Engineering Software Market Report: Trends, Forecast and Competitive Analysis to 2030

Engineering Software Trends and Forecast

The future of the global engineering software market looks promising with opportunities in the automotive, aerospace & defense, electronic, medical device, and architecture, engineering, and construction (AEC) sectors. The global engineering software market is expected to reach an estimated $71.6 billion by 2030 with a CAGR of 10.8% from 2024 to 2030. The major drivers for this market are rapid digitization among industries, rising preference for SaaS-based cloud engineering software, and growing adoption of remote work culture in enterprises.

A more than 150-page report is developed to help in your business decisions.

Engineering Software by Segment

The study includes a forecast for the global engineering software by component, deployment mode, application, end use industry, and region.

Engineering Software Market by Component [Shipment Analysis by Value from 2018 to 2030]:

• Software
• Services

Engineering Software Market by Deployment Mode [Shipment Analysis by Value from 2018 to 2030]:

• Cloud
• On-Premises

Engineering Software Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Design Automation
• Product Design & Testing
• Plant Design
• Drafting & 3D Modeling
• Others

Engineering Software Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:

• Automotive
• Aerospace & Defense
• Electronics
• Medical Devices
• Architecture, Engineering, and Construction
• Others

Engineering Software Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Engineering Software Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies engineering software companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the engineering software companies profiled in this report include-

• Altair Engineering
• ANSYS
• Autodesk
• Bentley Systems
• Dassault Systemes
• ESI
• Siemens
• 3D Systems
• PTC
• Mastercam

Engineering Software Market Insights

Lucintel forecasts that product design & testing will remain the largest segment over the forecast period due to its rising usage among companies to ensure product quality, innovation, and time-to-market efficiency.

Within this market, automotive will remain the largest segment due to increasing need for engineering software in this sector to fabricate advanced design, simulation, and optimization tools for developing innovative vehicles.

North America is expected to witness highest growth over the forecast period due to continuous expansion of industry 4.0 and presence of key players in the region.

Features of the Global Engineering Software Market

Market Size Estimates: Engineering software market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Engineering software market size by various segments, such as by component, deployment mode, application, end use industry, and region in terms of value ($B).

Regional Analysis: Engineering software market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different components, deployment modes, applications, end use industries, and regions for the engineering software market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the engineering software market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the engineering software market size?

Answer: The global engineering software market is expected to reach an estimated $71.6 billion by 2030.

Q2. What is the growth forecast for engineering software market?

Answer: The global engineering software market is expected to grow with a CAGR of 10.8% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the engineering software market?

Answer: The major drivers for this market are rapid digitization among industries, rising preference for SaaS-based cloud engineering software, and growing adoption of remote work culture in enterprises.

Q4. What are the major segments for engineering software market?

Answer: The future of the engineering software market looks promising with opportunities in the automotive, aerospace & defense, electronic, medical device, and architecture, engineering, and construction (AEC) sectors.

Q5. Who are the key engineering software market companies?

Answer: Some of the key engineering software companies are as follows:

• Altair Engineering
• ANSYS
• Autodesk
• Bentley Systems
• Dassault Systemes
• ESI
• Siemens
• 3D Systems
• PTC
• Mastercam

Q6. Which engineering software market segment will be the largest in future?

Answer: Lucintel forecasts that product design & testing will remain the largest segment over the forecast period due to its rising usage among companies to ensure product quality, innovation, and time-to-market efficiency.

Q7. In engineering software market, which region is expected to be the largest in next 5 years?

Answer: North America is expected to witness highest growth over the forecast period due to continuous expansion of industry 4.0 and presence of key players in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the engineering software market by component (software and services), deployment mode (cloud and on-premises), application (design automation, product design & testing, plant design, drafting & 3D modeling, and others), end use industry (automotive, aerospace & defense, electronics, medical devices, architecture, engineering, and construction, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?