Software Engineering Global Market – Overview
The Global Software Engineering market is growing with the rapid pace; mainly due to the advent of automation and high adoption of internet of things in automotive industry. According to a recent study report published by the Market Research Future, the global market of Software Engineering is booming and expected to gain importance over the forecast period. The market is projected to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2022).
The factors driving the global market of Software Engineering Market are Increasing Demand for Automation and Massive Penetration of Building Information Modelling (BIM) rise in threats among others. On the other hand, Piracy Issues, Lack of Skilled Personnel are some of the factors hindering the growth of Software Engineering Market.
Automation is the new buzz word and is trending across industry verticals. Applications such as Computer aided design (CAD) and Computer aided manufacturing (CAM) are increasingly being used to both, design a product and program manufacturing processes such as CNC machining. CAM software makes use of models and assemblies created in CAM software to generate tool paths for driving machines that turn the designs into physical parts. CAD software is typically used for solid modelling, surface modelling, assembly, drafting, detailing and reverse engineering. Therefore, the software engineering market is expected to grow profoundly in the coming years.
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Nov 2017 -. Infosys has announced a partnership with Hewlett Packard Enterprise (HPE) to offer a joint end-to-end mainframe modernization solution that would provide global enterprise customers robust hardware and advanced software architecture.
Nov 2017 -. Siemens entered into an agreement to acquire Saskatoon, Canada-based Solido Design Automation Inc., a leading provider of variation-aware design and characterization software to semiconductor companies worldwide. Solido’s machine learning-based products are currently used in production at over 40 major companies, enabling them to design, verify, and manufacture more competitive products than ever before.
The major players operating in the market of Software Engineering are – Autodesk, Inc.(U.S.), Bentley Systems, Inc. (U.S.), Dassault Systemes S.A (France)., IBM Corporation (U.S.), Geometric Ltd. (India), Siemens PLM Software, Inc.(U.S.), SAP SE (Germany), Synopsys, Inc. (U.S.), PTC, Inc.(U.S.), Ansys, Inc. (U.S.), and MSC Software Corporation (U.S.), and others
Software Engineering Global Market – Segmentation:
The Software Engineering Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
- Segmentation by Software Type: Comprises Computer-Aided Designing (CAD), Computer-Aided Manufacturing (CAM), Computer-Aided Engineering (CAE), Architecture, Engineering and Construction (AEC), Electronic Design Automation (EDA).
- Segmentation by Application: Comprises Automation Design, Plant Design, Product Design, 3D Modelling and Others
- Segmentation by End-user: Comprises Aerospace & Defense, Automotive, Banking, IT & Telecommunication, Oil & Gas, Healthcare and others
- Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
The regional analysis of software engineering market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. Asia pacific is expected to show potential growth. Emerging economies of Asia Pacific, such India, China, and Japan are major contributors in terms of technology for the growth of the software engineering market. The rising demand for automation solutions in these geographies is expected to grow the market over the forecast period. Moreover, in the gulf countries the software engineering market finds potential growth opportunities in the oil and gas industry for designing of automated systems for the industry.
- By Software Type: Computer-Aided Designing (CAD) is dominating the market of Software Engineering by software type and has reached USD 5,758.65 Million in the year 2017 and is also expected to grow at a fastest CAGR of 13.28%.
- By Application: Automation Design is dominating the market of Software Engineering by application and has reached USD 6,076.05 Million in the year 2017. 3D Modelling is the fastest growing at a 13.09% CAGR.
- By End-User: Automotive is dominating the market of Software Engineering by end-user and has reached USD 5,164.26 Million in the year 2017. However, Aerospace & Defense is the fastest growing at 12.45% CAGR during the forecasted period.
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