Computer-Aided Design (CAD) Market 2020 to 2027 – Market Share, Growth, Industry Segments, Competitor Landscape, Key Players, Trends and Forecasts
In the uncertain time of COVID-19, Market Research Future has come with the latest study on the global Computer-Aided Design (CAD) Market 2020. The survey enclosed the impact of COVID-19 on the economy. On this, MRFR reveals the global market earlier achieved a valuation of USD 7.47 Billion in 2020 and would scale up to USD 14.18 Billion by 2027. This valuation could achieve while at a pace of 10.0% growth rate. The evaluation of the escalation would take place during the years (2020 to 2027)—the forecasted period.
Top Impacting Factors
The acceptance of CAD design platform in assorted manufacturing industries and disciplines to generate models and drawings is the foremost driver for the development of the global CAD market. The mounting adoption of virtual platforms for product development in manufacturing industries is likely to motivate the consumption of CAD software.
The CAD-based designs are used throughout the life cycle of a product and at different stages such as concept verification, design verification, and failure verification. The manufacturers adopt the execution of CAD software in the product development phase as it aids in improving the quality of the product. The CAD-based designs are extensively used in the automotive industry, and the OEMs are consistently focusing on advancing the design parameters. The rapid growth in the automotive industry is what expected to propel the growth of the global CAD market for future timeframe.
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On a similar note, the emerging era of digitalization of the manufacturing process has led to the surged efficiency of the product development process. Before the era of digitalization, the designs of the prototype were drafted manually that led to the delay in the production time and were manually calculated. However, with the introduction of computer-aided design software packages, not only the efficiency of the designing and production process has enhanced, but it also led to more creativity in the designs by various engineers and designers. The digitalization of designs has now allowed the designers to explore and innovate products in multiple end-user industries such as healthcare, automotive, electronics and electrical, and among others.
The absolute rise in aerospace and defence industry, building and construction industry, industrial machinery industry and more have influenced the growth of global computer-aided design market. On the contrary, the factor of rising security concerns over cloud-based CAD solution and the emergence of building information modelling (BIM) might create hindrance to the growth of the computer-aided design market in the forecast period.
The global computer-aided design market has been segmented among technology type, component, deployment mode, application, and industry.
In terms of the technology segment, the market has included 3D technology and 2D technology.
In terms of component, the market has included software and services. Among these, the services have been sub-divided into system integration services, training and implementation services, installation services, and other support services.
In terms of deployment model, the market has included cloud and on-premise.
Furthermore, the application segment has included 3D printing, surface modelling, part assembly, reverse engineering, and others.
In terms of industry, the market has included electrical and electronics, automotive, energy and materials, civil and construction, media and entertainment, industrial equipment, and others.
The global CAD market has been studied into main regions, namely North America, Latin America, Europe, Asia Pacific and the Middle East and Africa.
Europe grabs the significant share in the global CAD market owing to the incidence of the well-established automotive industry in the region. North America also grabs a significant share of the global CAD market in support of the rising adoption of cloud-based mechanical CAD software in the mechatronics industry. This is anticipated to boost the growth of the CAD market in the region.
APAC is likely to project significant growth during the assessment period. There is a rise in investments in the healthcare industry and the rapid adoption of CAD designs for the development of medical devices in the region. Also, the brisk growth of the automotive industry is projected to boost the escalation of the CAD market in the region. In the APAC region, Japan owns a significant share in robotics and mechatronics industry, which is probable to boost the growth of the CAD market in the country.
Some of the primary players in the global CAD market are Trimble Inc (US), Autodesk, Inc (US), Bentley Systems, Incorporated (US), Dassault Systèmes (France), Siemens PLM Software (France), PTC (US), Hexagon AB (Sweden), Encore Software (US), CAD International (Australia), TurboCAD (US), Corel Corporation, (Canada), Graebert GmbH (Germany), ZWSOFT Co., Ltd (China), SmartDraw, LLC (US), and ANSYS, Inc. (US).
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Table of Contents
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Market Structure
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