The Finite Element Analysis (FEA) market in Australia is to reach US$11.78 million by 2016. One of the key factors contributing to this market growth is increasing need among vendors to manufacture high-quality products. The FEA market in Australia has also been witnessing exploring potential of FEA software for new end-users. However, increased outsourcing could pose a challenge to the growth of this market.
The vendors in the FEA market in Australia are exploring the potential of FEA software to new end-users. Currently, industries such as Mining Equipment, Industrial Machinery, Infrastructure and Construction Equipment, and Automotive are some of the major end-users in the FEA market in Australia. It is expected that during the forecast period the market vendors will increase their focus on new potential end-users such as Healthcare and Consumer Durables industries. The FEA vendors in Australia are expected to increase their revenue during the period 2012-2016 because of the expected increase in the demand for FEA software from these end-users during the same period.
The most important trend is the increasing need among vendors to manufacture high-quality products. FEA software helps in analyzing and measuring the performance and reliability of a product in the early stages of product development, enabling companies to produce products with the best possible quality.
One of the major challenges confronting the FEA market in Australia is increased outsourcing. Companies in Australia have begun to increasingly outsource their design process to low-cost countries such as China, India, and Malaysia because of the easy availability of skilled labor at low cost.
Key vendors dominating this market space include Altair Engineering Inc., Ansys Inc., Dassault Systemes SA, and MSC Software Corp. Other Vendors: COMSOL Inc., LMS International NV, Rockfield Technologies Australia Pty. Ltd. Strand7 Pty. Ltd., NEi Software Inc., and Siemens PLM Software Inc.
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