ID: MRFR/ICT/6763-CR | 111 Pages | Published By Ankit Gupta on August 2019
The Electrical Computer-Aided Design (ECAD) Market is expected to 5.37 Billion register a 8.94% CAGR Forecast By (2020-2030).
Global Electrical Computer-Aided Design (ECAD) Market is expected to register a 8.94% CAGR, exhibiting significant growth during the forecast period. The market was valued at USD 1,710.1 million in 2018; it is expected to reach USD 5.37 Billion by 2030. North America accounted for the largest market value of USD 620.4 million in 2018; the market is expected to register a CAGR of 8.94% during the forecast period.
Electrical computer-aided design (ECAD) is a real-time standalone, easy-to-use, multi-user electrical design tool that helps in efficiently defining the electrical interconnections for complex electrical systems. It helps in designing circuits quickly, accurately, and efficiently by optimizing the overall design process. This software assist engineers in creating electrical schematic designs and systems seamlessly and at a rapid pace as compared to traditional, by-hand methods with higher accuracy and precision. This software is widely used to automate tasks such as updating components lists, connection lists and wire numbering, enabling electrical standards within the drawing, intelligent copying, communication with PLC I/O tools, and filling out bills of materials (BoM), among others. Major ECAD software provides extensive symbols & parts libraries, live parts price and its availability data, and 2D cabinet layout facility, among others. ECAD is used for different purposes such as diagram making, 3D assembly, concurrent designing, and generating manufacturing and documentation.
Global Electrical Computer-Aided Design (ECAD) Market, By Industry Type (2018 Vs 2024)
Source: MRFR Analysis
Based on type, the market has been classified as process industry and discrete industry. The discrete industry or discrete manufacturing primarily comprises the industrial manufacturing, automotive, aerospace, and electronics industries. Discrete manufacturing involves the production of distinct products that can be combined or integrated with another product. Discrete manufacturing is used in situations of high-precision, low volume or low-precision, and high-volume manufacturing. The process industry or process manufacturing, on the other hand, involves continuous or batch processing/manufacturing. The major industries involved in process manufacturing include food & beverages, chemicals, pharmaceuticals, petroleum, coal & mining, rubber, paper & pulp, and wood. Various engineering tools and software are used in the process industry to practice advanced industrial engineering techniques.
The manufacturing and production process within the process industry highly complex that includes large, complex configurations of equipment working simultaneously. Furthermore, increasing challenges such as the growing focus on safety and environmental concerns, the growing viability of new energy sources, and the rising cost of products have combined to create a new set of competitive pressures on designers and engineers who develop equipment and systems for the process industry. ECAD is an effective 3D product development solution that improves the manufacturing and design processes, accelerates time-to-market, controls development costs, improves product quality, and aids in increasing cash flow and profit margins. However, a lack of technical expertise might hamper market growth.
The global electrical computer-aided design (ECAD) market, by region, has been segmented into Asia-Pacific, North America, Europe, and the rest of the world. North America is expected to dominate the global electrical computer-aided design (ECAD) market during the forecast period due to the increasing number of process and discrete industries and high investments in industrial manufacturing in the region.
The key players of the global electrical computer-aided design (ECAD) market are Dassault Systèmes SE, EPLAN Software & Service, Siemens PLM, Autodesk, Inc., Trimble, Inc., Bentley Systems, Inc., Nemetschek SE, IGE+XAO, and ALPI International Software, among others.
Key questions addressed by the report
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Component, by Industry Type, by Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Dassault Systèmes SE, EPLAN Software & Service, Siemens PLM, Autodesk, Inc., Trimble, Inc., Bentley Systems, Inc., Nemetschek SE, IGE+XAO, and ALPI International Software|
|Key Market Opportunities||ECAD is an effective 3D product development solution that improves the manufacturing and design processes, accelerates time-to-market, controls development costs, improves product quality, and aids in increasing cash flow and profit margins. However, a lack of technical expertise might hamper market growth.|
|Key Market Drivers||North America is expected to dominate the global electrical computer-aided design (ECAD) market during the forecast period due to the increasing number of process and discrete industries and high investments in industrial manufacturing in the region.|
A CAGR figure of 8.94% is expected to be observed in the market.
The income level of USD 5.37 Billion is expected by 2030.
The shortage of technical expertise in the market is expected to impede the overall market growth.
Siemens PLM, Nemetschek SE, Autodesk, Inc., Trimble, Inc., EPLAN Software & Service, and Bentley Systems, Inc. are the major stakeholders of the market’s growth.
The increased incorporation of automation in process-based industries is expected to create novel opportunities for growth in the forecast period.
The North American region with a 7.94% CAGR is expected to encourage global market development.
The applications of 3D assembly, diagram making, concurrent designing are increasing its growth.