Finite Element Analysis (FEA) is an applied technique in engineering which aims to evaluate the functionality of certain product designs before its prototypes are developed. FEA is used by various manufacturing industries to estimate structural strength and behavior, for modeling products, and for simulating product prototypes. By adopting FEA technology, manufacturing industries are able to reduce their product development time and enhance their product quality and reliability. Thus, the increasing need for developing superior quality products in these industries creates a positive impact in the Global FEA market.
The Global FEA market is expected to post a CAGR of 9.72 percent during the period 2012–2016. The market is driven by many growth factors; one is the increasing demand for FEA software from developing countries. Currently, the market is experiencing a huge potential from developing countries such as China, India, Brazil, and Korea, creating more opportunities for the vendors. The market is also experiencing a huge demand from discrete industries across the globe.
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In terms of revenue, North America accounted for the largest share in the Global FEA market in 2012, and was followed by the APAC region. The APAC region is one of the fastest growing geographies in the global market due to the emergence of several manufacturing industries in the region.
Exhibit 10: Global Finite Element Analysis Market by Geographical Segmentation 2012-2016
End-user Segmentation/Product Segmentation Overview
The Global FEA market has numerous end-users; the main end-users are Automotive, Electrical and Electronics, Industrial Machinery, and Aerospace and Defense industries.
Exhibit 5: Global Finite Element Analysis Market by End-user Segmentation 2012-2016
Exhibit 3: Growth Rate Comparison of End-user Segments in the Global Finite Element Analysis Market 2012-2016
Due to the commercialization of their products, a few companies currently have a significant presence in the Global FEA market. Many pure-play companies in this market are either being acquired or being approached for acquisition by larger corporations for their technological capabilities. Some of the key vendors mentioned in the Global FEA Market 2012-2016 report include Ansys Inc., Dassault Systemes SA, LMS International NV, and MSC Software Corp. Other prominent vendors in the Global FEA market include Altair Engineering Inc., AspenTech Ltd., Bentley Systems Inc., Blue Ridge Numerics Inc. (Autodesk), Computational Engineering International Inc., Engineering Systems Inc., ESI Group, Flow Science Inc., Mentor Graphics Corp., NEi Software Inc., and Numeca International SA.
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Key questions answered in this report:
- What will the market size be in 2016 and at what will be the growth rate?
- What are key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by key vendors?
- What are the strengths and weaknesses of each of these key vendors?
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