ID: MRFR/ICT/7059-HCR | February 2021 | Region: Global | 111 pages
The Computer-Aided Design (CAD) Market was valued at USD 7.47 Billion in 2018; it is expected to reach USD 14.18 Billion by 2025 with a CAGR of 10.0% during the forecast period, 2019–2025. The market growth is attributed to large scale adoption of 3D CAD software that helps in designing complex structure seamlessly and surge in adoption of CAD tools by contractors for mechanical, plumbing, piping and HVAC sectors that helps them to increase the productivity. Furthermore, the integration of virtual reality with CAD tools is expected to be one of the better prospects for the CAD market growth during the forecast period.
The adoption of CAD helps in generating designs and models that allow industries to improve their productivity in a rapidly changing environment. Also, an increase in the adoption of 3D technology helps the industries to reduce the risk in manufacturing faulty machine parts, thereby increasing the overall productivity of the industries, particularly in construction, automotive and industrial manufacturing.
However, rising security concerns over cloud-based CAD solution and the emergence of building information modelling (BIM) are expected to hinder the growth of the CAD market during the forecast period.
Source: Company Websites, Annual Reports, Primary Interviews, Industry Experts, Whitepapers, Secondary Research, Press Release, and MRFR Analysis
The Global CAD Market has been segmented based on Technology Type, Component, Deployment Mode, Application, Industry, and Region.
By technology, the global CAD market has been divided into 3D technology and 2D technology. Based on the component, the CAD market has been bifurcated into software and services. Furthermore, by services, the market has been sub-divided into installation services, training and Implementation services, system integration services, and other support services.
By deployment model, the market has been segmented into cloud and on-premise.
Furthermore, the application has been divided into surface modelling, 3D printing, reverse engineering, part assembly, and others.
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 Global CAD Market has been categorized on the basis of geography into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
North America accounted for the largest market share in 2018 and expected to dominate the global CAD market during the forecast period. Increasing adoption of 3D CAD in manufacturing sectors and the integration of virtual reality with CAD models by the construction firms are driving the CAD market during the forecast period.
The Asia-Pacific is anticipated to be the fastest-growing geography in the CAD market during the assessment period. The market growth can be attributed to the shift in preference toward subscription-based over license-based models and increase in adoption of CAD training services in the emerging economies such as Indonesia, India, Thailand, and Mynamar.
MRFR identifies some of the Key Players of the Global CAD Market include Autodesk, Inc (US), Trimble Inc (US), Dassault Systèmes (France), Bentley Systems, Incorporated (US), PTC (US), Siemens PLM Software (France), Encore Software (US), Hexagon AB (Sweden), TurboCAD (US), CAD International (Australia), Graebert GmbH (Germany), Corel Corporation, (Canada), SmartDraw, LLC (US), ZWSOFT Co., Ltd (China), Gstarsoft Co., Ltd (China), and ANSYS, Inc. (US).
The vendors operating in the market primarily follow organic and inorganic growth approaches to offer enhanced and seamless cloud-based CAD solutions. The vendors also emphasize strategic collaboration and acquisitions to strengthen its cloud-based CAD solution.
Frequently Asked Questions (FAQ) :
The global computer-aided design (CAD) market is slated to account for a considerable revenue generation of USD 14.18 billion by 2025, from USD 7.47 billion in 2018, expanding at a substantial CAGR of 10% over the review period (2019-2025).
The CAD based designs are comprehensively adopted in automotive industry and the OEMs are constantly focusing on improving the design factors. The swift growth in automotive industry is anticipated to drive the growth of global CAD market.
The global computer-aided design (CAD) market segmentation is conducted based on components, technology type, application, deployment mode, industry, and region.
The regional analysis of the global computer-aided design (CAD) market is conducted in four major regions, comprising Europe, the Asia Pacific, North America, and the rest of the world (covering the Middle East and Africa, and Latin America).
The report estimates the fastest growth in the Asia Pacific, and developed growth in North America and Europe. Furthermore, the rest of the world region is projected to witness a gradual market growth over the forecast period.