Global CFD Market Size, Share, Growth Analysis, By End-User(Automotive, Aerospace and Defense), By Deployment Model(Cloud-Based Model, On-Premises Model), By Type(Software Subscription, Maintenance and Service) - Industry Forecast 2024-2031

Report ID: SQMIG45A2222 | Region: Global | Published Date: February, 2024
Pages: 197 | Tables: 92 | Figures: 66

Global CFD Market News

On January 26, 2023, Ansys Inc. unveiled their newest iteration, Ansys 2023 R1, a cutting-edge simulation software suite tailored to advance CFD simulations significantly. This latest release introduces a spectrum of enhancements aimed at elevating the precision and efficiency of fluid dynamics analysis. Engineers now have the capability, courtesy of Ansys 2023 R1, to expedite the simulation of intricate products through novel cloud-based options and optimized utilization of multiple GPUs. Moreover, this release elevates the impact of simulation by seamlessly integrating support for collaborative, model-based systems engineering (MBSE) workflows, fostering enhanced teamwork and efficiency.

On March 2, 2020, Siemens made waves with its latest iteration of Simcenter™ STAR-CCM+™ software, integrating AI-driven functionalities to augment CFD simulations' accuracy. This update introduced automatic coupled solver control, reducing setup time while simultaneously enhancing convergence speed—an innovation poised to revolutionize the efficiency of simulations. Siemens also debuted a groundbreaking feature within the realm of CFD codes: collaborative virtual reality (VR), enabling enriched team collaboration by immersing members in simulation results.

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Global CFD Market size was valued at USD 2067.93 million in 2021 and is poised to grow from USD 2249.49 million in 2022 to USD 4410.39 million by 2030, at a CAGR of 8.78% during the forecast period (2023-2030).

The competitive environment of the global CFD market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'ANSYS', 'Siemens', 'Dassault Systèmes', 'PTC Inc.', 'Altair Engineering', 'NUMECA International', 'Convergent Science', 'Hexagon AB', 'ESI Group', 'Autodesk'

The continuous progress in both CFD (Computational Fluid Dynamics) software and hardware represents a significant leap forward, notably in high-performance computing and cloud-based solutions. These advancements have significantly augmented simulation capabilities, empowering them to tackle increasingly complex scenarios with higher precision. The synergy between refined software algorithms and more potent hardware has unlocked new frontiers, enabling the execution of intricate and remarkably accurate simulations.

Industries are increasingly turning to CFD simulations as an integral part of their product design and optimization strategies. By leveraging CFD, companies can virtually test and fine-tune prototypes, significantly reducing the reliance on costly physical testing and experimentation. This shift not only expedites the product development cycles but also yields more efficient and economically viable designs. In today's fiercely competitive business landscape, the capability to swiftly iterate and perfect designs stands as a critical advantage. CFD empowers engineers and designers to meticulously analyze fluid dynamics, heat transfer, and other intricate physical phenomena, culminating in the creation of higher-performing products. Furthermore, amidst the growing emphasis on sustainability, CFD plays a pivotal role in crafting environmentally conscious designs by optimizing energy usage and curbing waste, thereby fueling its widespread adoption across diverse industries.

North America has emerged as a leader, securing the largest market share in CFD, attributed to several key factors. The region boasts a robust presence of pivotal industry players, fostering a competitive landscape conducive to technological advancements. Moreover, substantial investments in research and development (R&D) initiatives bolster innovation, propelling the evolution of CFD solutions. The high adoption rate of CFD across diverse industries within North America, spanning aerospace, automotive, energy, and more, stands as a driving force behind market expansion.

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Global CFD Market Size, Share, Growth Analysis, By End-User(Automotive, Aerospace and Defense), By Deployment Model(Cloud-Based Model, On-Premises Model), By Type(Software Subscription, Maintenance and Service) - Industry Forecast 2024-2031

Global CFD Market News

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