The global software engineering market has been witnessing a steady growth over the last few years owing to increasing demand for automation and massive penetration of building information modelling.
Technology giants such as Autodesk, Inc.(U.S.), Bentley Systems, Inc. (U.S.), Dassault Systemes S.A (France), Siemens PLM Software, Inc.(U.S.), SAP SE (Germany), PTC, Inc.(U.S.), Ansys, Inc. (U.S.), MSC Software Corporation. Autodesk, Inc. a prominent player in Software Engineering Market has designed a software named Autodesk which is widely used in numerous industry verticals. They offer specialize service in 3D design software and technology, digital prototyping, sustainable design software, media & entertainment, consumer software, PLM, cloud, and mobile application.
Computer aided designing is basically a computer software used to facilitate the generation, modification and optimization of a part or a device. It helps in providing high precision and more accuracy in designs and proper documentation for project management. There are various vendors who provide CAD software which allows simple and accurate automation. It possesses the ability to digitally model and automate a prototype which ultimately helps in improving the efficiency of manufacturing processes. It also provides cost reduction benefits and offers highly accurate dimensional analysis. CAD is used for static mechanical design and also in automating manufacturing processes.
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Applications of engineering software includes automation design, plant design, product design, 3D modelling, 3D printing, enterprise resource planning, project management and various others. These applications help in automating the business operations and provide systematic, disciplined, quantifiable approach to development, operation and maintenance of software. The major focus of these applications is to provide automated solutions at low cost and high quality.
Engineering software helps aerospace and defense industry in meeting their key business initiatives through simulation driven engineering design and also helps in driving innovation through the exploration of a wider range of product designs. It helps in reducing costs and provides better efficiency too.
The global software engineering market is expected to grow at a CAGR of approximately 8% during the forecast period 2017-2023.
The major players operating in the market of Software engineering are – Autodesk, Inc.(U.S.), Bentley Systems, Inc. (U.S.), Dassault Systemes S.A (France)., IBM Corporation (U.S.), Geometric Ltd. (India), Siemens PLM Software, Inc.(U.S.), SAP SE (Germany), Synopsys, Inc. (U.S.), PTC, Inc.(U.S.), Ansys, Inc. (U.S.), and MSC Software Corporation (U.S.), and others
The global software engineering market is segmented by software type, application and end-user. By software type the market is sub-segmented into Computer-Aided Designing (CAD), Computer-Aided Manufacturing (CAM), Computer-Aided Engineering (CAE), Architecture, Engineering and Construction (AEC), Electronic Design Automation (EDA). By application the market is segmented into Automation Design, Plant Design, Product Design, 3D Modelling and others. By end-user segment the market is segmented into Aerospace & Defense, Automotive, Banking, IT & Telecommunication, Oil & Gas, Healthcare and others.
- By Software Type: Computer-Aided Designing (CAD) is dominating the market of Software Engineering by software type and has reached USD 5,758.65 Million in the year 2017 and is also expected to grow at a fastest CAGR of 13.28%.
- By Application: Automation Design is dominating the market of Software Engineering by application and has reached USD 6,076.05 Million in the year 2017. 3D Modelling is the fastest growing at a 13.09% CAGR.
- By End-User: Automotive is dominating the market of Software Engineering by end-user and has reached USD 5,164.26 Million in the year 2017. However, Aerospace & Defense is the fastest growing at 12.45% CAGR during the forecasted period.
The regional analysis of software engineering market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. Asia pacific is expected to show potential growth. Emerging economies of Asia Pacific, such India, China, and Japan are major contributors in terms of technology for the growth of the software engineering market. The rising demand for automation solutions in these geographies is expected to grow the market over the forecast period. Moreover, in the gulf countries the software engineering market finds potential growth opportunities in the oil and gas industry for designing of automated systems for the industry.
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