Software Engineering 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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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.
Software Engineering Global Market – Competitive Analysis:
The Market of Software Engineering appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio.
Major players are investing on internal RD and, most of all, in strategic partnerships. The companies like Siemens, Solido and others are focusing towards strategic partnerships. Autodesk, Inc. a prominent player in software engineering market has designed a software named Autodesk which is widely used in numerous industry verticals. They have a major focus towards research and development, therefore the updated versions of engineering software are launched periodically.
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.),MSC Software Corporation (U.S.) and Carlson Software Inc. (U.S.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Software Engineering Market.
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Software Engineering Global Market – Regional Analysis:
Asia-Pacific is dominating the Global Software Engineering Market with the largest market share owing to the emergence of several manufacturing industries and rising demand from the automation industry. Moreover, countries like China, Japan, South Korea and India are increasing investing in cloud solutions. Followed by Europe shows a significant growth in the software engineering market owing to the high adoption of cloud based solutions and services and high demand from the well-established automotive sector. North America shows considerable growth in the software engineering market owing to the countries like U.S. and Canada. The North America market for Software Engineering Market is expected to grow at a considerable CAGR (2016-2022).
Industry News
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.
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