Engineering Software Market to Reach US$ 124 Bn by 2030

Software Robots Hold Automation Potentials Post COVID-19 Crisis

Since the coronavirus disease has become a global pandemic, every industry is scrambling to determine how best to support their employees and customers. This has led to the emergence of software robots that are taking over mundane and tedious tasks by freeing up healthcare workers to spend more time on essential patient care activities. Such trends are benefitting companies in the engineering software market.

Software robots are anticipated to gain prominence in the post COVID-19 pandemic. UiPath – a leading robotic process automation vendor, is gaining recognition for offering its Epic EMR software that deployed automated COVID-19 test labelling for Cleveland Clinic, U.S. Such software robots are accelerating COVID-19 testing and eliminating costly manual errors. This is expected to drive the engineering software market during the forecast period.

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Confusion Between Software Leads to Additional Costs, Hinders Workflow

The engineering software market is predicted to advance at a robust CAGR of 13.5% during the forecast period. However, many clients are unable to spot the differences in software solutions such as for visual technology and modelling software. Clients tend to confuse modelling software with photogrammetry in order to obtain a photo-realistic tour to document a facility, which may lead to additional costs and hinder the workflow. Hence, software companies should educate end users about the utility of every software so that the buyer makes an informed decision.

Modelling software are becoming more sophisticated to simplify the output and translation of information. This transforms a complex data set into a digestible diagnostic.

Design Automation Software Translate Engineering Knowledge into Design Process

The engineering software market is projected to reach a valuation of US$ 142.4 Bn by 2030. This is evident since CAD (Computer Aided Design) customization and design automation software are gaining increased popularity. CAD customization is being highly publicized for automation of monotonous tasks within CAD. On the other hand, design automation software are allowing users to translate engineering knowledge to be input into a system and apply it in real-time during the development of a product.

Companies in the engineering software market are increasing the availability of design automation software, since engineers can record theories and concepts, and demonstrate how and when they are applicable in the software. This helps to automate the engineering knowledge into a design process.

Open Source 3D Modelling Software Enable Collaboration from Developers, Artists, Designers

Virtual reality, real-time rendering, and cloud computing are transforming 3D modelling software. Blender, MakeHuman, and Autodesk Maya are gaining increased popularity under the umbrella of 3D modelling software. Companies in the engineering software market are offering open source 3D modeling software that are available for free, so that anyone can contribute to its code in order to make it better.

Software companies in the engineering software market are teaming up with developers, artists, and designers to innovate in 3D modelling software. They are developing simple UI/UX, which is easy for beginners to grasp with less complicated tools. Other revenue models include a 30-day free trial of software to help users acquire hands-on experience of the tools.

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Integrated Portfolio of Software, Services Helps Gain Insights in Digitalized Environments

Digitalization of processes is bringing about a significant change in the engineering software market. The Siemens Digital Industries Software is gaining popularity for offering flexible and scalable applications for new workflows. Open source engineering software have become a recurring trend in the market landscape, compounded with the availability for cloud-connected products or tools that support digitalization.

Companies in the engineering software market are providing smart and personalized software platforms. Such platforms are giving rise to new insights, opportunities, and new levels of automation at every point of the value chain. Companies are developing integrated portfolio of software and services for electronic and mechanical design, system simulation, lifecycle analytics, and manufacturing, among others.

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