The last report of the company Technavio also predicts 10% annulal growth of the CAE industry between 2017 and 2021:
"Technavio’s market research analyst predicts the global CFD market in the automotive industry to grow at a CAGR of almost 10% by 2021.
At present, the automotive manufacturers are undergoing high pressure to minimize the product development cycle.
CFD is primarily used in the designing stage of the product development cycle, specifically in the simulation and optimization processes.
The designing stage is crucial in the product development lifecycle as it reduces the time and cost of production of automotive products and components. Such advanced characteristics have promptly increased the dependence of several industries on the software to reduce product development cycle time.
The effective use of PLM software such as CAD, CFD, and CAM helps minimize product recalls by refining the product design, which will subsequently increase the application of CFD software in the automotive industry."
Back to CAE Market page…