Finite Element Market Analysis, Growth, Trends and Forecast 2016

Technavio Announces the Publication of its Research Report Global Finite Element Analysis (FEA) Market 2016-2020

Technavio recognizes the following companies as the key players in the global finite element analysis (FEA) market: ANSYS, Dassault Systèmes, MSC Software, and Siemens PLM Software.

Other Prominent Vendors in the market are: Altair, Aspen Technology, Autodesk, CD-adapco, COMSOL, ESI, and Exa.

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Commenting on the report, an analyst from Technavios team said: 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 reduce 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. FEA...