A key factor driving the growth of the market is the growing need to decrease product development time. Industries are implementing computational fluid dynamics (CFD) software in their product development system due to the need for technological advances and providing quality products within a shorter span of time to gain a competitive edge in the market.
This market research report on the global CFD market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increase in digital manufacturing as one of the key emerging trends in the global CFD market:
Global CFD market: Increase in digital manufacturing
The automotive industry is rapidly moving toward industry 4.0 and adopting digital technologies such as IoT, Big Data analytics, artificial intelligence, advanced robotics, 3D printing, and cloud computing, thereby opening new possibilities in the manufacturing industry. With the rise in digital manufacturing, manufacturers can efficiently create a 3D simulation of a product before its production an analyze different variants to meet specific requirements.
“Precision in product designing ad analysis helps manufacturers gain profit by reducing the after-production product complications. Vendors engaged in digital manufacturing are taking necessary initiatives to develop technologies for providing a unified platform for managing PLM and manufacturing execution systems,” says a senior analyst at Technavio for research on product lifecycle management.
Global CFD market: Segmentation analysis
This market research report segments the global CFD market by end-user (aerospace and defense, automotive, electrical and electronics, and other industries) and by geographical regions (APAC, EMEA, and the Americas).
In 2017, the aerospace and defense segment dominated the market with a market share of close to 41%, followed by the automotive industry and the electrical and electronics industries respectively. The automotive industry is expected to witness the maximum increase in its market share over the forecast period.
The Americas led the market with the largest share in 2017, accounting for 39% of the market followed by EMEA and APAC. Although APAC held the smallest share of the market it is expected to witness the maximum increase in its market share over the forecast period. A decline in the market share of the Americas is anticipated owing to the growing dominance of APAC in the global CFD market.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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