Provided by BIS Research
A number of drivers are acting towards the growth of the CAD market such a the replacement of manual drafts by CAD drafts in end-use industries, cloud synchronization, inspection agencies, and government initiatives in the product development process.
Despite these drivers, the threat of piracy and the high cost implementation of CAD software because of the perpetual licensing act as a hurdle for the growth of the CAD market. The end-use industries have increased their research and development investment in the CAD technology. Along with this, there is an increase in the demand for CAD technology from emerging economies like China, Brazil, and India. These factors are expected to create a plethora of opportunities in the global CAD market, which is also propelled by the development of haptic tools.
According to a new market research report by BIS Research, titled ‘Global Computer-Aided Design (CAD) Market- Analysis and Forecast (2017-2023)’, the global CAD market is estimated to reach $11.21 billion by 2023, growing at a CAGR of 7% in terms of value. 3D design based CAD solutions dominated the global CAD market with a market share of approximately 70% in 2016, because 3-D based design offers faster product design deliverables as design cycles are shorter and rationalized.
Computer aided design (CAD) has been a trendsetter in the world of industrial designing and has helped in visualizing the future of various industries. A multitude of industries and institutions across the globe have incorporated CAD in their product development process and training programs, respectively, as it provides increased productivity to the designer, improves quality of design, improves communication through documentation, and creation of database for manufacturing. CAD software is widely used for computer animation and special effects in movies, advertising, and other applications where the graphic design itself is the finished product.
The CAD solutions are widely accepted by the end-use industries such as automotive, aerospace, industrial machinery, civil and construction, electrical and electronics, pharmaceutical, and healthcare, consumer goods, and others as it provides unique features for the design of product development processes. The overall growth in CAD market is because of the superior properties exhibited by CAD solutions such as increased productivity, improved product quality, and faster development, better visualization of the final product, constituent parts, and sub-assemblies coupled with lower product development cost. CAD solution speeds up the design process, reduces error leading to easier and robust documentation of the design, including geometries, bills of materials, and dimensions among others. Moreover, the top-line growth is also enabled by enhanced offerings in terms of 3D and 4D designs.
This market report provides a thorough analysis of the global CAD market, with a compilation of various segmentations including market breakdown by CAD technology, operating system, product type, end-use applications, and different geographical regions. While highlighting the key driving and restraining forces for this market, the report also provides a comprehensive section of the application areas of the CAD market. It also examines the role of the leading market players involved in this market.
This report puts special emphasis on the market share and size of the following:
- Autodesk Inventor
- Creo Parametric
The industry analysis has also been undertaken in order to examine the impact of various factors and understand the overall attractiveness of the industry. The report also includes a separate section on company profiles which includes highlights of significant information about the key companies involved, along with their financial summaries and key strategies and developmental activities of recent years. Some of the key players in the CAD market include Dassault Systemes, Autodesk, Siemens PLM Software, PTC, Trimble, MEP, 3D Systems, Kubotek USA, Caddie Software, Aveva Group, Hexagon AB, Bentley Systems, Nemetschek SE, BobCAD CAM., Bricsys NV, Robert McNeel & Associates, TurboCAD, and IronCAD LLC.
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