Global computational fluid dynamics (CFD) market to reach a valuation of US$ 2,447 Million in 2023. Future Market Insights reports say that the market is expected to grow at an 8.78% CAGR from 2023 to 2033, anticipated to be valued at US$ 5,679.2 Million by the end of 2033.
The growth of the market can be attributed to rapid advancements in the motor vehicle, aerospace, and aeronautical industries. CFD is used to maintain several critical aircraft systems and components in these sectors. Several methods have been applied recently to the design of internal combustion engines, gas turbines, combustion chambers, and furnaces. Motor vehicle manufacturers are now routinely predicting drag forces, low-coil air flows, and the in-car environment with CFD, where, it is used to optimize engine cooling and fuel delivery systems. CFD can also predict the performance of new processes and designs prior to their production and implementation by becoming an integral part of the engineering analysis and design environment in several organizations.
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Rising concerns regarding security and privacy concerns related to deployment models will pose a major challenge to the growth of the computational fluid dynamics market. Lack of awareness about computational fluid dynamics in underdeveloped economies will derail the market growth rate.
Increase in the need for competitive and superior products in the automotive industry and the requirement to develop finer quality products are considered to be the major drivers of the global computational fluid dynamics (CFD) market.
Lack of adoption of cloud-based solutions in defense and aerospace industries is one of the key challenges facing the global computational fluid dynamics (CFD) market.
North America is said to dominate the market region of the computational fluid dynamics (CFD) market followed by the Asia Pacific.
Key Takeaways:
- Sales of the global computational fluid dynamics (CFD) market expanded at a CAGR of 7.69% from 2018 to 2022.
- Asia Pacific market for global computational fluid dynamics (CFD) market is likely to grow at a CAGR of 5.2%.
- North American market for global computational fluid dynamics (CFD) market is likely to expand at a 33.15% share.
- Automotive in the computational fluid dynamics (CFD) market is expected to generate maximum demand for the global computational fluid dynamics (CFD) market.
- Cloud-based model in the computational fluid dynamics (CFD) market are expected to register maximum sales of the global computational fluid dynamics (CFD) market.
Competitive Landscape:
Some of the prominent players in the global market are:
- ESI Group
- COMSOL
- Numeca International
- Ansys
- EXA Corp.
- Aspen Tech.
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Some of the important developments of the key players in the market are:
- In May 2023, ESI Group a leading simulation and virtual prototyping software provider for industries worldwide, has announced the launch of IC.IDO Weave. This innovative offering enables businesses to review complex product design virtually from a human-centric manufacturing perspective, eliminating the need for prototypes and physical try-out. IC.IDO Weave builds on the full potential of ESI Group’s existing IC.IDO offers to create a novel approach in the industrial metaverse.
- In November 2022 – Aspen Technology, Inc. a global leader in industrial software, today announced the availability of its latest aspenONE® software release, V14. The new release delivers advanced intelligence and guidance capabilities that improve decision-making abilities and further boost operational excellence. In addition, V14 enables customers to accelerate sustainability projects with more than 100 sample models and to manage Scope 1 and 2 emissions for reducing carbon footprints
More Valuable Insights Available:
Future Market Insights offers an unbiased analysis of the global computational fluid dynamics (CFD) market providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the computational fluid dynamics (CFD) market is segmented based on major By Deployment (On- precise model, Cloud-based model), By End-user (Automotive, Aerospace, Defense, Electronics, Energy), and by Regions (North America, Europe, Latin America, Asia Pacific, and Middle East & Africa)
Key Segments Profiled:
By Regional:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
By Deployment Model:
- On- precise model
- Cloud-based model
By End-user:
- Automotive
- Aerospace
- Defense
- Electronics
- Energy
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
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