About Finite Element (FEA) Software
Finite element is a method of solving mathematical problems and estimation of structural strength, modeling, simulation and optimization. It is used in the analysis of structures, solids and fluids. The finite element software plays an important role in the development of next generation technology. The aerospace and automobile technology can be developed through this analysis. It also eliminates hassle of multiple prototype which is the major advantage. Furthermore it helps in setting up of a movie scenes like collapsing building. Since it has a wide use, there is a high demand in the developed and developing countries.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Finite Element (FEA) Software market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Ansys (United States), Dassault Systemes (France), MSC Software Corp (United States), Siemens PLM Software (United States), Altair Engineering (United States), ESI Group (France), COMSOL (United States), NEI Software (United States), Hexagon AB (MSC Software) (Sweden) and PTC (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Autodesk (United States), NUMECA (Belgium), Applied Math Modeling (United Kingdom), Ceetron (Norway), Keysight Technologies (United States), AspenTech (United States) and MathWorks (United States).
Segmentation Overview
AMA Research has segmented the market of Global Finite Element (FEA) Software market by Type (Cloud Based and On-Premises), Application (Aerospace and Defense, Automotive Industry, Electrical & Electronics, Industrial Equipment and Others) and Region.
On the basis of geography, the market of Finite Element (FEA) Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
If we see Market by , the sub-segment i.e. will boost the Finite Element (FEA) Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.Influencing Trend:
Technological Developments are Being Made and Production of Next Generation Technologies
Market Growth Drivers:
Adoption of Cloud Based FEA Software is Propelling the Growth of the Market and Need of Adoption of Advanced Technology in Automobile Sector
Challenges:
Limited FEA Service Packages
Restraints:
High Initial Costs Associated with the Finite Element Analysis
Opportunities:
High Demand in Developing Countries and Wide Use of Finite Element Analysis in the Industries
Market Leaders and their expansionary development strategies
In 2019, Ansys announced that it has made an agreement to acquire Granta Design which is a provider of materials information technology.
In September 2023, SimScale GmbH launched the worlds’ first fully integrated and cloud-native A.I. based physics predictions coming to its simulation software. SimScale has partnered with the leading A.I. for accelerated engineering developer, NAVASTO to integrate their solutions into the SimScale platform which will enable engineers to design in real-time using side-by-side physics and A.I. generated analysis results.
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.