The global workstation software market is forecast to reach the valuation of US$ 28.77 Bn by the end of 2031, as per a study by Future Market Insights (FMI). Computer aided design helps in increasing productivity and undertake mission critical applications. Growing demand for custom built workstations for heavy duty applications such as 3D modeling and product life cycle management will elevate the market growth, evaluated ESOMAR-certified consulting firm Future Market Insights.
According to the study, workstations are found most effective when used in parallel processing to run heavy workloads of multiple sizes. They are capable of handling multi layer graphics, 3D virtual reality applications and fluid dynamics which requires extensive computing power. The versatility of workstation will positively influence the workstation software market growth.
"Growing popularity of 3D design and animation software in engineering and manufacturing industries will intensify the workstation software market demand", remarks the FMI analyst.
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Digital content creation sector is experiencing tremendous growth with the incorporation of smart technologies. It is forecast to grow by 25% by 2026 end.
Flourishing IT, architecture and manufacturing sector in US has fueled the market workstation software market growth.
UK workstation software market is anticipated to expand at 16.2% CAGR by the end of forecast period 2021-2031. The growth is driven by surging demand from automotive manufacturers and development in media and advertising domain.
Lofty government investment towards advancement in cloud computing and digital transformation along with early adoption towards virtual computing drives the market growth in China.
India is a promising prospect regarding workstation software market. Increasing adoption of 3D modeling and rendering technology in construction industry will drive the workstation software market sales.
Rising popularity of gaming culture has lead to development of high quality graphic games paving way for workstation software market growth.
Surging demand for image editing, web content creation and video editing with special effects has led to increase in workstation software market demand.
Adoption of computer aided design and graphics design and other system heavy applications which require multiple gaming processing units and rams will boost the market growth.
Fluctuation in software performance and limited customization for gaming will hamper the market sales.
Unavailability of custom models for job specific applications like engineering will impede the market growth.
High upfront cost of workstation coupled with very niche market base hinders the market growth.
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Leading players profiled by FMI operating in workstation software market include Autodesk, Inc., Unity Technologies, Virtuix, Microsoft Corporation, GIMP, Survios, Enscape, Skylum, Fujitsu, Adobe Inc., Corel Corporation, Dassault Systèmes SolidWorks Corporation, SubVRsive Inc., Luxion Inc, MAXON COMPUTER GMBH. According to FMI, the tier -1 market players like Autodesk, Inc., Fujitsu, Adobe Inc, and Microsoft Corporation dominate the workstation software market holding nearly 40% of global market share. They emphasize on product launches, strategic acquisitions and collaborations and developing their distribution network. Tier-2 and tier-3 market players which hold below 15% market shares are focusing on business expansion and new market penetration.
In June 2020, Autodesk Inc launched "Autodesk Takeoff" which assists the designer to perform 2D and 3D designing estimations from common data reservoir to improve speed and accuracy during the quantification process.
More Insights on FMI's Workstation Software Market
The latest market study on global workstation software market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of workstation software (3D Modeling & Rendering Software, CAD, CAM and CAE Software, Virtual Reality (VR) Software, Image and Video Processing Software), end-user (Engineers, Designers and Architects, Enterprise Software Developers, Gaming and Entertainment, Media and Publishing), and across major regions (North America, Latin America, Europe, South Asia-Pacific, East Asia, and Middle East & Africa).
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Name: Abhishek Budholiya
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Organization: Future Market Insights
Release ID: 89029730