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LONDON–(BUSINESS WIRE)–Technavio analysts forecast the global finite element analysis (FEA) market to grow at a CAGR of over 13% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global FEA market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of FEA software only.

FEA helps to evaluate the functionality of a given product design before its prototype is produced. It is used in various manufacturing industries for estimation of structural strength and behavior, modeling, simulation, and design optimization. The use of FEA software helps end-users to produce quality products, reduce cost, provide better product design, and fasten the product development time. It is mainly used across the automotiveaerospace and defense, electrical and electronics, and industrial machinery industries. Read more..