SAN FRANCISCO, May 10, 2021 /PRNewswire/ — The global computer aided engineering market size is anticipated to reach USD 16.19 billion by 2028, according to a new report by Grand View Research, Inc.
Owing to the growth of IoT, wearable devices, used in the fields of medicine, fitness, transportation, education, entertainment, and gaming, are increasing; paving way for the growth of the CAE market.
Government regulations, mandating applications, such as collision avoidance, parking assistance systems, wireless communication technology, and interactive infotainment systems, in the upcoming car technologies to increase driver safety, are anticipated to raise the demand for CAE software.
Ease of use and unlimited customization capabilities are the key factors driving the 3D printing market which is further expected to positively impact the market growth.
Open-source software has been a boon for small software vendors, due to which, the large enterprises have been facing negative impacts.
With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.