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The computational fluid dynamics (CFD) market size is estimated to grow at a CAGR of 8.22% between 2022 and 2027. The market size is forecast to increase by USD 972.93 million. The growth of the market depends on several factors, including the growing need for a reduction in product design time and cost, the high adoption of electric vehicles, and the growth in the number of unconventional exploration and production projects. CFD is an essential tool for the analysis of complex systems in industries. With advances in CFD, complex systems such as separation systems, pipeline component interferences, and heat exchangers result in a precise estimate of the projected flow properties. The market size is calculated based on the revenue generated from the software and services specific to CFD. The software license revenue includes both perpetual and periodic licenses or subscriptions.
This computational fluid dynamics (CFD) market report extensively covers market segmentation by end-user (aerospace and defense industry, automotive industry, electrical and electronics industry, and others), deployment (cloud and on-premise), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 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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The growing need for reduction in product design time and cost is driving market growth. By reducing the product development cycle and increasing the speed of product design by using software-generated simulations, CFD helps reduce the time to market. Reliable and accurate results as well as cost-effectiveness and the elimination of developing several physical prototypes by using CFD tools are boosting the market growth of the computational fluid dynamics market.
Hence, numerous companies from manufacturing industries across the globe are adopting CFD solutions. For instance, one of the largest Indian steel vendors, the Steel Authority of India Limited (SAIL) intensively uses the ANSYS Fluent Software. This helps them reduce unnecessary costs incurred by plant-scale experiments and testing. A global manufacturer of oil, gas, water, and steam boilers company, Weil-McLain also uses ANSYS simulation software and it helps save up to more than six months' time compared to the build-and-test method. Hence such factors will drive market growth during the forecast period.
The increasing shift toward cloud-based CFD is a key trend in the market. In developing countries, factors like increased digitization, improving connectivity, and increased R&D investment is boosting the growth of the CFD market. Cloud-based CFD software has numerous benefits including automatic installation and upgradation, and zero start-up time. and do not require IT system setups or license activation. One of the major vendors in the computational fluid dynamics market is the OpenFOAM Foundation Ltd. which offers CFD directly from the Amazon Web Services cloud computing platform.
Moreover, it helps support operational efficiency by offering a guided workflow and a smooth learning curve. Cloud-based are also user-friendly and can help in the correct completion of advanced CFD simulations by following a simple step-by-step approach. If required, constant online support is also present which gives it an edge over traditional software. Such advantages are a key reason the computational fluid dynamics market is being increasingly adopted by numerous companies. Hence such factors will propel the market growth during the forecast period.
The growing concerns about software and data privacy are challenging market growth. To address such security concerns, vendors are focusing on data security policies that govern OpenStack cloud models. CFD vendors primarily face the challenge that clients might not confirm the server's CA credential prior to the execution of a secure socket layer connection. Hence fears of data leakage which could hamper the security of the business by revealing confidential data limit the growth of the computational fluid dynamics (CFD) market.
Moreover, despite the higher accessibility of cloud computing increasing the convenience of operations, it also leaves the risk of data being mishandled by the service provider, a third party. Cloud storage of data can be easily hacked or infected by malware. Cloud-based control also results in limited control over business data, which is seriously hampering the growth of the computational fluid dynamics (CFD) market. Despite the increasing security of cloud-based solutions, distributed denial-of-service (DDoS) attacks, data breaches, data loss, and account hijacking can still occur. Hence such factors hinder market growth during the forecast period.
The market share growth by the aerospace and defense industry segment will be significant during the forecast period. The increased demand for operational efficiency, cost reduction, compliance standards, product efficiency, and resource management across every stage of the manufacturing chain increases the scope for growth of the computational fluid dynamics (CFD) market. Prior to CFD, manufacturing companies used wind tunnel testing and flight-testing methods which can now be replaced by numerical simulation methods. These simulation methods are based on the Navier-Stokes equation which describes the motion of fluids using Newton's second law of motion. CFD has increased the bypass ratio which improves fuel efficiency and also reduced the blade number due to more efficient turbines.
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The aerospace and defense industry segment was valued at USD 508.77 million in 2017 and continue to grow by 2021. The entire aerospace design process can be streamlined by reducing the number of necessary physical prototypes. A major vendor, SimScale offers powerful cloud-based platforms that can provide powerful CFD simulations. Additionally, modern aircraft systems require compliance with electrical design requirements for which a vendor Mentor offers its Capital Load Analyzer software. It can simplify electrical design compliance and certification through automated simulations and digital data continuity. Hence such factors will increase the growth of this segment of the market during the forecast period.
The cloud segment involves hosting CFD software and infrastructure on cloud platforms provided by third-party vendors. With this model, access can be provided by web browsers or specialized client applications. Key advantages of this model include flexibility and scalability, allowing companies to scale up or down according to the organization's computational requirements. This allows the ability to increase computing power during peak periods or save costs by reducing resources during slower periods. Moreover, it can be remotely accessed which increases user convenience. Additionally, it also offers automatic software updates which help reduce installation or upgradation costs. Hence such factors will result in increasing market growth of this segment of the market during the forecast period.
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North America is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Within North America, the US is the largest revenue generator in the global CFD market due to the growing manufacturing, automotive, and aerospace industries as well as the high defense expenditure on defense aircraft by the US government. Numerous vendors conduct operations in this region due to numerous advantages like the abundant natural resources, political stability, highly educated and productive workforce, and business-conducive environment.
Moreover, the aerospace, automobile, and housing industries are among the largest end-users of CFD software. Automotive manufacturers are increasingly innovating new models which are lightweight and fuel-efficient while most American aircraft companies use CFD software intensively for manufacturing aircraft components. Hence such factors will contribute to the growth of the regional market during the forecast period.
The COVID-19 outbreak negatively impacted market growth due to expenditure reduction and reduced investment in CFD software by end-user industries such as aerospace, automotive, and manufacturing. However, after large-scale vaccination drives, these industries renewed operations and also increasingly adopted remote work, cloud-based collaboration, and virtual simulations. Hence all these factors will result in further regional market growth during the forecast period.
The 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.
Global Computational Fluid Dynamics (CFD) Market Customer Landscape
Vendors 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.
Altair Engineering Inc. - The company offers computational fluid dynamics software such as Altair AcuSolve, Altair nanoFluidX, and Altair ultraFluidX.
ANSYS Inc. - The company offers computational fluid dynamics software such as Ansys Fluent and Ansys CFX and Ansys Chemkin Pro.
Autodesk Inc. - The company offers computational fluid dynamics software such as Autodesk Cfd.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The computational fluid dynamics (CFD) market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Computational Fluid Dynamics (CFD) Market Scope |
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Report Coverage |
Details |
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Page number |
179 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.22% |
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Market growth 2023-2027 |
USD 972.93 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
7.76 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 32% |
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Key countries |
US, Canada, China, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Altair Engineering Inc., ANSYS Inc., Autodesk Inc., Bentley Systems Inc., Cadence Design Systems Inc., COMSOL AB, Convergent Science Inc., CPFD Software LLC, Dassault Systemes SE, Flow Science Inc., Fluidyn Group, Hexagon AB, Kitware Inc., Mechartes Researchers Pvt Ltd., PTC Inc., Siemens AG, SimScale GmbH, Synopsys Inc., The MathWorks Inc., and ZeusNumerix Pvt. Ltd. |
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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. |
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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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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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