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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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Coway Announces Financial Results for Q3 FY2024

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SEOUL, South Korea, Nov. 8, 2024 /PRNewswire/ — Coway Co., Ltd., the “Best Life Solution Company,” has announced its financial results for the third quarter of 2024.

“We continue to secure new customers, having seen our rental accounts exceed 10 million by merit of strong sales growth both domestically and internationally, and are also maintaining stable contract retention,” said Soon Tae Kim, Coway’s Chief Financial Officer. “For the remainder of this year and beyond, we will continue to prioritize research and development that drives product innovation and digitalization, and will also strive to maintain our robust performance growth.”

Coway’s reported earnings are as follows:

Third quarter revenue: KRW 1,100.3 billion (+9.2% YoY)Third quarter operating profit: KRW 207.1 billion (+6.0% YoY)

* The reported figures are taken from the consolidated K-IFRS (International Financial Reporting Standards) statement.

Cumulative revenue for 2024 now stands at KRW 3,184.4 billion (+7.5% YoY) with an operating profit of KRW 612.0 billion (+8.3% YoY).

In South Korea, domestic business generated KRW 660.8 billion in revenue for the third quarter, up 9.9% from last year. This increase has been attributed to steady sales of the ‘Icon Ice Water Purifier’ during the summer months, as well as the ongoing popularity of the BEREX lineup of mattresses and massage chairs. The net increase in domestic rental accounts during the third quarter, totaling 102,000 accounts, more than doubled compared to the same period last year. Furthermore, the cumulative net increase for the first three quarters of this year amounts to 245,000 accounts, a figure that has already surpassed last year’s total net increase of 193,000 accounts.

Coway’s overseas subsidiaries also showcased strong growth in the third quarter, with a revenue report of KRW 391.5 billion, a 7.8% year-on-year increase. Of note among these were the Malaysia subsidiary, which achieved a revenue of KRW 293.4 billion with an 8.8% year-on-year increase, and the Thailand subsidiary, which continued to expand its growth trajectory with revenue of KRW 32.5 billion and an 8.9% year-on-year increase.

For additional details about Coway’s financial performance, please visit the company’s Investor Relations page.

About Coway Co., Ltd. 
Established in Korea in 1989, Coway, the “Best Life Solution Company,” is a leading environmental home appliances company making people’s lives healthy and comfortable with innovative home appliances such as water purifiers, air purifiers, bidets, and mattresses. The company’s most recent venture, the BEREX brand, aims to improve sleep and wellness through cutting-edge mattresses and massage chairs. Since being founded, Coway has become a leader in the environmental home appliances industry, with intensive research, engineering, development, and customer service. The company has proven dedication to innovation with award-winning products, home health expertise, unrivaled market share, customer satisfaction, and brand recognition. Coway continues to innovate by diversifying product lines and accelerating overseas business in Malaysia, USA, Thailand, China, Indonesia, Vietnam, Japan, and Europe, based on the business success in Korea. For more information, please visit http://www.coway.com/ or http://newsroom.coway.com.

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SOURCE Coway Co., Ltd.

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AfricaCom 2024: IPLOOK Set to Make a Splash in Cape Town!

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HONG KONG, Nov. 8, 2024 /PRNewswire/ — IPLOOK, a leading 4G/5G/6G core network expert and solution provider, announces its participation in AfricaCom 2024, which will be held in Cape Town, South Africa. As a frontrunner in delivering customizable mobile 3G/4G/5G/6G core network solutions, IPLOOK is excited to showcase its expertise and build on its already impressive track record of successful projects in the African continent.

At AfricaCom 2024, IPLOOK will be joining the most influential names in the ICT industry, with a focus on expanding its impact in the African market. IPLOOK’s MNO solutions, MVNO solutions, and FWA solutions have been specifically designed to cater to the unique challenges faced by businesses in Africa. These solutions offer reliable, high-speed connectivity that is essential for driving growth and promoting socio-economic development.

With its participation in AfricaCom 2024, IPLOOK aims to empower more African businesses with the tools and platforms they need to succeed in the global marketplace. As an established player in the African market, IPLOOK seeks to strengthen its connections with local stakeholders and explore new avenues for collaboration.

IPLOOK invites all AfricaCom 2024 attendees to visit its booth F72, where they can learn more about the company’s turnkey solutions and explore how they can benefit their businesses. Don’t miss this opportunity to connect with one of the leading names in core network solutions.

Stay tuned for more updates on IPLOOK’s participation in AfricaCom 2024, and get ready to experience the future of connectivity in Cape Town!

info@iplook.com

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ATFX Connect and Your Bourse Form a Strategic Alliance in Liquidity Services

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HONG KONG, Nov. 8, 2024 /PRNewswire/ — ATFX Connect is excited to announce its partnership with Your Bourse, a leading provider of Platform-as-a-Service solutions for FX and CFD liquidity management. This collaboration aims to enhance liquidity options for brokers by combining ATFX’s extensive service portfolio with Your Bourse’s capabilities. Together, we are committed to improving operational efficiency and supporting sustainable growth for a diverse range of clients by delivering effective solutions to optimize trading operations.

A Match to Be Made

This collaboration allows us to enhance our service offerings by integrating Your Bourse’s innovative technology with our custom liquidity solutions. By combining our strengths, we can provide brokers with a seamless trading experience that includes the below:

Enhanced Trading Technology with a Seamless Experience
The partnership integrates Your Bourse’s ultra-fast trade execution capabilities with ATFX’s Prime of Prime services, creating a powerful infrastructure for brokers. This collaboration minimizes latency, enabling quick and efficient trade execution. Brokers can seamlessly integrate their platforms for real-time execution, reducing operational friction and allowing them to focus on strategic growth while optimizing their trading strategies to boost profitability.

Tailored Liquidity Solutions
By leveraging Your Bourse’s advanced platform features alongside ATFX’s global market access, brokers can fully customize their trading environments to meet the diverse needs of their clients. This flexibility allows brokers to adjust liquidity settings, spreads, and execution parameters, delivering personalized trading experiences that enhance client satisfaction and loyalty.

Comprehensive Risk Management with Diverse Liquidity Options
Together, Your Bourse and ATFX offer a suite of risk management tools that help brokers navigate market fluctuations effectively. Access to a broad spectrum of Tier 1 liquidity from both bank and non-bank sources further enhances trading options, improving pricing and execution quality. With these resources, brokers can set risk thresholds, monitor exposure in real-time, and implement strategies to mitigate potential losses, ensuring reliability in their trading operations.

Innovative Solutions for a Better Trading Experience

The collaboration between Your Bourse and ATFX Connect introduces a suite of innovative solutions designed to empower brokers in today’s dynamic market. By integrating cutting-edge technologies and tailored services, this partnership equips brokers with powerful tools for improved trade execution and risk management. Brokers can leverage Your Bourse’s advanced Liquidity Aggregation capabilities alongside ATFX’s diverse liquidity pools, allowing for optimal pricing and faster order execution. Additionally, features like customizable MT4/MT5 Bridge integrations streamline trading operations, while real-time analytics and alerts help brokers monitor their positions effectively. This comprehensive approach not only enhances operational efficiency but also supports brokers in delivering exceptional trading experiences that meet the evolving needs of their clients.

Premium Liquidity Program by Your Bourse with ATFX Connect

At ATFX, we are proud to support brokers in their participation in the Premium Liquidity Program offered by Your Bourse. By selecting ATFX as their liquidity provider, brokers can access a suite of enhanced services, including custom price and volume multipliers, advanced order routing, and real-time reporting capabilities. These tools enable brokers to manage their operations efficiently and profitably. Additionally, brokers can utilize Your Bourse’s services at no cost when they sign up with ATFX, making this a valuable opportunity to leverage high-quality solutions without any extra expense. This collaboration is designed to help brokers optimize their trading strategies and improve their service delivery to clients.

Conclusion

In summary, the partnership between ATFX Connect and Your Bourse significantly enhances liquidity services for brokers. By leveraging our combined strengths, we offer innovative solutions that improve trading operations and risk management. This collaboration equips brokers with the essential tools for success in a competitive market, driving growth for all.

About ATFX
ATFX is a leading global fintech broker with a local presence in 23 locations and licenses from regulatory authorities, including the UK’s FCA, Cypriot CySEC, UAE’s SCA, Australian ASIC, and South African FSCA. With a strong commitment to customer satisfaction, innovative technology, and strict regulatory compliance, ATFX provides exceptional trading experiences to clients worldwide.

For further information on ATFX, please visit the ATFX website: https://www.atfx.com.

About ATFX Connect
ATFX Connect is a trading name of AT Global Markets (UK) Limited, which is authorised and regulated by the Financial Conduct Authority. ATFX Connect’s bespoke liquidity offerings are available to institutions, hedge funds, broker-to-broker, family offices, asset managers, and High-Net-Worth Individuals.

ATFX Connect supports institutional clients by providing them with direct market access to liquidity from T1 banks and non-bank providers in Spot FX, Precious Metals, and CFDs. In addition, the flexible infrastructure enables ATFX to manage aggregation and pricing and allows integration with any third-party platform.

AT Global Markets (UK) Limited is part of the ATFX Group. For further information on ATFX Connect, please visit the ATFX Connect Website: https://www.atfxconnect.com

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