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NEW YORK, Nov. 29, 2023 ~ The Computational Fluid Dynamics (CFD) market in APAC is expected to experience significant growth between 2023 and 2027, according to a new report from Technavio. The potential growth difference for the CFD market in APAC between 2022 and 2027 is USD 291.19 million.
The report segments the CFD market in APAC by end-user (automotive industry, aerospace and defense industry, electrical and electronics industry, and others), deployment (cloud and on-premises). According to the report, the automotive industry segment will experience significant growth during the forecast period due to the presence of several automotive manufacturers in APAC, as well as research and development centers. In the design and production of car parts and components, CFD software is largely used.
The threat of open-source CFD software is a significant challenge restricting market growth. Due to cost advantages and budget constraints, many SMEs that have reduced revenue are choosing open-source solutions as opposed to commercially developed CFD solutions. Additionally, open-source CFD providers offer end-user support at a much lower cost than commercial providers because they have active communities and user bases, gathering ideas and reports. Hence, these factors are expected to restrict market growth during the market period.
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Increasing M&A is another key factor driving market growth. There is strong competition between current players in the market. They thus choose to partner with market players such as software and technology companies or platform providers to strengthen their presence on the market. Coherence also enables market participants to look at new opportunities in relation to their products and services, as well as make money by selling them to several customers. Hence, these factors are expected to drive market growth during the forecast period.
Key companies operating in the Computational Fluid Dynamics (CFD) Market in APAC include Altair Engineering Inc., ANSYS Inc., Autodesk Inc., Cadence Design Systems Inc., COMSOL AB, Convergent Science Inc., CPFD Software LLC, Dassault Systemes SE, ESI Group SA, Fluidyn Group, Hexagon AB, HitechDigital Solutions LLP , Mechartes Researchers Pvt Ltd., PTC Inc., Siemens AG , Synopsys Inc., The MathWorks Inc., ZeusNumerix Pvt Ltd..
The report segments the CFD market in APAC by end-user (automotive industry, aerospace and defense industry, electrical and electronics industry, and others), deployment (cloud and on-premises). According to the report, the automotive industry segment will experience significant growth during the forecast period due to the presence of several automotive manufacturers in APAC, as well as research and development centers. In the design and production of car parts and components, CFD software is largely used.
The threat of open-source CFD software is a significant challenge restricting market growth. Due to cost advantages and budget constraints, many SMEs that have reduced revenue are choosing open-source solutions as opposed to commercially developed CFD solutions. Additionally, open-source CFD providers offer end-user support at a much lower cost than commercial providers because they have active communities and user bases, gathering ideas and reports. Hence, these factors are expected to restrict market growth during the market period.
More on Nyenta.com
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Increasing M&A is another key factor driving market growth. There is strong competition between current players in the market. They thus choose to partner with market players such as software and technology companies or platform providers to strengthen their presence on the market. Coherence also enables market participants to look at new opportunities in relation to their products and services, as well as make money by selling them to several customers. Hence, these factors are expected to drive market growth during the forecast period.
Key companies operating in the Computational Fluid Dynamics (CFD) Market in APAC include Altair Engineering Inc., ANSYS Inc., Autodesk Inc., Cadence Design Systems Inc., COMSOL AB, Convergent Science Inc., CPFD Software LLC, Dassault Systemes SE, ESI Group SA, Fluidyn Group, Hexagon AB, HitechDigital Solutions LLP , Mechartes Researchers Pvt Ltd., PTC Inc., Siemens AG , Synopsys Inc., The MathWorks Inc., ZeusNumerix Pvt Ltd..
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