FEA in the Automotive Sector: Global Market Analysis 2015-2019

Market overview of FEA in the automotive sector

The global FEA market in the automotive industry is likely surpass $928 million by 2019. FEA software helps in developing virtual prototypes of the products designed to carry out the simulation processes. Its implementation helps avoid all types of costs involved in the designing of a physical prototype. It not only reduces the product design cost but also helps in minimizing other costs associated with warranty and product return costs.

Technavio’s market research analyst predicts that the market will to experience high adoption among automotive manufacturers during the forecast period. Companies such as Mahindra Two Wheelers, with the adoption of a popular FEA software, Adams, witnessed a quicker marketing cycle by saving almost 21 weeks. The software has also helped Kiekert to design a child safety lock in just three weeks. With many similar offerings in the pipeline, market demand for FEA is predicted to swell in the coming four years.

Market outlook of the key regions for FEA in the automotive sector

• Americas
• EMEA
• APAC

The global FEA market in the automotive industry generates a majority of the revenues from Americas. High R&D investment is one of the major factor contributing to the growth of the market. For instance, automotive industry R&D investment in The US accounted for $18 billion in 2013. These investments were used for purchasing new technology, hardware, software, including FEA for innovations.

Segmentation analysis of the leading countries for FEA in the automotive sector

• US
• Canada
• Mexico
• Others

The automotive industry in the US is the second largest automotive industry in the world after China. The sales of passenger vehicles and light commercial vehicles in the country accounted for more than 16 million units in 2014. It is augmented by the wide presence of major automakers in the country making it an attractive location for assembling units.

Key vendor analysis for FEA in the automotive sector

• Altair
• Aspen
• Autodesk
• CD-adapco
• COMSOL
• ESI
• Exa
• NEi

The need to expand and enhance existing FEA offerings, market vendors are increasingly taking the M&A route. With the growing need to develop new automobile designs, this market trend is expected to continue during the forecast period. 

Key questions answered in the report

• What are the key factors driving the FEA in the automotive sector?
• What are the key market trends impacting the growth of the FEA in the automotive sector?
• What are the various opportunities and threats faced by the vendors in the FEA in the automotive sector?
• Trending factors influencing the market shares for the FEA in the automotive sector?
• Key outcome of the five forces analysis on the FEA in the automotive sector?
• Trending factors influencing the market shares for EMEA, APAC, and Americas?
• Growth forecast of the FEA in the automotive sector?

Technavio also offers customization on reports based on specific client requirement.

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