Finite Element Analysis (FEA) Software Market

Market Perspective

The global Finite Element Analysis (FEA) Software Market was valued at USD 5.37 billion in 2022 and is projected to reach USD 15.09 billion by 2030, growing at a CAGR of 14.04% from 2023 to 2030.

FEA software allows for improved accuracy, leading to better-quality products in a shorter design cycle. It also allows for faster and more affordable design cycles. Developers can observe the physical stress that might affect the design, leading to an improved design. Insights into the product help to improve the design and function, leading to better products. FEA also enables time-dependent simulation, which can help to better predict how a product will perform over time.

However, one of the main disadvantages of FEA software is the need for experts to operate it effectively. Professionals who work in the FEA field must hold engineering, mathematical, and computer science knowledge, leading to an increased demand for training. It is also challenging to obtain expertise in the FEA software, which limits the number of experts in the field.

Analyst’s Review on Finite Element Analysis (FEA) Software Market

FEA software can simulate different types of analysis, such as structural, thermal, fluid, or electromechanical analysis. Some software packages offer a broader set of features for multi-physics simulations. Some software packages provide intuitive interfaces and 3D visualization tools to help designers and engineers easily analyze and interpret the simulation results. This method is used in engineering, design, and manufacturing industries to develop reliable and cost-effective designs, minimize product failures, and optimize performance.

Market Definition

Finite Element Analysis (FEA) is a computerized method of numerically approximating the behavior of structures and systems under different real-world conditions. It breaks down a complex system into smaller elements and employs mathematical algorithms to model and predict how they will behave under different loads, vibrations, heat, fluid flow, etc. FEA software uses the Finite Element Method (FEM) and related technologies to understand how products, assemblies, and structures will respond to real-world loading conditions.

FEA software is widely used in engineering, design, and manufacturing industries to develop reliable and cost-effective designs, minimize product failures, and optimize performance. There are many commercial and open-source FEA software packages available, such as Ansys, SolidWorks Simulation, COMSOL Multiphysics, OpenFOAM, CalculiX, and SimScale, among others. These software packages offer a range of features for modeling, analyzing, and optimizing the behavior of different types of structures and systems.

Some FEA software packages focus on specific types of analysis, such as structural, thermal, fluid, or electromechanical analysis, while others offer a more comprehensive set of features for multi-physics simulations. Some software packages also provide intuitive interfaces and 3D visualization tools to help designers and engineers easily analyze and interpret the simulation results.

The complexity of the simulations, the size and accuracy of the models being analyzed, the cost, and the level of technical support are a few of the important factors when considering FEA software. It is also essential to understand the underlying principles and limitations of the FEA method and to have a solid background in engineering mechanics, mathematics, and computer science to use FEA software effectively.

Market Dynamics

Finite Element Analysis (FEA) has been a growing field over the past few decades. Some current trends in FEA include the use of high-performance computing systems, machine learning, and artificial intelligence algorithms, and the integration of FEA with other simulation tools. One significant trend in FEA is the use of high-performance computing systems to speed up simulations. With the increase in computational power, FEA can now simulate more extensive and complex problems in shorter times, leading to faster decision-making and more efficient designs.

Moreover, the integration of FEA with CFD simulation allows for the simulation of fluid-structure interactions, while the integration with optimization algorithms enables the automatic optimization of designs based on performance criteria.

The stability and robustness of finite element analysis software have been a concern for many years. While FEA methods are well-established, current formulations sometimes lack the necessary stability and robustness to ensure accurate simulations. Research into new FEA formulations is ongoing to address these challenges and improve the stability and robustness of FEA software. Overall, while there is a recognition of the need for improvements in FEA software stability and robustness, ongoing research and development will continue to improve the accuracy and reliability of FEA simulations.

Segmentation Analysis

The global finite element analysis (FEA) software market is segmented based on deployment, application, application, and geography.

Based on the deployment, the finite element analysis (FEA) software market is categorized into cloud-based, on-premises, and others. The cloud-based segment is expected to hold the largest market share at 64.17% in 2022 owing to increasingly gaining traction tools for many industries including construction, automotive, electronics, and medical. With the constant growth of cloud computing and web-based technologies, modern solutions like SimScale offer engineers an efficient and cost-effective way to carry out simulations remotely. This software can perform various types of FEA simulations, such as the validation of designs and computational fluid dynamics (CFD), among others. Other notable cloud-based FEA software includes Abaqus, SPARSELAB, and OnScale, each providing different features and capabilities.

Based on the application, the finite element analysis (FEA) software market is divided into automotive, aerospace and defense, electrical and electronics, and others. The automotive segment is expected to hold the largest market share of 40.81% in 2022 owing to majorly used to test and validate the designs. FEA software is commonly used for structural and vibration analysis, as well as thermal analysis. Major automotive companies like Briggs Automotive Company Ltd and Henkel Adhesives utilize FEA software, such as ANSYS and SolidWorks, to simulate the impact of vehicle crashes and the design of clutch assemblies, among other applications. FEA software enables engineers to make informed design decisions and improve the safety and performance of automotive components. As a result, FEA software plays a crucial role in the development and innovation of automotive technology.

Geographical Analysis

Based on regional analysis, the global finite element analysis (FEA) software market is classified into North America, Europe, Asia Pacific, MEA, and Latin America.

North America will dominate the finite element analysis (FEA) software market share of 38.74% in 2022 owing to the heavy investments for simulation in the defense and aerospace industry. The defense and aerospace industries heavily invest in finite element analysis (FEA) software for simulation purposes. FEA software is essential for both structural and thermal analysis in the development of aerospace systems, such as satellites and planes, as well as defense weapons systems like missiles. FEA software, such as ANSYS and MSC Nastran, can analyze the behavior of complex structures and materials subjected to multiple loads and environments. This technology helps improve the quality and efficiency of the design process while also reducing development costs. As a result, FEA software plays a critical role in the development and innovation of defense and aerospace technology.

Competitive Landscape

The global finite element analysis (FEA) software market study report will provide valuable insight with an emphasis on the fragmented nature of the global market. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their respective market shares across different regions. Expansion & investments involve a range of strategic initiatives including investments in R&D activities, new manufacturing facilities, and supply chain optimization. The key vendors in the finite element analysis (FEA) software market are

• Dassault Systemes
• Autodesk Inc.
• Siemens
• Bentley Systems, Incorporated
• Murata Software Co., Ltd.
• SimScale GmbH
• Synopsys, Inc.
• Schneider Electric (AVEVA Group)
• Dlubal Software GmbH
• StruSoft AB
• Altair Engineering Inc.
• ANSYS, Inc
• PTC

Key Developments

• January 2023 (Acquisition): Ansys has acquired Rocky DEM to expand Ansys' network and solidify its presence in South America while integrating Rocky's discrete element method (DEM) tool to offer a more extensive range of discrete particle mechanics solutions to multiple industrial sectors, further driving its position as a leader in the engineering simulation software industry.
• November 2022 (Launch): PTC has recently released a cloud-based simulation tool that offers designers and engineers an efficient and straightforward method for performing finite element analysis (FEA) and structural analysis throughout the product development process. With this tool, users can make better design decisions and streamline the entire product development cycle.
• April 2022 (Acquisition): Bentley Systems acquired ADINA R&D Inc. of Watertown, Massachusetts to bolster Bentley Systems' offerings and elevate its position in the engineering software industry.

The global Finite Element Analysis (FEA) Software Market is segmented as:

By Deployment

• Cloud-Based
• On-Premises
• Others

By Application

• Automotive
• Aerospace and Defense
• Electrical and Electronics
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• Middle East & Africa
  • GCC
  • North Africa
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America