Finite Element Analysis Market in Electrical and
Electronics Industry Development, Forecast to 2023
July 14, 2017
The global FEA market in electrical and electronics industry has been growing at a steady rate during
past few years. The major factor attributing to the growth of the FEA market is the involvement of
inspection agencies in product development, as it enables the organization to reduce the product
development time by decreasing the number of prototypes and tests. The need to have reduced defects
during the production process by the manufacturing industries is one of the key factors for the growing
demand of the FEA (finite element analysis) software, which in turn contributes to the growth of the FEA
market in electrical and electronics industry.
The use of finite element analysis to develop “internet of things” supporting devices and increasing
adoption of cloud based FEA software are the major trends witnessed in the global FEA market in
electrical and electronics industry. Cloud based FEA software provides high flexibility, storage, security
and scalability to the users. Hence, this software is offered on a pay-per-use basis and can be made
available easily for the price sensitive users anytime and anywhere. The main factors restraining the
growth of the FEA market in electrical and electronics industry include the easy availability of the free
software and high R&D cost of FEA in the market.
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FEA is the software used in the engineering sector, which aims to analyze the working of any product
design before its prototypes are built. In the manufacturing industry, FEA software is used for analyzing
the structural strength, simulation, modeling and design optimization. Finite element analysis helps the
consumer to manufacture high quality product with reduced cost and better product design, which saves
time due to the reduction in number of tests for validating any design. The software can be used in the
industries including automotive, aerospace and defense, industrial machinery, and electrical and
electronics. Several engineers have also started using computer aided engineering software for
creating the initial designs of product to perform simulation processes, which helps in product
development process by improving its efficiency. The use of FEA software is increasing, due to its use
in creating special effects in many feature films. It also helps in creating set-up for movie scenes, such
as collapsing building, collision between objects and extreme deformation of structures.
The FEA market in electrical and electronics industry is projected to witness growth at a significant rate
during the forecast period. Asia-Pacific is estimated to account for the largest share in the FEA market
in electrical and electronics industry, due to the increased production of goods and testing of new
products in the region. The market share held by North American region is considerably low due to the
increased usage of open source FEA software in the region, which is compensated to some extent by
the increased demand for cloud based FEA software.
Some of the major players operating in the global FEA market in electrical and electronics industry
include Ansys Inc., Dassault Systèmes SA, LMS International NV, MSC Software Corp., Siemens PLM
Software, Altair Engineering Inc., Blue Ridge Numerics Inc., Aspen Technology Ltd, ESI Group,
COMSOL Inc., and NEi Software Inc.