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Computational Fluid Dynamics Market size is set to grow by USD 1.23 billion from 2024-2028, growing need for reduction in product design time and cost to boost the revenue- Technavio

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NEW YORK, Nov. 7, 2024 /PRNewswire/ — Report on how AI is driving market transformation – 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..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

End-user (Aerospace and defense industry, Automotive industry, Electrical and electronics industry, and Others), Deployment (Cloud and On-premises), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

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

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.

Key Market Trends Fueling Growth

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. 

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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.

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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.

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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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Zhejiang Archaeology and Chinese Civilization Series “Rice Cultivation and Oriental Civilization” Exhibition Launched at China Cultural Center in Tokyo, Japan

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TOKYO, Nov. 8, 2024 /PRNewswire/ — The thematic exhibition, “Rice Cultivation and Oriental Civilization”, is now open to public at China Cultural Center in Tokyo, Japan. Running daily from 10:30 to 17:00, from November 6 to 15, 2024, This exhibition is organized by the Zhejiang Institute of Cultural Relics and Archaeology, and is presented from the perspective of Eastern civilization. This exhibition showcases the evolution of prehistoric rice civilization in the lower reaches of the Yangtze River in China over the last 10,000 years, as well as its profound connection with Oriental civilization, through archaeological findings and research outcomes.

Japan and Zhejiang, united by the shared aroma of rice and the richness of civilizations, welcome you to this exhibition with open arms. Besides, a ceremony to inaugurate the exhibition will take place at China Cultural Center in Tokyo at 1 p.m. November 6. The event will feature academic exchanges between top Japanese and Chinese experts in the field of archaeology. You are cordially invited to join us for this enlightening event!

View original content:https://www.prnewswire.com/apac/news-releases/zhejiang-archaeology-and-chinese-civilization-series-rice-cultivation-and-oriental-civilization-exhibition-launched-at-china-cultural-center-in-tokyo-japan-302299687.html

SOURCE Zhejiang Institute of Cultural Relics and Archaeology

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OCKAM LAUNCHES ZERO TRUST CONNECTORS ON SNOWFLAKE MARKETPLACE

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Snowflake customers can now connect every application, data source, and service in their enterprise to the AI Data Cloud with Ockam.

SAN FRANCISCO, Nov. 8, 2024 /PRNewswire/ — Ockam today announced the launch of eight new Connectors on Snowflake Marketplace. Ockam’s Snowflake Connectors will make it possible for joint customers to extend their AI Data Cloud to any federated application, data source and API across their enterprise.

Snowflake customers can now connect every data source in their enterprise to the AI Data Cloud with Ockam.

“The Snowflake Native App Framework and Snowflake Marketplace infrastructure is a game changer,”  said Matthew Gregory, Founder and CEO, Ockam. “I was part of the inception of the Heroku and Azure marketplaces and have experienced how open platforms build unifying ecosystems and strong communities. It’s been a long time coming, but now there’s an AI Data Cloud that’s committed to breaking silos to connect enterprise applications – everywhere.”

Ockam and Snowflake, the AI Data Cloud company, are working together to help joint customers inform business decisions and drive innovations by extending the power of the AI Data Cloud to every application, service, and data source, regardless of their cloud or on-prem footprint. Joint customers can now bring their data to other business critical applications without the risk of exposing data, or applications, to public facing internet gateways. Ockam Connectors create secure, mutually authenticated, point-to-point connections between Snowflake and every application in the enterprise. Previously, some business critical applications have been hard, if not impossible, to connect to Snowflake. Ockam makes it easy to access silos and to build a truly enterprise-wide Data Cloud.

“This collaboration with Ockam underscores our shared motivation to enable organizations to get the most out of their data and secure their environments,” said Tarik Dwiek, Head of Technology Alliances at Snowflake. “By bringing Ockam’s Connectors to the AI Data Cloud, we’re helping organizations to secure their applications, APIs, container services, or data stores across multi-cloud or hybrid infrastructures and accelerate their digital transformation journey.”

Ockam’s Snowflake Connectors add guarantees of data confidentiality, integrity, and authenticity, so you can enforce your enterprise data governance and privacy policies for connections to and from Snowflake. Every cloud app, API, container service, and data store across your multi-cloud or hybrid infrastructure will get its own unique cryptographically provable identity and encryption keys. They individually use their keys to mutually authenticate with their Snowflake AI Data Cloud and establish trusted secure channels across the data platform. All the data that moves through the AI Data Cloud is end-to-end encrypted while in motion. Keys, enrollments, and credentials are safely created, stored, rotated, and revoked automagically so there’s almost nothing to manage.

Snowflake Marketplace is powered by Snowflake’s ground-breaking cross-cloud technology, Snowgrid, allowing companies direct access to raw data products and the ability to leverage data, apps, and AI products quickly, securely, and cost-effectively. Snowflake Marketplace simplifies discovery, access, and the commercialization of data products, enabling companies to unlock entirely new revenue streams and extended insights across the AI Data Cloud. To learn more about Snowflake Marketplace and how to find, try and buy the data, apps and AI products needed for innovative business solutions, click here.

About Ockam

Ockam is simple. There are three things you need to know:

Ockam enables you to build trust between every application, database, SaaS service, code repo, data lake, AI Engine, container, and microservice… everywhere, in any network.Ockam is networkless. We enable you to skip the pain of system administration, IP Backlogs, Allow Lists,VPNs, firewalls, reverse proxies, setting up public endpoints, creating public APIs, and key administration.Ockam is secure-by-design. It is open-source, audited and built in rust. It does the encryption, authentication, key generation, rotation, revocation, and a lot more.

Get Ockam Connectors on Snowflake Marketplace
Learn more at https://www.ockam.io/for/snowflake

Media Contact: Nicholas Ippolito, nicholas@ockam.io 

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SOURCE Ockam.io

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PT SMI Successfully Hosted the ADFIAP International CEO Forum XVII, Sharpens Collaborations to Accelerate Sustainable Development

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BALI, Indonesia, Nov. 8, 2024 /PRNewswire/ — ADFIAP International CEO Forum XVII successfully concluded with over 150 esteemed participants shared common agreement regarding the crucial role of Development Finance Institutions (DFI). The event hosted by PT Sarana Multi Infrastruktur (Persero) (“PT SMI”), a state-owned enterprise under the Ministry of Finance of the Republic of Indonesia, held in Bali, Indonesia, on November 6-8 2024.

Under the forum theme, “Building a Sustainable Future: The Crucial Role of DFIs in a Low Carbon Development Agenda”, the conference brings together CEOs of development banks and ADFIAP member financial institutions to conduct meaningful dialogues, exchange ideas and collaborate on current issues related to sustainable development and climate change challenges as well as financing the development of projects related to climate change faced by many financial institutions. The forum served as a platform for high-level discussions, knowledge sharing and collaboration among key industry stakeholders, which will support the common goals.

As the forum concluded, there are several key takeaways emerge: a. The urgency of climate action is undeniable. DFIs must accelerate the energy transition and adopt sustainable practices across all sectors; b. Collaboration is the key to unlocking the full potential of sustainable development. By working together, DFIs can overcome challenges, share knowledge, and amplify their impact; c. Innovation is the engine of progress. DFIs must embrace new ideas, technologies, and business models to address the complexities of the 21st century; d. The human dimension must be at the heart of DFI’s work. DFI must prioritize social equity, environmental sustainability, and human well-being.

PT SMI was appointed as the host of CEO Forum for the first time, since joining ADFIAP back in 2016. Through its membership in ADFIAP, PT SMI expands networks and builds relationships with financial institutions to collaborate and contribute to sustainable development.

“We are truly privileged to host this important event and appreciate the trust and confidence placed in us by ADFIAP. The theme of this year’s forum, “Building a Sustainable Future: The Crucial Role of Development Finance Institutions in a Low Carbon Development Agenda” couldn’t be more timely. PT SMI is committed to transforming itself into a full-fledged DFI. By focusing on research-based concessional loans and aligning our activities with the principles of People, Planet, Profit, and Prosperity, we aim to maximize our impact on sustainable development”, says Reynaldi Hermansjah, President Director of PT SMI.

Notable speakers from renowned DFIs, government institutions, and international organizations enlightened participants with their expertise and insights. Key topics covered included equitable energy transition, leveraging digital transformation strategies, the role of impact investment in building resilient infrastructure, and ensuring universal water access and sanitation. The delegates were also treated to experience the richness of Balinese culture through a series of tour agendas, enjoying traditional culinary and local arts.

“This year’s CEO Forum proved successful in uniting visions through a number of fruitful discussions. We are aware that the effort for driving sustainable development and combating climate change is still a work in progress. But what we achieved here in Bali in the past few days is definitely essential for us to move forward with our collective agenda of fostering sustainable growth and development in our region and beyond”, says H.E. Dr. Kao Thach, ADFIAP Chairman.

Association of Development Financing Institution in Asia Pacific (ADFIAP) is an association whose members are development banks and other financial institutions involved in the development financing activities in the Asia-Pacific region. Founded in 1976, ADFIAP has a mission to advance sustainable development through its members which currently consist of 94 institutions in 41 countries.

About PT Sarana Multi Infrastruktur (Persero) (“PT SMI”)

PT Sarana Multi Infrastruktur (Persero) (“PT SMI”) was established on February 26, 2009 as a State-Owned Enterprise under the coordination of the Ministry of Finance as a Non-Bank Financial Institution, with a role and mandate to act as a sustainable development agent.

PT SMI has various functions and unique products/features to support the acceleration of infrastructure development which not only functions as an infrastructure financing but also as an enabler through the implementation of a Public Private Partnership (PPP) scheme, which includes various financial institutions, both private and multilateral. PT SMI actively supports the PPP implementation and encourages the acceleration of infrastructure development in the regions through regional loan products.

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SOURCE PT Sarana Multi Infrastruktur (Persero)

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