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Engineering Software Market To Grow In Near Future And Boosting the Market - Scalar Market Research
The report tracks the major market events including product launches, technological developments, mergers & acquisitions, and the innovative business strategies opted by key market players. Along with strategically analyzing the key micro markets, the report also focuses on industry-specific drivers, restraints, opportunities and challenges in the engineering software market. The scope of this report covers the engineering software market by its major segments, which include the types, applications, and the major geographic regions.
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On the basis of geography, the market may be categorized into regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America dominated the global design software market in 2014 and is expected to continue the trend over the forecast period. High adoption of cloud-based software for several American enterprises and the introduction of innovative applications for various tablets and smart phones are also expected to fuel regional market growth. Massive penetration of building information technology modeling (BIM) in upcoming construction and infrastructure projects is a major driving factor for Europe. Additionally, companies in the Middle East and Africa have also adopted enterprise-full PLM strategies that are expected to help them achieve innovation and collaboration, which in turn is anticipated to drive the profitability of the engineering software market.
KEY PREMIUM INDUSTRY INSIGHTS
The rising need of automation and growing adoption of integrated solutions for analyzing and designing of engineering systems is fueling the global engineering software market. Furthermore, the growing penetration of mobile devices such as smart phones, tablets and laptops has increased the ease and accessibility of engineering software, which in turn, is bolstering the growth of engineering software market.
Furthermore, the introduction of cloud-based engineering software products is boosting the market growth tremendously. However, high maintenance cost and license cost coupled with lack of technical expertise in operating this software is hindering the market growth globally.
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About Scalar Market Research
Scalar Market Research Inc. aspires to assist organizations from around the world to achieve their business goal with premium market research reports and consulting services. Our real-time industry tracking with the help of advanced analytics offers a crystal clear view of all the activities in niche markets. Our team, with thorough global understanding, works relentlessly to gather the necessary market insights, including customer analysis, competitions and global forecast.
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