Global CAE market to reach $12.8 billion
The global Computer Aided Engineering (CAE) market is anticipated to reach $12.8 billion by 2025, according to a new report by Grand View Research, a US-based market research and consulting company. This growth is due to increasing use of wearable technology in combination with IOT and increasing interest in autonomous vehicles.
The growth of IoT devices, tablets, and smartphones are expected to boost the CAE market growth. The use of wearable devices, used in the fields of medicine, fitness, transportation, education, entertainment, and gaming, are increasing; paving way for growth of the CAE market. Miniaturisation of electronic devices and sensors and persuasive connectivity with lowered costs have contributed significantly to the growth of wearable technology devices.
Governments regulations, mandating applications, such as collision avoidance, parking assistance systems, wireless communication technology, and interactive infotainment systems, in the upcoming car technologies to increase driver safety, are all expected to raise the demand of CAE software. Additionally, technological advancements in the automotive sector, including driverless cars and semi-autonomous cars, are further anticipated to boost the industry demand. Emerging engineering paradigms such as 3D printing, building information modelling, concurrent engineering are also influencing growth in the CAE market.
The full report is available on the company's website.