Impact of the COVID-19 outbreak on Finite Element Analysis (FEA) Software Market

Finite element (FEA) Software Market: Introduction

• Finite element analysis (FEA) software is used to virtually test and predict the behavior of structures and solve complex structural engineering problems subjected to dynamic and static loading conditions. In addition, FEA software is used to perform simulations structure, which includes linear static and nonlinear quasi-static analyses.
• Finite element analysis (FEA) software is a computerized method to predict how a product reacts to real- world forces such as heat, vibration, fluid flow, and other physical effects. It also predicts the behavior of products affected by physical effects that include mechanical stress, mechanical vibration, fatigue, motion, heat transfer, electrostatics, and plastic injection molding.
• COVID-19 has adversely affected the finite element analysis (FEA) software market, due to decline in production and shutdowns across the world. The situation is exacerbated by staff shortages, and pressure on the existing infrastructure as firms scramble to deal with the impact of COVID-19. Hence, the disruption on manufacturing industries caused by COVID-19 has severe operational, social, and financial consequences, which in turn has affected the growth of the finite element analysis software market.

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Global Finite element analysis (FEA) Software Market:

• Rising new fabrication materials – shape-memory alloys (SMAs) such as Nitinol and composites such as carbon-fiber-reinforced polymer (CFRP), is expected to boost the FEA software market. Introduction of new materials will push software developers to exploit the opportunity in industries.
• The trend of cloud and mobile-based FEA software, which enables designers and programmers to access the software and collaborate on results with anyone and from anywhere across the globe is expected to fuel the FEA software market.
• FEA software also eliminates the hassle of multiple prototypes, product recalls, and consumption of material, which is its major advantage. This drives the growth in R&D facilities across various industries globally, in turn, boosting the FEA software market.