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The Asia Pacific (APAC) - computational fluid dynamics (CFD) market size is estimated to grow at a CAGR of 9.05% between 2022 and 2027. The market size is forecast to increase by USD 291.19 million. The growth of the market depends on several factors, including growth in the smartphone industry, increasing M&A, and reduction in product design time and cost. CFD is a field of engineering and physics that utilizes numerical methods and computer simulations to analyze and solve problems related to fluid flow and heat transfer. CFD is extensively used in designing and optimizing the aerodynamics of aircraft, spacecraft, automobiles, and other vehicles. Engineers use CFD simulations to reduce drag, improve fuel efficiency, and enhance the overall performance of these vehicles.
This APAC computational fluid dynamics (CFD) market report extensively covers market segmentation by end-user (automotive industry, aerospace and defense industry, electrical and electronics industry, and others), deployment (cloud and on-premises). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Increasing M&A is the key factor driving the growth of the market. Competition among existing Asia Pacific (APAC) - computational fluid dynamics (CFD) market players is fierce. As a result, Asia Pacific - computational fluid dynamics (CFD) market players are opting for strategic partnerships and acquisitions with market players such as software providers, technology providers, and platform providers. Strategic partnerships and acquisitions help market players to develop products, expand geographically, and access technological expertise.
Additionally, collaboration also allows Asia Pacific - computational fluid dynamics (CFD) market players to investigate new opportunities for their products and services, and generate revenue through selling their products and services to multiple customers. For example, in March 2020, Red Bull renewed its partnership with ANSYS for three years. Therefore, the increasing number of strategic partnerships and acquisitions among APAC - computational fluid dynamics (CFD) market players and participants is expected to drive market growth during the forecast period.
The use of CFD to develop IoT devices is the primary trend shaping the growth of the market. IoT includes hardware devices, implanted software, communication services, and IT services. It helps create smart communication environments such as smart homes, smart transportation, smart shopping, and smart health care. With the advancement of IoT and the expansion of network interfaces, smart machines can monitor and control various objects using microcontrollers over the Internet.
Furthermore, the adoption of simulation software for developing smart connected devices is high in the global IoT market. Asia Pacific - computational fluid dynamics (CFD) market players such as ANSYS provide comprehensive simulation suites for developing high-performance computing systems and devices. The adoption of simulation software such as CFD will translate to the development of IoT-enabled devices, thereby driving market growth during the forecast period.
The threat of open-source CFD software is a challenge that affects the growth of the market. Many small and medium-sized enterprises with lower revenues prefer open-source CFD solutions over commercial CFD solutions due to cost advantages and budget constraints. 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.
Moreover, such factors have driven increased adoption of open-source CFD solutions in Asian countries such as India and China, hindering the growth of commercial CFD providers. Thus, such factors my impede the growth of the market during the forecast period.
The market share growth by the automotive industry segment will be significant during the forecast period. APAC is home to many automakers and their R&D centers. CFD software is widely used in the design and production of automotive parts and components. Mahindra and Mahindra is a leading automobile manufacturer headquartered in Mumbai, India.
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The automotive industry segment showed a gradual increase in the market share of USD 119.49 million in 2017. Subros is an Indian limited liability joint venture owned by the Suri family, Denso and Suzuki Motor. It focuses on manufacturing thermal products for automotive applications. The company uses HyperWorks Suite, including AcuSolve, as its primary CAE solution. AcuSolve, CFD software, was used to solve the problem of airflow analysis for heating, ventilation, and air conditioning (HVAC) systems. Thus, such factors will drive the growth of the APAC - computational fluid dynamics (CFD) market during the forecast period.
Cloud-based CFD allows users to climb their computing resources up or down based on the complexity and scale of their simulation. Cloud-based CFD solutions can be accessed from anywhere with an internet connection. This flexibility is especially important for organizations with distributed teams or individuals who need to collaborate remotely on CFD projects. With the growing demand for CFD simulation in industries such as automotive, aerospace, energy, and environmental engineering, the demand for cloud-based CFD solutions is expected to increase in response. Therefore, the growing adoption of cloud-based CFD solutions will have a positive impact on the APAC - computational fluid dynamics (CFD) market growth during the forecast period.
The APAC Computational Fluid Dynamics (CFD) Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
APAC Computational Fluid Dynamics (CFD) Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The APAC computational fluid dynamics (CFD) market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
APAC Computational Fluid Dynamics (CFD) Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.05% |
Market growth 2023-2027 |
USD 291.19 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) | 8.61 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
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., and ZeusNumerix Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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