Global Finite Element Analysis Market 2016-2020 - Market to grow at a CAGR of 13.03% - Research and Markets

DUBLIN, September 7, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Global Finite Element Analysis Market 2016-2020" report to their offering.

Finite element analysis helps to evaluate the functionality of a given product design before its prototype is produced. It is used in various manufacturing industries for estimation of structural strength and behavior, modeling, simulation, and design optimization.

The global finite element analysis (FEA) market to grow at a CAGR of 13.03% during the period 2016-2020.

Global Finite Element Analysis (FEA) Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Production of next-generation vehicles in automotive industry will be a key trend for market growth. The auto emission of harmful gases in the environment has increased the need to develop new automobile designs. The need arises to design new exhaust systems and next-generation engines to redce auto emission and its impact on the environment.

The global automotive industry finds new demands for developing smart and safer trucks and cars. With this demand, the industry finds automobiles incorporated with interactive infotainment systems, collision-avoidance systems, wireless communications technology, and navigation devices. Engineers are using simulation software such as FEA to design electric powertrains and cars. Toyota Motors uses Opera FEA of Chelton to simulate Prius electric motors use in Prius hybrid vehicles.


According to the report, one of the key drivers for market growth will be increase in adoption of cloud-based finite element analysis software. Cloud computing provides a vast space for data storage, ease of access, flexibility, and security. Companies increasingly prefer to use cloud-based FEA software as it is cost effective. End-users do not have to pay license costs as they can access the software through the cloud. The deployment of FEA in cloud leads to a reduction in cost, faster distribution, low maintenance, and increase in scalability. 

Key vendors

• ANSYS
• Dassault Systèmes
• MSC Software
• Siemens PLM Software

Other prominent vendors

• Altair
• Aspen Technology
• Autodesk
• CD-adapco
• COMSOL
• ESI
• Exa
  

For more information about this report visit http://www.researchandmarkets.com/research/lrwvc9/global_finite

Related Topics: Engineering, CAD, CAM and CAE Software

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