Industrial Software: A deep dive on AI risks to CAE / PLM software

研报英文原文证据摘录

Industrial Software: A deep dive on AI risks to CAE / PLM software

Global Research

27 July 2026ab

Industrial Software Equities

Europe including UKA deep dive on AI risks to CAE / PLM software

Industrial

Andre Kukhnin

Bottom line Analyst

We recently hosted a call with analysts from Cambashi, a leading market intelligence andre.kukhnin@ubs.com

provider for industrial software, and from Threadmoat, a PLM software market +44-20-7567 2162

intelligence specialist on AI risks in the CAD, CAE and PLM space (replay). While the Michael Briest

overall market outlook appears to be intact (HSD growth), we were surprised by the Analyst

breadth and depth of AI native start-up development with Cambashi tracking $2.3bn of michael.briest@ubs.com

VC funding in AI for CAE specifically and Threadmoat citing $19bn of VC investment in +44-20-7568 8367

AI start ups for broader CAD/PLM software (excluding Prometheus). The acceleration in Taylor McGinnis

compute is substantial and the traditional Design->Simulate->Manufacture stack is Analyst

beginning to shift, with offers extending to nearly co-simulation in design now. taylor.mcginnis@ubs.com

Although this comes across as a substantial threat to incumbents at first sight, we are +1-212-713 1332

somewhat reassured by 1/ the new offerings' ability to create market (democratisation Dini Magoon

of simulation, higher simulation volumes) and 2/ physics backstop for incumbent players Analyst

with proprietary kernels. In light of the above, the recent step up in M&A activity in dini.magoon@ubs.com

AI industrial software (Autodesk-MaintainX, Schneider-Cognite - both >$3bn) comes +44-20-7567 4037

across as less surprising and we believe more should be anticipated. In terms of stock Jarrod Chisholm