Need immediate assistance? Call 1-518-730-0559 (Us-Canada Toll Free) or Contact Us


The Cloud is Working in Favor of the Global Engineering Software Market

Blog Description

The major segments in the global engineering software market, according to the type of technology, are AEC, EDA, CAE, CAD, and CAM software. The engineering software market finds a massive scope of use in various branches of engineering: mechanical, chemical, process, electrical, communication and electronics, and others.

Browse the full Global Engineering Software Market Report:

As such, the global engineering software market was valued at US$19.98 bn in 2014 and is expected to progress at a 12.4% CAGR between 2015 and 2022. In the long list of vendors and service providers of the engineering software market, the most prominent ones that hold larger shares include Dassault Systemes S.A., Bentley Systems, Inc., Autodesk, Inc., Siemens PLM Software, Inc., Geometric Ltd., IBM Corporation, PTC, Inc., Synopsys, Inc., SAP SE, MSC Software Corporation, and Ansys, Inc. Each of the global engineering software market’s key players provides a major tool or service used by a large number of organizations and professionals across the world. Some of the newer fields that the global engineering software market companies are heading into include marine engineering, where ship construction and offshore sectors are in need of providing a significant platform for operations across remote locations with extreme weather and/or lack of space.

Cloud Computing and Engineering Software: Perfect for Each Other

The emergence of cloud computing was perhaps one of the greater boons to the global engineering software market. With cloud computing, companies and professionals can easily use software that they otherwise could not have accessed otherwise. Cloud services provide options such as time-based engineering software licenses, free/paid cloud storage options, and a higher rate of productivity that coincides with a faster rate of file sharing. This has significantly bolstered the global engineering software market and helped the involved parties in speeding up their processes. The global engineering software market is currently hampered by issues including high licensing and maintenance costs. This specially applies to in-house engineering software and related servers. With the advent of cloud computing, users can avail off-site servers that are maintained by third parties, while users can easily mitigate the high licensing costs through user-oriented pricing lists.

Some of the major factors promoting the rapid rise of the global engineering software market are the increasing number of automated processes popping up in multiple industries and the requirement of high-end design solutions for them. Additionally, the global engineering software market benefits from the increasing penetration and evolution of consumer electronics in the commercial markets. As an increasing number of common technologies become strong enough to handle tougher processes, more of them are being used by engineers to run their desired software or third-party apps.

Professionals Come Together to Bring about Improvement in Engineering Software

There are multiple avenues where organizations and individuals from different fields of engineering can view the latest technologies that they can avail, along with the provision of a platform to voice their opinions and concerns. One such event is the Design Automation Conference. The 53rd DAC will be held in Austin, Texas, from July 5, 2016. An informational meeting for the exhibitors, where an Industry Liaison Committee looks to creating a streamlined DAC, was recently held in November 2015. Another global platform for CAE comes in the form of the International Conference on Computer-Aided Engineering. The 2015 leg for the same will be held in the GITAM University, India, from December 10, 2015.

Browse the full Press Release of Global Engineering Software Market

The global engineering software market is thus a creation of many such integrated efforts that go a long way towards moving the complex world of engineering software one step forward.