Computational fluid dynamics (CFD) market in APAC to grow at a CAGR of 10.28% during the period 2018-2022.
Albany, NY -- (SBWIRE) -- 01/16/2018 -- The advent of computational fluid dynamics has been profiting various end-user industries from the past few years. CFD is a software application that helps end-users to analyze the flow, instability, and pressure distribution of liquids and gases, and their interaction with structures. It has been utilized in diverse industries such as aerospace, automotive, electronics and electrical, defense and energy. A new research study, titled "Computational Fluid Dynamics (CFD) Market in APAC 2018-2022" has been broadcasted to the wide repository of Market Research Hub (MRH), which covers the present scenario as well as future growth prospects of the computational fluid dynamics (CFD) market, with a prime focus in APAC. Moreover, market drivers and opportunities along with scope in emerging market are also mentioned in the report. To accurately predict the market size, the report contemplates the revenue generated from the sales of computational fluid dynamics (CFD) software.
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In terms of geographical expansion, the research finds that the computational fluid dynamics (CFD) market in APAC appears to be highly fragmented due to the presence of several international, regional, and local vendors. Several companies across the world are steadily adopting computational fluid dynamics (CFD) software. The adoption of CFD software aids these companies in accomplishing a competitive advantage since they improve the time-to-market by dropping the product development cycle and testing time. CFD also increases the speed of the product design cycle. Looking to these features, analysts have predicted that the market in APAC will grow rapidly at a CAGR of 10.28% by 2022.
Factors Fueling Market Growth
APAC is home to many automotive manufacturers and their R&D centers. Presently, CFD software is widely used in the design and manufacture of automotive components and parts. Considering this, analysts found that due to the presence of several automotive manufacturers and their R&D centers in the region, the automotive industry is the primary end-user of the CFD market in APAC.
Moving further, the research includes analysis of major countries such as China, South Korea, Japan and Taiwan. Of these, China will be the major revenue contributor to the computational fluid dynamics (CFD) market in APAC and this will attribute to the high R&D investment in the automotive, electrical, and electronics industries in the country.
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Also, the utilization of CFD in biomedical applications will be one of the major trends that will gain prominence in the coming years.
The report also provides full profiles of various companies currently running in this particular market. They are ANSYS, Siemens PLM Software, Dassault Systemes and Hexagon. Other prominent vendors are Altair, Convergent Science, NUMECA International, COMSOL, Autodesk, SimScale, ESI Group, Fluidyn and Flowscience.
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