Engineering Software Market - By Component (Software, Service), By Deployment Model (Cloud, On-premises), By Application (Design Automation, Product Design & Testing, Plant Design, Drafting & 3D Modeling, Others), By End User, Forecast 2023 - 2032
Published Date: April - 2025 | Publisher: MIR | No of Pages: 240 | Industry: Media and IT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationEngineering Software Market Size
Engineering Software Market size was valued at USD 28.9 billion in 2022 and is expected to register a CAGR of over 18% during 2023-2032. Globalization & stricter regulations are the main drivers of the escalating complexity of engineering projects, hence fueling the market.
To obtain key market trends
Download Sample Ask for Discount Request Customization
Contemporary projects require advanced design, simulation, and analysis capabilities to address industry-specific needs. These software products allow engineers to manage complex issues effectively, minimize errors, and speed up product development. With changing industries, the need for advanced engineering software keeps growing to ensure that firms remain competitive and innovative in today's fast-moving technological environment.
The use of cloud engineering software is transforming the business as it is providing flexibility, scalability, and better collaboration capabilities. With the growing trend for remote work & worldwide collaboration, cloud solutions facilitate engineers to share & access essential data and models without any barriers. They also ensure effective management of resources and reduced initial infrastructure expenses. While organizations pursue agility and remote accessibility, engineering software in the cloud has turned into an anchor point in facilitating contemporary engineering tactics, expediting project delivery, and lowering operational bottlenecks.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Engineering Software Market Size in 2022 | USD 28.9 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 18% |
| 2032 Value Projection | USD 150.8 Billion |
| Historical Data for | 2018 - 2022 |
| No. of Pages | 230 |
| Tables, Charts & Figures | 357 |
| Segments covered | Component, Deployment, Application, and End User |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
What are the growth opportunities in this market?
Engineering software with high costs can slow down engineering software market expansion, particularly for small enterprises. They include initial purchasing charges, recurring licensing charges, and hardware upgrade requirements. Further, the intricacy of some software tools requires significant training investments. For this reason, Small & Medium-sized Enterprises (SMEs) could experience entry prohibitions. Addressing this challenge could involve more cost-efficient licensing schemes, cloud solutions, and education efforts to make sure SMEs can properly access & utilize leading-edge engineering software.
COVID-19 Impact
The COVID-19 pandemic has also brought some positive effects on the engineering software market. As remote working became the new reality, there has been an increased dependency on digital tools for collaboration and project management, and this has propelled the use of engineering software. Firms have also hastened their digital transformation process, realizing the significance of sophisticated software solutions to ensure productivity & competitiveness. This has provided opportunities for software vendors, resulting in greater demand.
Engineering Software Market Trends
Artificial intelligence is making a significant impact in the world of engineering software. It increases efficiency by automating work, improving designs, and sifting through huge amounts of data. This accelerates the engineering process, reduces errors, and brings new products to market faster. For instance, in September 2023, SimScale GmbH released a new AI-based feature for simulating how things will behave. They partnered with NAVASTO, a leader in AI for engineering, to ensure their solutions would integrate effectively with the SimScale platform. Engineers can now use physics and AI in tandem to analyze designs in real-time. Increasing numbers of industries are leveraging AI-enabled solutions, driving demand for cutting-edge engineering software higher. That is creating substantial growth in the market and lots of new developments.
Engineering Software Market Analysis
Discover more about the most influential segments defining this market
Download Sample Ask for Discount Request Customization
Imagine thisthe engineering software market is a huge jigsaw puzzle. It consists of two large piecessoftware and services. In 2022, the software piece dominated the market with an enormous chunk, earning approximately $23.5 billion. Why? Because engineering software keeps on improving. It's a superhero for manufacturers, who use it to fine-tune their manufacturing lines, reduce expenses, and create products that are out of this world. Look at nTop, for instance, a magic-like engineering software firm in the US. It just introduced its latest magic, nTop 4 Additive Manufacturing software. This is a magic wand for manufacturers, enhancing their capabilities further to design, connect, and expand their business. But here's the coolest partbetter software means easier integration with 3D printing whizzbangs. This lets companies save cash and create amazing things, making the additive manufacturing software market grow like a beanstalk in the land of engineering software.
Learn more about the key segments shaping this market
Think of engineering software as a tool that helps engineers work smarter. It's sort of like a Swiss Army knife for design, testing, and building things. The market for software is kind of a huge jigsaw puzzle with various pieces for various purposes. There is design automation that assists engineers to build things in a digital world, and product design & testing where they can try out things in the virtual world first before building them in the actual world. There's also plant design, drafting, and 3D modeling, which are like blueprints for building things. The product design & testing piece of the puzzle is a big deal. It's like the quarterback of a football team. In 2022, it was worth a whopping USD 11.1 billion. And guess what? It's only going to keep growing in the future. Why? Because companies are always looking for ways to save money. And this software enables engineers to design and test things virtually, so they don't have to spend a lot of money creating physical prototypes. It's like a magic wand that brings virtual designs into physical products. These tools are like a superpower for engineers. They can model how things will work before they're even made, which saves companies a lot of money on materials, manufacturing, and testing. It's like possessing a crystal ball that enables you to view the future of your product. And, to top that off, it even assists in taking products quickly to market. Forget standing idly by, waiting for hours on end, as physical models are created and tested. It's like turning on the fast-forward switch with your product's development timeline. And when you're able to get your goods to market that much quicker, you'll be able to outcompete others and keep your company flourishing in a wild fast-paced world.
Need region-specific information?
Get Free Sample
North America is the head honcho in engineering software market with a staggering 30% market share in 2022. And what's fueling this dominance? U.S. firms are on a shopping spree, acquiring software developers willy-nilly to bolster their product lineup and cater to the ever-shifting requirements of engineers. Just look at Ansys, for instance. They're a leading player in the field of engineering simulation software, and in January 2023, they acquired Engineering simulation software, Rocky DEM. This isn't some frivolous purchase; Rocky DEM is in the business of modeling the behavior of solid particles, a huge headache for engineers. By incorporating Rocky DEM into their arsenal, Ansys is providing engineers with a means to address design issues that were effectively impossible to resolve in the past. But it's more than merely shelling out money for fancy new gadgets. These purchases introduce first-rate talent and know-how, enabling engineers to remain at the forefront of innovation and expand the limits of what is possible. That's why the North American market for engineering software is prospering – it's a hotspot for businesses that are continually looking to simplify engineers' lives and make them more productive.
Engineering Software Market Share
Major players operating in the engineering software market are
Engineering Software Industry News
- In June 2023, Hexagon AB introduced the Reality Cloud Studio, featuring HxDR technology. This software-as-a-service application democratizes access to reality capture data, seamlessly blending Hexagon's advanced technologies with automation. It simplifies data processing, ensuring user-friendliness while maintaining high-quality professional outcomes.
The engineering software market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments
Click here to Buy Section of this Report
- Software
- Computer-Aided Design (CAD) Software
- Computer-Aided Manufacturing (CAM) Software
- Computer-Aided Engineering (CAE) Software
- Others
- Service
- Development Service
- Training, Support & Maintenance
By Deployment, 2018 – 2032
- Cloud
- On-Premises
By Application, 2018 – 2032
- Design Automation
- Product Design & Testing
- Plant Design
- Drafting & 3D Modeling
- Others
By End User, 2018 – 2032
- Automotive
- Aerospace & Defense
- Electronics
- Medical Devices
- Architecture, Engineering, and Construction (AEC)
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Nordics
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Southeast Asia
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- UAE
- South Africa
- Saudi Africa
Related Reports
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy