Computational Fluid Dynamics (CFD) Market Size, Share, Growth Analysis, By End-User(Automotive, Aerospace & Defense, Electrical & Electronics, Industrial Machinery), By Deployment Mode(Cloud-Based Model, On-Premises Model), By Type(Software Subscription, Maintenance, Service), By Region - Industry Forecast 2024-2031

Global CFD Market size was valued at USD 2.24 billion in 2022 and is poised to grow from USD 2.44 billion in 2023 to USD 4.78 billion by 2031, at a CAGR of 8.78% during the forecast period (2024-2031).

The CFD market is experiencing a growth phase of the product lifecycle with immense scope for innovation. Hence, companies are investing substantially in R&D and technology collaboration. Companies expect a high degree of partnerships and M&A activities in the market during the forecast period. 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. While the emerging players are more focused on technology enhancement, the global players are focused more on diversified applications. 'ANSYS (US) ', 'Dassault Systèmes (SIMULIA) (France) ', 'Siemens Digital Industries Software (Simcenter) (Germany) ', 'PTC (Creo) (US) ', 'Autodesk (Simulation) (US) ', 'OpenFOAM (Open-source) (N/A) ', 'STAR-CCM+ (US/Germany) ', 'COMSOL Multiphysics (Sweden) ', 'CD-adapco (STAR-CD, STAR-CCM+) (US/Germany) ', 'Altair (HyperWorks) (US) ', 'ESI Group (France) ', 'MSC Software (MSC Adams, MSC Marc) (US) ', 'MathWorks (MATLAB/Simulink) (US) ', 'Flow3D (US) ', 'Fluent (acquired by ANSYS) (US) ', 'CONVECTION (US) ', 'Cadence Design Systems (US) ', 'Synopsys (US) ', 'Numerica (US) ', 'Pointwise (US)'

Computing capabilities have improved substantially over the past decade due to the advancement of information technology and big data. With advanced computing systems, scientists and engineers can solve complex fluid dynamics. Development in solver algorism and parallel processing have enabled engineers to derive multiple design and models alternatives in less time. This has immensely boosted the demand for CFD software for its application across different industries. 

Reduces Product Development Timelines: - Due to the high degree of competition, organizations are trying to reduce the development to market time for any product or service. CFD software reduces the time reduced for product development, testing, and analyzing use case scenarios thus curbing the development to market timeline. This also helps the company reduce the associated cost for development and testing of the new product before launching them on the market. 

North America is dominating the CFD market due to high end user demand and the presence of CFD developing companies. The cost of product development and testing is significantly high due to strict guidelines and the degree of competition among end users is also significantly high. Hence, many end users in the US are opting for CFD software for virtually testing computer generated prototypes. The demand for CFD is significantly high for aerospace and aviation applications. North America hosts the largest aerospace and aviation industry in the world. The US aviation industry was valued at more than 100 billion in 2022. Hence, the demand for CFD market is expected to witness strong growth in North America during the forecast period.