Rapid Adoption of 3D Technology in Industries is Likely to Drive the Growth of the Global Computer-Aided Design (CAD) Market during the Forecast Period (2022–2030) :

MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Computer-Aided Design (CAD) Market.

Market Highlights

According to MRFR analysis, the Global CAD Market was valued at USD 7.47 Billion in 2018 and is expected to reach USD 17.6 Billion by 2030, at a CAGR of 6.2 % during 2022–2030. Factors driving the growth of the market include rising government initiatives to develop smart cities that allow real-estate sector to build smart space buildings and infrastructure, a rise in adoption of cloud-based 3D CAD software, 3D modeling in public infrastructure that includes energy and utilities and construction, and adoption of 3D printing in manufacturing sectors. Additionally, the integration of 3D CAD tools with virtual reality is expected to be one of the new revenue pockets for the CAD market during the forecast period.

On the other hand, the adoption of building information modeling (BIM) solutions and cloud-based CAD solutions may eventually lead to data breaches; these are likely to hinder the growth of the CAD market during the forecast period.

The global CAD market has been segmented based on technology, component, deployment mode, application, industry, and region.

Based on technology, the CAD market is bifurcated into 3D technology and 2D technology. The 3D technology segment is expected to gain a larger market share in 2018 and expected to exhibit a higher CAGR during the forecast period. The market growth is attributed to better functionalities offered by 3D than 2D technology. This allows the engineers to develop rapid prototypes of the working models of a part followed by evaluating designs before the models are passed for large-scale manufacturing. However, the 2D technology is expected to register sluggish growth during the forecast period.

By component, the global CAD market has been bifurcated into solutions and services. Furthermore, based on services, the CAD market has been subdivided into installation services, training and Implementation services, system integration services, and other support services. The solution segment is expected to be a higher market share in 2018 and is expected to grow at a significant rate during the forecast period. However, the services segment is expected to exhibit a higher CAGR during the forecast period owing to a lack of expertise in installing and implementing the 3D and 2D software. Also, dependence on third-party providers and an increase in the need for customized solutions are likely to drive the services segment in the CAD market during the forecast period.

By deployment model, the market has been segmented into cloud and on-premise. The cloud segment is presumed to be the higher growth rate in the market owing to the availability of seamless cloud-based solutions that can be easily integrated with various applications such as surface modeling and 3D printing segments. However, the on-premise segment is being still preferred over the cloud solution owing to security concerns.

Based on application, the market has been segmented into surface modeling, 3D printing, reverse engineering, part assembly, and others. Furthermore, the 3D printing segment accounted for the largest share in 2018 and is expected to register the highest CAGR. Increasing demand for better visualization experience and reduction in manufacturing cost and process downtime are some of the driving factors for the growth of the market, whereas the surface modeling segment is expected to exhibit a significant CAGR during the assessment period.

Based on industry, the global CAD market has been categorized into automotive, electrical and electronics, civil and construction, energy and materials, industrial equipment, media and entertainment, and others. The automotive segment accounted for the largest market share in 2018 owing to the increase in demand for developing a rapid prototype of the parts, thereby moving to large-scale production. This would eventually reduce the maintenance & repair costs and increase the efficiency of the product. However, the electrical and electronics segment is projected to register the highest CAGR during the forecast period. The market growth is due to the greater demand for flexible and wearable electronics products that require a flexible design in developing miniaturized electronic products.

Key Players

The key players in the Global CAD Market are identified by MRFR include Autodesk, Inc (US), Siemens PLM Software (France), Corel Corporation, (Canada), ANSYS, Inc (US), Trimble Inc (US), SmartDraw, LLC (US), PTC (US), ZWSOFT CO., LTD (China), Gstarsoft Co.,Ltd. (China), Encore Software (US), Hexagon AB (Sweden), Dassault Systèmes  (France), Bentley Systems, Incorporated (US), Graebert GmbH (Germany), TurboCAD (US), and CAD International (Australia).

Browse Full Report Details @ https://www.marketresearchfuture.com/reports/computer-aided-design-market-8531

Regional Analysis

By region, the global CAD market has been segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.

North America accounted for the largest market in 2018. The market in the region is driven by the US and Canada owing to the early adoption of cloud-based tools and the presence of a number of vendors offering enhanced CAD solutions that include Autodesk Inc, and Trimble Inc.

Asia-Pacific gained the third spot in the CAD market due to the increasing number of startups offering services in the emerging economies that include Indonesia, China, and India and government initiatives in developing smart infrastructure.