Computer Aided Design (CAD) Market to Touch USD 14.18 Billion by 2025
New York, US, July 01, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global CAD Market information by Technology, by Components, by Deployment Mode and Region – forecast to 2027” market size to grow at a compound annual growth rate of 10.0%.
CAD Market Scope:
Computer aided design or CAD, simply put, is a software that is used for the creation, analysis, modification, and optimization of designs. It is used to draw layout, change, edit, and analyze the design.
CAD includes creating computer models that is defined by geometrical parameters. Such models generally appear on computer monitor as three-dimensional representation of a system or a part of parts that can be altered readily by changing relevant parameters. These systems allow designers in viewing objects under different representations and testing such objects via stimulating real-world conditions.
Dominant Key Players on CAD Market Covered Are:
ANSYS Inc. (US)
ZWSOFT Co. Ltd (China)
SmartDraw LLC (US)
Corel Corporation (Canada)
Graebert GmbH (Germany)
CAD International (Australia)
Hexagon AB (Sweden)
Encore Software (US)
Siemens PLM Software (France)
Bentley Systems Incorporated (US)
Dassault Systèmes (France)
Trimble Inc (US)
Autodesk Inc (US)
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Market USP exclusively encompassed:
According to the MRFR report, there are numerous factors that are propelling the global computer aided design market growth. Some of these entail the large scale adoption of 3D CAD software that helps to design complex structure seamlessly, growing adoption of CAD tools by contractors for HVAC sectors, piping, plumbing, and mechanical that aids to boost productivity, the integration of virtual reality with CAD tools, rising adoption of modern engineering design and drafting across every industry vertical, and rapid penetration of commercial computer numerical control (CNC) systems. The additional factors adding market growth include the increasing adoption of computer aided design software by the manufacturing industry, growing use of virtual platforms for manufacturing purposes and product designing, 3D printing, smartphone access to CAD, and development of cost-effective computer aided design.
On the contrary, high price of CAD software, the emergence of building information modeling (BIM), and rising security concerns about cloud-based CAD solution may impede the global computer aided design software market share over the forecast period.
Browse In-depth Market Research Report (111 Pages) on Computer Aided Design:
Segmentation of Market covered in the research:
The MRFR report highlights an inclusive analysis of the global computer aided design software market based on industry, application, deployment mode, component, and technology type.
By technology, the global computer aided design market is segmented into 2D and 3D technology. Of these, the 3D technology segment will lead the market over the forecast period.
By component, the global computer aided design market is segmented into services and solutions. The services segment is again bifurcated into system integration services, training and implementation services, installation services, and other support services. Of these, the solutions segment will dominate the market over the forecast period.
By deployment model, the global CAD market is segmented into on-premise and cloud. Of these, the cloud segment will spearhead the market over the forecast period.
By application, the global CAD software market is segmented into part assembly, reverse engineering, 3D printing, surface modeling, and others. Of these, 3D printing will have the lions share in the market over the forecast period.
By industry, the global computer aided design software market is segmented into media and entertainment, industrial equipment, energy and materials, civil and construction, electrical and electronics, automotive, and others. Of these, the automotive segment will command the largest share over the forecast period.
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North America to Remain Domineer in CAD Market
Geographically, the global computer aided design market is bifurcated into Europe, North America, South America, the Asia Pacific, & the Middle East & Africa (MEA). Of these, North America will remain domineer in the market over the forecast period. Rising adoption of 3D CAD in manufacturing sectors, integration of virtual reality with CAD models by the construction firms, growing adoption of mechanical CAD software in the auto industry, rising adoption of cloud based mechanical CAD software in mechatronics industry, and growing adoption in the aerospace and defense industry for product prototyping for facilitating the process of creating, imaging, and refining aircraft designs are adding to the global computer aided design market growth in the region.
APAC to Grow at Fast Pace
In the APAC region, the global computer aided design market is predicted to grow at a fast pace over the forecast period. Shift in preference towards subscription-based models over license-based models, increasing adoption of CAD training services in the emerging economies of Myanmar, Thailand, India, and Indonesia, increasing use of CAD technology to design different infrastructure and various instruments, the increasing growth of the auto industry, rising investments in the healthcare industry, rapid adoption of CAD designs for development of medical devices, Japan holding a major share in mechatronics and robotics industry, wide adoption of CAD software in India, Japan, and China, growing use of the technology to develop advanced medical devices and diagnostic tools, and the increasing investments in the automotive, manufacturing, construction, and defense are adding to the global computer aided design market growth in the region.
In Europe, the MEA, and South America, the global computer aided design market will have sound growth over the forecast period.
COVID-19 Impact on the Global CAD Market
The global computer aided design market has faced the brunt of the COVID-19 pandemic. The economic consequences of the outbreak, the disruptions in supply chain, the fluctuations in demand share, and the long-term and immediate impact of the crisis on the growth matrix have had a negative impact on the market growth.
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