Engineering software refers to the software solutions and software packages that are used across different engineering disciplines such as civil engineering, chemical engineering, mechanical engineering, electronic and communication engineering, electrical engineering, manufacturing and others. The chemical engineering software are classified as software used for mapping and analyzing energy conversion (in designing actuators and sensors), designing fluid flow, combustion analysis, psychometric analysis, designing and analyzing heat transfer and designing steam tables among others. The civil engineering segment consists of software that are used for structural designing, drainage and footings designing, mapping and modeling of infrastructure and others. The electrical engineering software are used for electrical analysis of current, voltage and power, digital simulation of circuits, and calculations for designing a practical electrical circuitry.
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The engineering software market is primarily driven by the rising demand for automation across several end-use industries. Additionally, the market growth is attributed to the wide adoption of integrated solution for designing and analysis of engineering system. Moreover, the rising demand for reducing errors, in order to save the operational cost by minimizing the scrap, is fuelling the growth of engineering software market. The market finds potential growth opportunities in the oil and gas industry and chemical industry due to the rising demand for process analytical solutions in these industries. In addition, the availability of engineering software on cloud is expected to boost the demand for engineering software over the coming years. Computer-aided engineering (CAE) software, Computer-aided designing (CAD) software, computer-aided manufacturing (CAM) software, product lifecycle management (PLM) software and building information modeling (BIM) software are the major categories contributing to the growth of engineering software market. The availability of portable devices and the compatibility of these devices with engineering software is further adding to the growth of the market. In addition, shifting trend form 2D solutions to 3D solutions provide potential growth opportunities for the manufacturing and designing industry. However, the high cost incurred in purchasing the license of the engineering software is posing challenge for the growth of engineering software market. In addition, the rising number of piracy cases in the software industry is hindering the growth of the market.
On the basis of geography, the market finds potential growth opportunities in emerging economies of Asia Pacific, Africa and Latin America. Countries such India, China, Japan and Korea are major contributors in terms of technology and the rising demand for automation solutions in these geographies is expected to grow the engineering software market over the coming years. Moreover, in the gulf countries the market finds potential growth opportunities in the oil and gas industry for process analysis and designing of automated systems for the industry. However, the lack of expertise for operating engineering software is hindering the growth of the market in this region.
Engineering software market is highly competitive, thereby pushing the companies to offer customized solutions to their customers, in order to differentiate their offering from the competitors. The key players offering engineering software are Integraph Corporation (Hexagon AB), Aveva Group Plc, Rockwell Automation, Inc., Autodesk, Inc., PTC, Inc., Nemetschek Vectorworks, Inc., Scada Systems Ltd., SmartDraw LLC, EasyPower LLC, Schneider Electric, Dassault Systemes, Seimens AG, Google Inc., Microsoft Corporation, Aspen Technology, Inc., Petroleo Brasileiro, S.A., KBC Advanced Technologies Plc, Honeywell International, Inc., Cranes Software International Ltd., SAP AG, Oracle Corporation, IBM Corporation, Devices Ltd., Corel Technology Pvt. Ltd, D’GIPRO Design Automation Pvt. Ltd. and Cypress Semiconductor Corporation.
