USD Million)
- 8.4.9. South Korea
- 8.4.9.1. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.4.9.2. Market estimates and forecasts, By Deployment, 2017 - 2030 (USD Million)
- 8.4.9.3. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.4.9.4. Market estimates and forecasts, By End-Use, 2017 - 2030 (USD Million)
- 8.4.10. Australia
- 8.4.10.1. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.4.10.2. Market estimates and forecasts, By Deployment, 2017 - 2030 (USD Million)
- 8.4.10.3. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.4.10.4. Market estimates and forecasts, By End-Use, 2017 - 2030 (USD Million)
- 8.5. Latin America
- 8.5.1. Market estimates and forecasts, 2017 - 2030
- 8.5.2. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.5.3. Market estimates and forecasts, By Deployment, 2017 - 2030 (USD Million)
- 8.5.4. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.5.5. Market estimates and forecasts, By End-Use, 2017 - 2030 (USD Million)
- 8.5.6. Brazil
- 8.5.6.1. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.5.6.2. Market estimates and forecasts, By Deployment, 2017 - 2030 (USD Million)
- 8.5.6.3. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.5.6.4. Market estimates and forecasts, By End-Use, 2017 - 2030 (USD Million)
- 8.5.7. Mexico
- 8.5.7.1. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.5.7.2. Market estimates and forecasts, By Deployment, 2017 - 2030 (USD Million)
- 8.5.7.3. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.5.7.4. Market estimates and forecasts, By End-Use, 2017 - 2030 (USD Million)
- 8.6. Middle East & Africa
- 8.6.1. Market estimates and forecasts, 2017 - 2030
- 8.6.2. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.6.3. Market estimates and forecasts, By Deployment, 2017 - 2030 (USD Million)
- 8.6.4. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.6.5. Market estimates and forecasts, By End-Use, 2017 - 2030 (USD Million)
- 8.6.6. Kingdom of Saudi Arabia (KSA)
- 8.6.6.1. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.6.6.2. Market estimates and forecasts, By Deployment, 2017 - 2030 (USD Million)
- 8.6.6.3. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.6.6.4. Market estimates and forecasts, By End-Use, 2017 - 2030 (USD Million)
- 8.6.7. UAE
- 8.6.7.1. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.6.7.2. Market estimates and forecasts, By Deployment, 2017 - 2030 (USD Million)
- 8.6.7.3. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.6.7.4. Market estimates and forecasts, By End-Use, 2017 - 2030 (USD Million)
- 8.6.8. South Africa
- 8.6.8.1. Market estimates and forecasts, By Component, 2017 - 2030 (USD Million)
- 8.6.8.2. Market estimates and forecasts, By Deployment, 2017 - 2030 (USD Million)
- 8.6.8.3. Market estimates and forecasts, By Application, 2017 - 2030 (USD Million)
- 8.6.8.4. Market estimates and forecasts, By End-Use, 2017 - 2030 (USD Million)
Chapter 9. Engineering Software Market: Competitive Landscape
- 9.1. Key Market Participants
- 9.1.1. Altair Engineering, Inc.
- 9.1.2. ANSYS, Inc.
- 9.1.3. Autodesk, Inc.
- 9.1.4. Bentley Systems, Inc.
- 9.1.5. Dassault Systemes
- 9.1.6. ESI Group
- 9.1.7. Siemens
- 9.1.8. 3D Systems Inc.
- 9.1.9. PTC
- 9.1.10. Mastercam
- 9.1.11. Hexagon AB
- 9.1.12. ZWSOFT CO., LTD.
- 9.2. Key Company Market Share Analysis, 2022
- 9.3. Company Categorization/Position Analysis, 2022
- 9.4. Strategic Mapping
- 9.4.1. Expansion
- 9.4.2. Mergers & Acquisition
- 9.4.3. Partnerships & Collaborations
- 9.4.4. Product/service launch
- 9.4.5. Others