Global CFD Market 2018-2022 | Increase in Digital Manufacturing to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 14, 2019--
The global computational fluid dynamics (CFD) market is expected to post a CAGR of more than 9% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global computational fluid dynamics (CFD) market 2018-2022 (Graphic: Business Wire)
End-users are increasingly adopting CFD software in their product development system to provide quality products in a shorter period of time and to gain a competitive edge in the market. For instance, the integration of CFD in the automobile industry reduces analysis time and the need for developing multiple prototypes. This reduces product development cycle and testing time, thereby leading to the development of reliable and cost-effective products. Thus, the growing need to decrease product development time is one of the key factors driving market growth.
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As per Technavio, the increase in digital manufacturing will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
Global CFD Market: Increase in Digital Manufacturing
The rapid shift toward industry 4.0 and the adoption of digital technologies such as IoT, Big Data analytics, AI, robotics, 3D printing, and cloud computing is opening new possibilities in the manufacturing industry. Digital manufacturing is enabling manufacturers to develop a 3D simulation of a product before production and analyze different production variants. This improves precision in product design and development and reduces post-production complications. Thus, the growing popularity of digital manufacturing is encouraging several vendors to develop technologies for a unified program for managing PLM and manufacturing execution systems (MES).
“Interlinking of CFD with other feature-rich software and the rising adoption of CFD for battery management will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global CFD Market: Segmentation Analysis
This market report segments the global CFD market by end-user (aerospace and defense industry, automotive industry, electrical and electronics industry, and other industries), and geography (Americas, APAC, and EMEA).
The Americas region led the market in 2017, followed by EMEA and APAC respectively. During the forecast period, the Americas region is expected to maintain its dominance over the global market. This is due to the rising demand for digitization of operators, user-friendly user interface (UI), stringent production regulations, and the growing need for integrating PLM among end-users in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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