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Computational Fluid Dynamics Market to Grow by USD 1.23 Billion from 2024-2028, Driven by Demand for Reduced Product Design Time and Costs, Report Highlights AI’s Influence on Market Trends – Technavio

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NEW YORK, Aug. 27, 2024 /PRNewswire/ — Report on how AI is redefining market landscape- The global computational fluid dynamics market size is estimated to grow by USD 1.23 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 9.45%  during the forecast period. Growing need for reduction in product design time and cost is driving market growth, with a trend towards increasing shift toward cloud based CFD. However, growing concerns about software and data privacy  poses a challenge. Key market players include Altair Engineering Inc., ANSYS Inc., Autodesk Inc., Bentley Systems Inc., Cadence Design Systems Inc., COMSOL AB, Convergent Science Inc., CPFD Software LLC, Dassault Systemes SE, Flow Science Inc., Fluidyn Group, Hexagon AB, Kitware Inc., Mechartes Researchers Pvt. Ltd., PTC Inc., Siemens AG, SimScale GmbH, Synopsys Inc., The MathWorks Inc., and ZeusNumerix Pvt. Ltd..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Computational Fluid Dynamics Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 9.45%

Market growth 2024-2028

USD 1235.5 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.42

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

APAC at 32%

Key countries

US, China, Germany, UK, and Canada

Key companies profiled

Altair Engineering Inc., ANSYS Inc., Autodesk Inc., Bentley Systems Inc., Cadence Design Systems Inc., COMSOL AB, Convergent Science Inc., CPFD Software LLC, Dassault Systemes SE, Flow Science Inc., Fluidyn Group, Hexagon AB, Kitware Inc., Mechartes Researchers Pvt. Ltd., PTC Inc., Siemens AG, SimScale GmbH, Synopsys Inc., The MathWorks Inc., and ZeusNumerix Pvt. Ltd.

Market Driver

The global Computational Fluid Dynamics (CFD) market is experiencing significant growth due to increasing demand for digitization, overall connectivity, and ease of use. Rising Research and Development (R&D) expenditure and product complexity are also driving market expansion. Vendors are responding to the growing adoption of cloud-based services by developing feature-rich Product Lifecycle Management (PLM) solutions. Cloud-based CFD offers advantages such as zero start-up time, guided workflows, and constant online support. The OpenFOAM Foundation Ltd., a leading CFD vendor, provides a complete OpenFOAM cloud computing platform using Amazon Web Services (AWS) EC2. This platform supports Elastic Network Adapter and C5n instances for effective scaling on clusters. These factors are expected to boost the growth of the global CFD market during the forecast period. 

The Computational Fluid Dynamics (CFD) market is experiencing significant growth due to increasing trends in equation solving for complex fluid dynamics problems. Reduced testing time and product design cycles are key benefits, enabling faster analysis and optimization. Physical prototypes are being replaced with digital twins, reducing costs and improving sustainability. Data security and cybersecurity are crucial considerations, especially in industries like aerospace and energy. 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 essential for optimizing manufacturing costs and improving efficiency. CFD software, hardware, and high-performance computing are essential tools for industries like renewable energy, healthcare, and biotechnology. Simulation capabilities are expanding to include industry applications like wind farms and circuit boards, with efficient product design and optimization at the forefront. Model calibration, boundary conditions, turbulence modeling, and mesh quality are critical elements of CFD analysis. Overall, the market is focused on delivering efficient, cost-effective, and sustainable solutions for various industries. 

Explore a 360° Analysis of the Market: Unveil the Impact of AI. For complete insights- Request Sample!

Market Challenges

In the Computational Fluid Dynamics (CFD) market, data security and privacy concerns are increasingly 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, such as Man-in-the-Middle (MiTM), can affect the object storage component. Vendors are concerned that clients may not verify the Certificate Authority (CA) 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 (DDoS) attacks, data breaches, unsecured application programming interfaces (APIs), 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. These issues may hinder the growth of the global CFD market during the forecast period.The Computational Fluid Dynamics (CFD) market is growing rapidly due to the increasing demand for efficient product design and optimization in various industries. CFD software helps businesses improve their manufacturing costs by simulating fluid flows and mechanics before actual production. However, the high cost of hardware and high-performance computing (HPC) requirements pose challenges. Cloud-based solutions and HPC are addressing these challenges by offering affordable simulation capabilities. Industries like Aerospace, Energy, Healthcare, Renewable Energy, Biotechnology, and Automotive Manufacturing are major consumers of CFD technology. The market is segmented into industries like Electrical and Electronics, Industrial Machinery, and Electric vehicles. CFD’s real-world performance in design and manufacturing processes is crucial for developed economies in sectors like Automobile and Industrialization. The growth rate of the CFD market is driven by sustainability initiatives, artificial intelligence, and environmental concerns. Earlier, coding practices involved the use of punched paper tapes and cards, but now software packages have streamlined the process. The deployment model choices include cloud-based and on-premises. CFD’s application in fluid flows and mechanics is essential for industries to ensure product efficiency and sustainability.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This computational fluid dynamics market report extensively covers market segmentation by  

End-user 1.1 Aerospace and defense industry1.2 Automotive industry1.3 Electrical and electronics industry1.4 OthersDeployment 2.1 Cloud2.2 On-premisesGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Aerospace and defense industry-  The aerospace segment of the global Computational Fluid Dynamics (CFD) market is projected to expand significantly during the forecast period due to the increasing demand for operational efficiency, cost reduction, and compliance with standards in the aerospace sector. Before the advent of CFD, aircraft manufacturing companies relied on wind tunnel testing and flight-testing methods to evaluate product performance. However, with the advent of powerful computers, these traditional methods have been replaced by numerical simulation methods based on the Navier-Stokes equation. CFD is now widely used in various stages of aircraft design and research and development. It is employed in designing external aerodynamics, fuel systems, engine core compartments, missiles, cockpit and cabin ventilation, and submarines. CFD significantly contributes to designing turbine engines and increasing engine fan efficiency. Advancements in CFD have led to increased bypass ratios using CFD codes and a reduced number of blades in aircraft engine turbines. The evolution of CFD codes from 2-D Euler models to current 3-D Navier-Stokes models has resulted in highly efficient and fewer-blade turbines, reducing blade costs. Engineering simulation software, such as SimScale’s cloud-based CAE platform, allows for powerful CFD simulations from any device, streamlining the design process and reducing the need for physical prototypes. In the aerospace industry, Mentor, a Siemens AG subsidiary, offers Capital Load Analyzer software to simplify aircraft electrical design compliance and certification. With the growth of digitization in manufacturing and product design, traditional tools have been replaced by more efficient CFD simulation software based on the Navier-Stokes equation. The significant benefits of CFD in aerospace and defense are expected to drive its adoption, fueling the growth of the global CFD market in the aerospace and defense segment during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Computational Fluid Dynamics (CFD) market is experiencing significant growth due to the increasing demand for efficient product design and optimization in various industries. CFD software, hardware, and high-performance computing (HPC) play crucial roles in simulating fluid flow and heat transfer, enabling manufacturers to reduce manufacturing costs and improve product performance. 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. The automotive sector, automobile manufacturing, electrical and electronics, industrial machinery, and electric vehicles are also major consumers of CFD technology. Computational fluid codes are the foundation of CFD simulations, enabling the accurate modeling of fluid mechanics and heat transfer phenomena.

Market Research Overview

The Computational Fluid Dynamics (CFD) market is a dynamic and growing industry focused on efficient product design and optimization. CFD software, hardware, and high-performance computing (HPC) technologies enable the simulation of fluid flows and mechanics, significantly reducing testing time and costs in various industries. CFD applications span aerospace, energy, healthcare, renewable energy, biotechnology, and more. Sustainability initiatives and environmental concerns are driving the market’s growth, with a focus on efficiency, sustainability, and artificial intelligence. Deployment models include cloud-based and on-premises solutions, catering to diverse industry segmentation. CFD plays a crucial role in the automotive manufacturing, electrical and electronics, industrial machinery, and electric vehicle sectors. Product design cycle analysis, regulatory standards, and sustainability metrics are essential considerations. External factors, such as project delays and budget constraints, necessitate high-fidelity simulation, virtual prototyping, and digital twin technologies. CFD also involves model calibration, boundary conditions, turbulence modeling, and mesh quality to ensure detailed simulation accuracy.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userAerospace And Defense IndustryAutomotive IndustryElectrical And Electronics IndustryOthersDeploymentCloudOn-premisesGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Who’s Working Remotely? Virtual Vocations Survey Highlights Evolving Jobseeker Demographics

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3 hours ago

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December 27, 2024

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This survey underscores the diverse backgrounds and experiences of remote jobseekers, highlighting the growing demand for flexible work arrangements across various demographics.

TUCSON, Ariz., Dec. 27, 2024 /PRNewswire-PRWeb/ — With over 500 participants from the U.S. (69%) and international locations (31%), Virtual Vocations‘ 2024 demographics survey offers valuable insights into the evolving landscape of remote work. By comparing responses across these groups, the survey highlights shared experiences and unique challenges faced by jobseekers worldwide.

“Whether based in the U.S. or abroad, jobseekers are embracing remote roles to align their careers with their personal goals, and we’re proud to be a part of their journey.” –Laura Spawn, CEO and co-founder of Virtual Vocations

Although Virtual Vocations is a U.S.-based company, it supports international jobseekers through its fully remote job board and career resources, addressing the global demand for remote work opportunities. The company frequently receives inquiries from international members seeking to access fully remote roles, punctuating the worldwide appeal of flexible work arrangements.

“The 2024 demographics survey results reinforce what we’ve known for years—professionals around the world are seeking flexibility, balance, and opportunities to work from home,” said Virtual Vocations CEO Laura Spawn. “Whether based in the U.S. or abroad, jobseekers are embracing remote roles to align their careers with their personal goals, and we’re proud to be a part of their journey.”

Fully Remote Jobs Remain Most Desired

A significant 43% of U.S.-based jobseekers and 42% of international respondents named fully remote, no-travel jobs as their top preference. These roles, which allow employees to work entirely from home, offer flexibility, aligning with both personal and professional goals. Although occasional in-person requirements may arise, fully remote roles are favored over hybrid, partially remote, and “work from anywhere” options. These positions provide businesses with access to a broader talent pool and enable employees to prioritize workplace values and culture.

Top Industries for Remote Jobseekers

The survey also highlights four key industries attracting remote jobseekers worldwide. Information Technology (IT) stands out as the leading industry for remote roles, with significantly more job postings than any other field. Healthcare follows closely, benefiting from the growth of telehealth and remote medical roles. Customer service offers engaging opportunities for professionals interested in client interaction, while education presents a wide array of roles in online teaching, tutoring, and instructional design, fueled by the expansion of virtual learning.

Jobseekers’ Common Frustrations

Both U.S. and international jobseekers shared frustrations, particularly with online job scams. Jobseekers expressed dissatisfaction with the prevalence of scams, especially when searching for work-at-home positions. Despite relying on online job boards, only a quarter (23% of U.S. respondents and 24% of international respondents) use dedicated remote job boards, like Virtual Vocations, where job postings are thoroughly vetted to ensure they are free of scams. Additionally, many jobseekers expressed frustration with excessive job requirements and employers failing to provide feedback or “ghosting” applicants during the hiring process, with one-third of respondents from both groups reporting these issues.

Income Insecurity: A Global Concern

Income insecurity remains a pressing issue for both U.S. and international jobseekers, with many reporting their earnings as insufficient for comfortable living. Sixty-five percent of U.S. respondents and 77% of international respondents reported inadequate household incomes. Nearly half (48%) of U.S. jobseekers earn less than $60,000 annually, while 68% of international jobseekers earn under $30,000. To improve financial stability, many jobseekers have set income targets, with 30% of U.S. jobseekers aiming for $60,000–$89,999 and another 30% targeting at least $120,000. In contrast, international respondents generally require lower salaries, with 38% seeking $30,000–$59,999 and 32% aiming for $60,000–$89,999.

For a comprehensive analysis and additional insights, read the full demographics survey report here: https://www.virtualvocations.com/blog/annual-statistical-remote-work-reports/remote-work-demographics-survey-results-2024/

ABOUT VIRTUAL VOCATIONS
Founded in 2007 by CEO Laura Spawn and her brother, CTO Adam Stevenson, Virtual Vocations is a small company with a big mission: to connect jobseekers with legitimate remote job openings. To date, Virtual Vocations has helped more than four million jobseekers in their quests for flexible, remote work.

In addition to providing a database of current, hand-screened, and 100% remote job openings, Virtual Vocations offers jobseekers a number of tools to aid in their job searches, including exclusive career courses, downloadable jobseeker content, and career coaching and resume writing services. Virtual Vocations also releases several data-driven reports each year on current trends in remote work.

Virtual Vocations, Inc. is a private, family-owned, and 100% virtual company incorporated in Tucson, Arizona.

Media Contact

Kimberly Back, Virtual Vocations, Inc., 1 (800) 379-5092 x. 703, kim@virtualvocations.com, https://www.virtualvocations.com

View original content to download multimedia:https://www.prweb.com/releases/whos-working-remotely-virtual-vocations-survey-highlights-evolving-jobseeker-demographics-302339757.html

SOURCE Virtual Vocations, Inc.

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Judge Baker Children’s Center d/b/a The Baker Center for Children and Families Provides Notice of Data Security Incident

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3 hours ago

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December 27, 2024

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BOSTON, Dec. 27, 2024 /PRNewswire/ — Judge Baker Children’s Center d/b/a The Baker Center for Children and Families (“The Baker Center”), a nationally recognized provider of services for children’s mental health, has learned of a data security incident that may have impacted certain personal and / or protected health information. On December 27, 2024, The Baker Center formally notified potentially affected individuals with available address information and provided resources to assist them.

On July 28, 2024, The Baker Center discovered unusual activity within its local digital storage environment. After taking immediate steps to ensure the environment was secure, The Baker Center enlisted independent cybersecurity experts to conduct an investigation to determine what happened and whether sensitive information may have been impacted. According to the investigation, an unauthorized actor gained access to The Baker Center’s systems between July 26 – 28, 2024 and may have downloaded certain files. Following a thorough review of the impacted files, on October 28, 2024, The Baker Center determined that certain individuals’ personal and/or protected health information was potentially impacted during the incident.

The information affected during this incident varies between individuals but may have involved the following: name, address, date of birth, Social Security number, driver’s license or other government identification number, financial account information, health insurance information, medical treatment or diagnosis information, and/or clinical information.

On December 27, 2024, The Baker Center mailed notification letters to potentially impacted individuals with verifiable address information. The letters include information about this incident and about steps that potentially impacted individuals can take to monitor and help protect their personal and protected health information. The Baker Center has established a toll-free call center to answer questions about the incident and to address related concerns. The call center can be reached at 844-920-8988, Monday through Friday from 9:00 AM to 9:00 PM Eastern time. 

The Baker Center takes the security and privacy of information in its possession very seriously and is taking steps to prevent a similar event from occurring in the future. The Baker Center deeply regrets any inconvenience or concern this incident may cause.

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SOURCE The Baker Center for Children and Families

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outboundIQ Achieves Certified Implementation Partner (CIP) Status with Five9

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4 hours ago

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December 27, 2024

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Delivering Optimized, Outbound-Focused Contact Center Solutions for Modern Businesses

LAUDERDALE LAKES, Fla., Dec. 27, 2024 /PRNewswire/ — outboundIQ www.outboundiq.com proudly announces its accreditation as a Five9 Certified Implementation Partner (CIP), a distinction that reflects its deep expertise in optimizing and streamlining outbound-focused contact center operations. With a team of seasoned Five9 veterans, expert programmers, and industry thought leaders, outboundIQ is uniquely equipped to help businesses of all sizes unlock the full potential of Five9’s Virtual Contact Center platform.

Optimized Solutions for Complex Contact Center Needs
outboundIQ specializes in providing expedited, outbound-focused contact center implementations, integrating advanced features such as inbound and outbound Voice, SMS, Chat, Email, Salesforce Integration, and other third-party app integrations. Clients can also leverage ongoing optimization engagements and monthly retainers for strategic consulting designed to support long-term, outreach-focused success.

“Who better to handle your domain configuration than the experts that understand the outbound contact center world. To be an outbound expert, you must know 3 things; how to configure the domain front end, how the architecture interprets that design, and how carriers respond to your dialing behavior as a result of the build. outboundIQ has the advantage of deeply understanding all 3 things. Our experts are seasoned professionals that will guide toward the best build for your business. You tell us about your business, your needs and your processes, and we will build you a domain fit for purpose. outboundIQ offers best in class Domain Optimization, Implementation and Consulting for customers of all sizes and complexity. Due to our methodology and proprietary automations, we are able to bring our customers’ projects to life within accelerated timeframes.”

– Jessica Clay, VP Support and Services

“We launched our business in June and were fortunate to connect with the incredible team at outboundIQ early on. Navigating the world of outbound calling and building efficient prospecting systems isn’t easy, but the entire team at outboundIQ brought our vision to life seamlessly. They implemented our ideas quickly and executed them flawlessly. Since partnering with them, our contact rates have significantly improved, our conversions have increased, and our overall business is thriving. We’re deeply grateful for this collaboration and look forward to continuing our work together on future endeavors!”

– Tim, Lit Financial

“I genuinely don’t know enough ways to thank the entire outboundIQ team. I inherited a domain riddled with mistakes, tangled beyond belief, and I had essentially planned to scrap the whole thing and start over. That’s when this team, led by Jessica Clay’s brilliance, took over to understand exactly what I wanted to create and completely revitalized my domain. We are all beyond thankful as they continue to consult for us to this day and I see no reason to stop. Thank you, Jessica, Jason, Rudy, Bruno, Sandy and everyone who gets the pleasure of working with these domain geniuses!”

– Michael, Lifetime Home Remodeling

A Holistic Approach to Outbound Excellence
Creating a competitive, consumer-focused outreach program requires more than just advanced technology. As outboundIQ explains, a thriving contact center functions like a high-performing racing team:

The Car: Five9 Virtual Contact Center provides a cutting-edge technology foundation.The Driver: Strong Dialer Administrators who skillfully manage operations.The Pit Crew: IT/Support teams ensuring seamless functionality.The Spotters: Data Analytics and Reporting experts optimizing performance.The Fuel: High-quality data driving better outcomes.

outboundIQ’s professional services team brings these critical elements together, ensuring clients achieve best-in-class outbound operations that prioritize consumer experience while maintaining a competitive edge.

A Call to Collaboration
With its new CIP certification, outboundIQ invites businesses to explore select partnership opportunities and projects to reimagine their contact center operations. Whether through expedited implementations or ongoing strategic consulting, outboundIQ is committed to driving measurable results for its clients.

About outboundIQ
outboundIQ delivers optimized, outbound-focused contact center implementations, combining years of Five9 expertise with cutting-edge strategies to help businesses achieve exceptional outreach outcomes. As a Five9 Certified Implementation Partner, outboundIQ provides tailored solutions to meet the unique needs of modern organizations.

About Five9
Five9 is a digital enterprise’s leading cloud contact center and software provider. The Five9 Intelligent CX Platform is reliable, secure, compliant, and scalable, designed to create exceptional personalized customer experiences.
www.five9.com

Media contact: 
Sandy Tafur
Phone: 404-660-5314
mail: sandy@outboundiq.com

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SOURCE outboundIQ

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