Finite Element Analysis (FEA) Software Market Overview: Market Trends, Strategies, And Opportunities

Finite Element Analysis (FEA) Software Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 21, 2024 /EINPresswire.com/ -- The finite element analysis (FEA) software market is projected to grow from $6.23 billion in 2023 to $7.01 billion in 2024, at a CAGR of 12.6%. This growth can be attributed to the increased adoption of smartphones and tablets, advancements in display technology, and substantial investments in research and development. By 2028, the market is expected to reach $11.16 billion, driven by the commercialization of foldable devices, expansion into new applications, and rising popularity in gaming devices.

Rising Liquid Fuel Production Boosts Market Growth
The increase in liquid fuel production is a significant factor contributing to the growth of the FEA software market. This software is crucial in optimizing the structural integrity, heat transfer, and fluid dynamics of equipment used in liquid fuel production, leading to efficient and cost-effective processes. For example, according to the US Energy Information Administration, the United Kingdom's total liquid fuel production was 934,000 barrels per day in 2021, with crude oil production increasing to 793 barrels per day in 2022. This rise in liquid fuel production supports the demand for FEA software.

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Key Players and Market Trends
Key players in the FEA software market include Siemens AG (Siemens PLM Software Inc.), IBM Corporation, Dassault Systèmes, Hexagon AB, Keysight Technologies, Synopsys Inc., and Autodesk Inc. Companies are focusing on innovative solutions such as FEA solvers, which perform the complex calculations necessary to analyze model behavior under various conditions. For instance, in April 2023, Altair Engineering Inc. launched OpenRadioss, a free FEA software for simulating dynamic events like impacts and high-pressure loading.

Segments:
• Software Type: Structural Analysis, Computational Fluid Dynamics (CFD), Electromagnetic Analysis, Thermal Analysis, Multi-physics Analysis
• Deployment: On-premises, Cloud-based
• Application: Automotive Industry, Aerospace And Defense Industry, Electrical And Electronics Industry, Civil Engineering And Construction, Industrial Machinery, Medical Devices, Energy And Power, Other Applications

Geographical Insights: North America Leading, Asia-Pacific Fastest Growing

North America was the largest region in the FEA software market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by technological advancements and increased adoption in various industries. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

Access the complete report for an in-depth analysis of the global finite element analysis (FEA) software market: https://www.thebusinessresearchcompany.com/report/finite-element-analysis-fea-software-global-market-report

Finite Element Analysis (FEA) Software Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Finite Element Analysis (FEA) Software Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on finite element analysis (FEA) software market size, finite element analysis (FEA) software market drivers and trends, finite element analysis (FEA) software market major players, competitors' revenues, market positioning, and market growth across geographies. The finite element analysis (FEA) software market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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