Software Engineering provides software tool that is used to achieve accuracy in designing of products and components of an organization. Software Engineering are widely adopted by several end users which includes aerospace & defence, automotive, banking, telecommunication, oil & gas, healthcare, others. The Software Engineering allows end-users to develop prototypes of their products on computer before the commencement of the production. They also help architects, engineers, and design professionals draft industry-specific products that enhance the overall product development.
The market growth is attributed by the wide demand of integrated solution for designing of engineering system. Further, the Software Engineering Market is basically driven by the increasing adoption of automation across given end-use industries. The rising demand for lowering errors, to reduce the operational cost by minimizing the scrap, is driving the growth of engineering software market. There is potential rise of Software Engineering technology opportunities in the chemical industry and oil and gas industry due to the increasing demand for process analytical solutions in these industries. Moreover, the presence of Software Engineering on cloud is expected to boost the demand for engineering software over the coming years.
The global Software Engineering market is expected to grow at CAGR of ~15% and estimated to reach at market size of US ~$50 billion by the end of forecast period.
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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 Market is segmented into type, application and end user. By Type it is consists of Computer aided designing (CAD), Computer aided engineering (CAM), Computer aided manufacturing (CAE), Architecture, engineering & construction (AEC), and electronic design automation (EDA). Application comprises of Automation design, Plant Design, Product Design, 3D Modelling, Others and End-User includes Aerospace & Defence, Automotive, Banking, Telecommunication, Oil & Gas, Healthcare, and Others.
Market Research Future Analysis:
Currently, Asia pacific is expected to show potential growth. The Asia Pacific is one of the fastest growing regions in the global market due to the emergence of several manufacturing industries in this region. The rising demand for automation solutions in these geographies is expected to grow the market over the forecast period. Software Engineering market is expected to show moderate growth in Europe due to the presence of well-established automotive industry in the region. Further, owing to a high adoption of cloud-based solutions and services is expected to contribute in the growth of the market in the region.
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