Engineering Software Global Market Report 2024

Description

Engineering software encompasses specialized computer programs tailored to aid engineers across various fields in tasks such as design, testing, and maintenance of software applications. These tools are indispensable for engineers, facilitating streamlined workflows, increased productivity, and efficient resolution of complex engineering challenges.

The primary components of engineering software comprise software and services. Software encompasses a collection of instructions or programs crafted to execute specific tasks on a computer or electronic device. It can be deployed both in the cloud and on-premises, serving a myriad of applications such as 3D printing, enterprise resource planning, plant layout, drafting and 3D modeling, project management, knowledge management, and product design and testing. This software is utilized across various end-user industries including automotive, aerospace and defense, electronics, medical devices, architecture, engineering, and construction (AEC), among others.

The engineering software market research report is one of a series of new reports from The Business Research Company that provides engineering software market statistics, including engineering software industry global market size, regional shares, competitors with an engineering software market share, detailed engineering software market segments, market trends and opportunities, and any further data you may need to thrive in the engineering software industry. This engineering software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The engineering software market size has grown rapidly in recent years. It will grow from $47.84 billion in 2023 to $55.63 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The growth observed in the historical period can be attributed to several factors, including the increasing complexity of product designs, the globalization of the engineering workforce, regulatory compliance requirements, cost and time savings, and the growing adoption of simulation tools.

The engineering software market size is expected to see rapid growth in the next few years. It will grow to $102.55 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The anticipated growth in the forecast period can be attributed to several factors, including a heightened emphasis on additive manufacturing, increased focus on cybersecurity, growing demand for cloud-based solutions, and the expanding use of digital twins across various industries. Major trends expected in the forecast period include the widespread adoption of cloud-based solutions, integration of Industry 4.0 and IoT technologies, advancements in additive manufacturing, the utilization of open-source software, and a focus on user experience (UX) design.

The anticipated increase in automation within manufacturing processes is poised to drive the expansion of the engineering software market. Manufacturing automation, facilitated by technology and machinery, is gaining traction due to various factors such as workforce demographics, skills gaps, and the pursuit of customization and quality control. Engineering software plays a crucial role in augmenting manufacturing automation by furnishing the requisite tools and functionalities for designing, simulating, analyzing, and optimizing automated processes efficiently. For instance, data from the International Federation of Robotics in October 2022 revealed a significant uptick in industrial robot installations in the USA, reaching 50,712 units in 2021-a notable 31% surge compared to the preceding year. This underscores the pivotal role of rising automation in manufacturing in propelling the growth of the engineering software market.

Key players in the engineering software market are directing their efforts towards developing advanced solutions to cater to the evolving needs of modern manufacturing. One such focus area is digital engineering solutions, encompassing a spectrum of technology-driven approaches and methodologies for engineering product and system design, development, and maintenance. For instance, CAPTURE 3D, a US-based software company specializing in 3D metrology solutions, introduced ZEISS INSPECT in November 2023. This innovative 3D metrology software addresses contemporary manufacturing and engineering challenges by facilitating analysis of 3D, CT, or motion data throughout the inspection workflow from scanning to analysis and reporting. ZEISS INSPECT's versatility allows users to work seamlessly with optical 3D data, volume data, and airfoils, regardless of the metrology method employed for data collection. Notably, it features the Autosurfacing app, which automates the conversion of scan data into high-precision CAD models, streamlining procedures, enhancing efficiency, and mitigating measurement-related challenges.

In July 2023, GlobalLogic Inc., a US-based digital product engineering company, completed the acquisition of Sidero Labs Inc. This strategic move is aimed at bolstering GlobalLogic's portfolio in critical areas such as radio access networks (RAN), self-optimizing networks (SON), and cloud and agile development practices. By integrating Sidero Labs' expertise in cloud-native software development and technology specialization in the communications vertical, GlobalLogic seeks to strengthen its capabilities in the communications technology sector. This acquisition underscores GlobalLogic's commitment to enhancing its offerings and reinforcing its position as a leading player in the digital product engineering landscape.

Major companies operating in the engineering software market are Siemens Ltd., International Business Machines Corporation, General Electric Company, Oracle Corporation, Schneider Electric SE, Honeywell International Inc., SAP SE, ABB Ltd., Emerson Electric Co., HCL Technologies, Rockwell Automation Inc., Dassault Systemes, Hexagon AB, Keysight Technologies, Synopsys Inc., Autodesk Inc., Ansys Inc., PTC Inc., National Instruments Corporation, Aveva Group Plc., MathWorks Inc., Bentley Systems Inc., Altair Engineering Inc., Altium Limited, Aras Corp, ComplianceQuest

North America was the largest region in the engineering software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the engineering software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the engineering software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The engineering software market includes revenues earned by entities providing services such as software development, product lifecycle management, training and support, and finite element analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Including: 1) By Component: Software; Services
2) By Deployment: Cloud; On-Premises
3) By Application: 3D Printing; Enterprise Resource Planning; Plant Layout; Drafting And 3D Modeling; Project Management; Knowledge Management; Product Design And Testing
4) By End-Use: Automotive; Aerospace And Defense; Electronics; Medical Devices; Architecture, Engineering, And Construction (AEC)
Covering: Siemens Ltd; International Business Machines Corporation; General Electric Company; Oracle Corporation; Schneider Electric SE

Product Code: r17345

1. Executive Summary

2. Engineering Software Market Characteristics

3. Engineering Software Market Trends And Strategies

4. Engineering Software Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Engineering Software Market Size and Growth

5.1. Global Engineering Software Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Engineering Software Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Engineering Software Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Engineering Software Market Segmentation

6.1. Global Engineering Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Software
Services
6.2. Global Engineering Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Cloud
On-Premises
6.3. Global Engineering Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
3D Printing
Enterprise Resource Planning
Plant Layout
Drafting And 3D Modeling
Project Management
Knowledge Management
Product Design And Testing
6.4. Global Engineering Software Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Automotive
Aerospace And Defense
Electronics
Medical Devices
Architecture, Engineering, And Construction (AEC)
Other End-Uses

7. Engineering Software Market Regional And Country Analysis

7.1. Global Engineering Software Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Engineering Software Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Engineering Software Market

8.1. Asia-Pacific Engineering Software Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Engineering Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Engineering Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Engineering Software Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Engineering Software Market

9.1. China Engineering Software Market Overview
9.2. China Engineering Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Engineering Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Engineering Software Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Engineering Software Market

10.1. India Engineering Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Engineering Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Engineering Software Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Engineering Software Market

11.1. Japan Engineering Software Market Overview
11.2. Japan Engineering Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Engineering Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Engineering Software Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Engineering Software Market

12.1. Australia Engineering Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Engineering Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Engineering Software Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Engineering Software Market

13.1. Indonesia Engineering Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Engineering Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Engineering Software Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Engineering Software Market

14.1. South Korea Engineering Software Market Overview
14.2. South Korea Engineering Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Engineering Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Engineering Software Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Engineering Software Market

15.1. Western Europe Engineering Software Market Overview
15.2. Western Europe Engineering Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Engineering Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Engineering Software Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Engineering Software Market

16.1. UK Engineering Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Engineering Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Engineering Software Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Engineering Software Market

17.1. Germany Engineering Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Engineering Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Engineering Software Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Engineering Software Market

18.1. France Engineering Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Engineering Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Engineering Software Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Engineering Software Market

19.1. Italy Engineering Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Engineering Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Engineering Software Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Engineering Software Market

20.1. Spain Engineering Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Engineering Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Engineering Software Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Engineering Software Market

21.1. Eastern Europe Engineering Software Market Overview
21.2. Eastern Europe Engineering Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Engineering Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Engineering Software Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Engineering Software Market

22.1. Russia Engineering Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Engineering Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Engineering Software Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Engineering Software Market

23.1. North America Engineering Software Market Overview
23.2. North America Engineering Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Engineering Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Engineering Software Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Engineering Software Market

24.1. USA Engineering Software Market Overview
24.2. USA Engineering Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Engineering Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Engineering Software Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Engineering Software Market

25.1. Canada Engineering Software Market Overview
25.2. Canada Engineering Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Engineering Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Engineering Software Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Engineering Software Market

26.1. South America Engineering Software Market Overview
26.2. South America Engineering Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Engineering Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Engineering Software Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Engineering Software Market

27.1. Brazil Engineering Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Engineering Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Engineering Software Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Engineering Software Market

28.1. Middle East Engineering Software Market Overview
28.2. Middle East Engineering Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Engineering Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Engineering Software Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Engineering Software Market

29.1. Africa Engineering Software Market Overview
29.2. Africa Engineering Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Engineering Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Engineering Software Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Engineering Software Market Competitive Landscape And Company Profiles

30.1. Engineering Software Market Competitive Landscape
30.2. Engineering Software Market Company Profiles
- 30.2.1. Siemens Ltd.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. International Business Machines Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. General Electric Company
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Oracle Corporation
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Schneider Electric SE
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Engineering Software Market Other Major And Innovative Companies

31.1. Honeywell International Inc.
31.2. SAP SE
31.3. ABB Ltd.
31.4. Emerson Electric Co.
31.5. HCL Technologies
31.6. Rockwell Automation Inc.
31.7. Dassault Systemes
31.8. Hexagon AB
31.9. Keysight Technologies
31.10. Synopsys Inc.
31.11. Autodesk Inc.
31.12. Ansys Inc.
31.13. PTC Inc.
31.14. National Instruments Corporation
31.15. Aveva Group Plc.

32. Global Engineering Software Market Competitive Benchmarking

33. Global Engineering Software Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Engineering Software Market

35. Engineering Software Market Future Outlook and Potential Analysis

35.1 Engineering Software Market In 2028 - Countries Offering Most New Opportunities
35.2 Engineering Software Market In 2028 - Segments Offering Most New Opportunities
35.3 Engineering Software Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer