Lewes, DE -- (SBWire) -- 11/17/2015 --Report forecast the global FEA market in the automotive industry to grow at a CAGR of 12.93% over the period 2014-2019.
FEA, a software used in engineering, aims to evaluate the functionality of a product design before its prototypes are produced. FEA software is used in manufacturing industries for the estimation of structural strength and behaviour, modeling, simulation, and design optimization.
This software helps end-users to produce quality products, reduce cost, provide better product design, and fasten the product development time. It is used in the automotive, aerospace and defense, electrical and electronics, and industrial machinery industries.
According to the report, the increased need to provide quality products in a short duration has led to an increase in the demand for FEA software. FEA software helps to improve the time-to-market by reducing the product development cycle and testing time. It improves the speed of the product design cycle and produces reliable and cost-effective products by reducing the analysis time.
Further, the report states that the market faces challenges due to the availability of free open-source FEA. SMEs lack capital so they tend to invest in FEA, which has led to the wide adoption of free or open-source FEA globally, which in turn has hampered the growth of the market.
Global FEA Market in Automotive Industry 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers Americas, APAC, and EMEA; it also covers market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
key players in the Global FEA in the Automotive Sector: ANSYS, Dassault Systèmes, Siemens PLM Software and MSC Software
Other Prominent Vendors in the market are: Altair, Aspen, Autodesk, CD-adapco, COMSOL, ESI, Exa and NEi
Key regions
- Americas
- APAC
- EMEA
Key vendors
- ANSYS
- Dassault Systèmes
- Siemens PLM Software
- MSC Software
Other prominent vendors
- Altair
- Aspen Technology
- Autodesk
- CD-adapco
- COMSOL
- ESI Group
- Exa
- NEI Software
Market driver
- Reduction in product design time, cost, and faster time-to-market
- For a full, detailed list, view our report
Market challenge
- High cost of FEA
- For a full, detailed list, view our report
Market trend
- Increase in outsourcing of FEA pre-processing to APAC
- For a full, detailed list, view our report.
Key questions answered in this report
- What will the market size be in 2019 and what will the growth rate be?
- What are the 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 the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 106 pages and 30 Exhibits "Global FEA Market in the Automotive Sector 2015-2019" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Geographical segmentation, Market drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Prominent vendor analysis, Appendix.
Find more information Visit at: http://www.marketresearchreports.com/technavio/global-fea-market-automotive-sector-2015-2019
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