CFD Market Projected to Grow by $1.23 billion from 2024-2028

The global computational fluid dynamics (CFD) market  size is estimated to grow by USD$1.23 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a compound annual growth rate of over 9.45% during the forecast period, the company adds. 

Key market players include Altair Engineering, Ansys, Autodesk, Bentley Systems, Cadence Design Systems, COMSOL, Convergent Science, CPFD Software, Dassault Systemes, Flow Science, Fluidyn Group, Hexagon AB, Kitware, Mechartes Researchers Pvt., PTC, Siemens, SimScale, Synopsys, MathWorks, and ZeusNumerix Pvt.

Key Market Trends

The global CFD market is experiencing significant growth due to increasing demand for digitization, overall connectivity, and ease of use, Technavio reports. Rising research and development (R&D) expenditure and product complexity are also driving market expansion. Technavio adds. Vendors are responding by developing feature-rich product lifecycle management (PLM) solutions.

Cloud-based CFD offers zero start-up time, guided workflows, and online support. The OpenFOAM Foundation, a CFD vendor, provides an OpenFOAM cloud computing platform using Amazon Web Services EC2. This platform supports Elastic Network Adapter and C5n instances for scaling on clusters. 

The CFD market is experiencing growth due to increasing trends in equation solving for complex fluid dynamics problems. Reduced testing time and product design cycles are key benefits. Physical prototypes are being replaced with digital twins, reducing costs and improving sustainability. External factors, such as regulatory standards and sustainability metrics, are driving the adoption of green design principles and global supply chains. High-fidelity simulation and virtual prototyping are needed for optimizing manufacturing costs.

CFD software, hardware, and high-performance computing are needed for industries like renewable energy, healthcare, and biotechnology. Simulation capabilities are expanding to include industry applications like wind farms and circuit boards, with product design and optimization as priorities. Model calibration, boundary conditions, turbulence modeling, and mesh quality are critical elements of CFD analysis. 

Market Challenges

In the CFD market, data security and privacy concerns are important for businesses. With the adoption of cloud-based CFD software, there is a risk of data being accessed or mishandled by third-party service providers. Standard attacks can affect the object storage component. Vendors are concerned that clients may not verify the Certificate Authority credential of the server before executing a secure socket layer connection, potentially leading to data leakage. Cloud solutions are more accessible for data sharing but come with risks such as distributed denial-of-service attacks, data breaches, unsecured application programming interfaces, data loss, and account hijacking. Software piracy, where a purchased license is shared with other end-users, also poses a threat to the privacy of CFD software. 

CFD software helps businesses improve their manufacturing costs by simulating fluid flows and mechanics before actual production. But the high cost of hardware and high-performance computing (HPC) requirements pose challenges. The market is segmented into industries like Electrical and Electronics, Industrial Machinery, and Electric vehicles.

The growth rate of the CFD market is driven by sustainability initiatives, artificial intelligence, and environmental concerns. CFD's application in fluid flows and mechanics is essential for industries to ensure product efficiency and sustainability.

Research Analysis

CFD is widely used in the aerospace industry for aerodynamic design, in the energy sector for power plant optimization, in healthcare for medical device design, and in renewable energy for wind turbine optimization, among others. The integration of artificial intelligence and machine learning algorithms in CFD software is further enhancing simulation capabilities, while environmental concerns are driving the adoption of cloud-based solutions and sustainable practices.

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Sources: Press materials received from the company and additional information gleaned from the company’s website.