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Amidst the COVID-19 crisis, the global market for engineering software (CAD, CAM, CAE, AEC, and EDA) estimated at US$29.1 billion in 2020, is projected to reach a revised size of US$55.6 billion by 2027, growing at a compound annual growth rate (CAGR) of 9.7% over the period 2020-2027. This is according to a new report from Research and Markets.
CAE, one of the segments analyzed in the report, is projected to record a 9.1% CAGR and reach US$9.6 billion by the end of the analysis period. Considering the ongoing post-pandemic recovery, growth in the electronic design automation segment is readjusted to a revised 9.8% CAGR for the next 7-year period.
The engineering software (CAD, CAM, CAE, AEC, & EDA) market in the U.S. is estimated at US$8.6 billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$7.5 billion by the year 2027 trailing a CAGR of 12.2% over the period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.1% and 9.3%, respectively, over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.7% CAGR.
In the global architecture, engineering and construction segment, the U.S., Canada, Japan, China and Europe will drive the 9.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$5.3 billion in the year 2020 will reach a projected size of US$9.9 billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
For details on ordering the report, click here.
Sources: Press materials received from the company and additional information gleaned from the company’s website.
DE's editors contribute news and new product announcements to Digital Engineering. Press releases may be sent to them via [email protected].
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