A recently released report by Technavio reveals that the Global Finite Element Analysis (FEA) Software market is expected to grow at a CAGR of 16.6 percent.
London, UK, August 30, 2011 -- A recently released report by Technavio, specialists in emerging technologies market research, reveals that the Global Finite Element Analysis (FEA) Software market is expected to grow at a CAGR of 16.6 percent.
The report, which covers the Americas as well as the EMEA and APAC regions, indicates that the market is being driven by improvements in organizational productivity that can be achieved by adopting this software.
According to Technavio’s industry analyst, “FEA software has been helping companies to create reliable and efficient products by providing accurate analysis of product designs. FEA software can also be integrated with other simulation software, which is leading to product design optimization. Through the use of FEA solutions, engineers can analyze a product design without delays and minimize the likelihood of failure in the product development cycle.”
The report also highlights that the existence of counterfeit products is hindering the growth of this market. However, the increasing need to reduce the time to market is expected to keep driving this market. There is also a trend in this market of integrating FEA software and enterprise applications.
These are just some of the important findings presented in the report that will enable companies to fully understand the potential in this market and formulate their own strategies.
Technavio’s report, Global Finite Element Analysis Software Market 2010–2014, is based on extensive research conducted with industry experts, vendors, and end-users. It examines the key trends, drivers, and challenges impacting the evolution of this market. The report also contains incisive insights and SWOT analyses regarding the key vendors in this market, including Dassault Systèmes, MSC Software Corp., ANSYS Inc., LMS International, and Altair Engineering Inc.
For further information and to obtain your copy of this report, please visit http://technavio.com/content/global-finite-element-analysis-software-market-2010-2014. Follow us on Twitter: @technavio for daily updates.
Media Contact:
Ludmila Berkesova
Program Manager
Technavio
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W1G 9SP London UK
Tel: +44 (0) 20 7291 0880
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