Technical Illustration Software Market Research Report - Global Forecast till 2027

Global Technical Illustration Software Market Research Report Information By Component (Software and Service), By Organization Size (Small and Medium Enterprise, Large Enterprise), By End-user (IT & Telecommunication, Healthcare, Aerospace & Defense, Energy & Utility, Automotive and others) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2027

ID: MRFR/ICT/8077-HCR | 141 Pages | Author: Ankit Gupta | June 2023         

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Technical Illustration Software Market

Technical Illustration Software Market is expected to record a CAGR of 4.80% during the forecast period, reaching a value of USD 8.7 Billion in 2030.

Segmentation
By Component Software and Service
By Organization Size Small and Medium Enterprise Large Enterprise
By End-User IT & Telecommunication Healthcare Aerospace & Defense Energy & Utility Automotive
Key Players
Companies Profiled   Adobe Systems (US)    Autodesk (US)    Illustration Limited (UK)    SAP SE (Germany)    Lattice Technology (Japan)    PTC (US)    Dassault Systems (France)    The Technical Drawing Company (US)    MAA Illustrations (India)    Cyient (India)    Corel (Canada)    QuadriSpace (US)    Canvas GFX (US)    Ignite Technologies Inc. (US).
Drivers
Market Driving Forces   Technical Illustration Software is driven by the changing entrepreneurial ecosystem of various verticals and the booming entertainment verticals    Technical illustration software makes it easy for illustrators to design technology products within a stipulated timeframe.
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Technical Illustration Software Market Snapshot:


Technical illustration software comprises technical drawings, as well as scientific & medical illustrations of products. The software offers several features needed by illustrators to design technology products. The software helps in the development of both 2D and 3D designs. It allows the creation of detailed technical illustrations with absolute precision and control—from project creation and authoring to the publishing of technical documentation. The software is largely used in technical drawings of medical equipment and the manufacturing of machines. With technical illustration software, all unnecessary detail are omitted. Furthermore, the software offers artistic freedom to use various stylistic devices to support the purpose of illustration. Most of the technical illustration software has sophisticated technical illustration tools, multi-format support, capability for editing metadata, tabbed and split views, and SVG import and export capabilities.


Technical Illustration Software Market is driven by the changing entrepreneurial ecosystem of various verticals and the booming entertainment verticals. Technical illustration software makes it easy for illustrators to design technology products within a stipulated timeframe. Additionally, a number of software providers offer cost-effective solutions that can easily be bought by small and mid-sized companies that usually have budget constraints. The key restraint is the availability of free tools in the market. However, these free tools do not have comprehensive features and capabilities that are required by illustrators to design complex technical products. Therefore, even after the availability of free tools, enterprises invest in procuring proprietary software. This, in turn, minimizes the impact of the restraint on the overall growth of the market.


The technical Illustration Software Market is supposed to record a CAGR of 4.80% during the figure time frame, arriving at a worth of 8.7 billion in 2030.


Technical Illustration Software Market Segmentation:


The Global Technical Illustration Software Market has been segmented based on Component, Organization Size, End User, and Region.


Based on Component, the technical illustration software market has been segmented into solution and service. The service segment is further bifurcated into professional services and managed services. Professional services include integration services, support and maintenance services as well as training services. Managed services are technical designing services offered by third-party providers.


The solution segment accounted for the largest share in the overall market in 2018. Enterprises are deploying such solutions for achieving technical design precision.


Based on Organization Size, the technical illustration software market has been segmented into small and medium enterprise and large enterprise. The small and medium enterprise segment is expected to register the higher CAGR during the forecast period, 2019–2025


Based on End Users, the technical illustration software market has been segmented into IT & telecommunication, healthcare, aerospace & defense, energy & utility, automotive and others. The aerospace & defense segment is expected to register the highest CAGR during the forecast period.


Technical Illustration Software Market Regional Analysis:


Geographically, the Global Technical Illustration Software Market has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.


North America leads the market in terms of market share in the global technical illustration software market. Some of the factors that are responsible for the growth of the market include the continuous demand for comprehensive technical illustration software solutions by enterprises operating in healthcare, manufacturing, and aerospace & defense verticals. The presence of several software providers in the market is another factor that significantly contributed to the growth of the market in North America in the year 2018. North America has been segmented into the US, Canada, and Mexico. According to MRFR analysis, the US is expected to gain the highest market share, followed by Canada and Mexico. The technical illustration software market in this region is expected to grow due to the increasing demand for such solutions among various industry verticals.


Europe has occupied the second position in the market. For the purpose of this study, Europe has been categorized into the UK, Germany, France, Italy, and the rest of Europe. Among these, the UK accounted for the largest share in the overall market. However, the rest of Europe is expected to register the highest CAGR during the forecast period.


Technical Illustration Software Market Companies Covered:


The Key Players of the Global Technical Illustration Software Market are Adobe Systems (US), Autodesk (US), Illustration Limited (UK), SAP SE (Germany), Lattice Technology (Japan), PTC (US), Dassault Systems (France), The Technical Drawing Company (US), MAA Illustrations (India), Cyient (India), Corel (Canada), QuadriSpace (US), Canvas GFX (US), Ignite Technologies, Inc. (US) and Nbg Drafting & Design (US).


Key Developments:


In May 2019, Canvas GFX partnered with Spatial, a subsidiary of Dassault Systems. The partnership has helped the company in streamlining the process of converting CAD files from the top CAD software providers into illustrations and visualizations for service documentation.


In May 2019, Cyient partnered with OneStrand, Inc., to offer interactive technical publication solutions. With this partnership, Cyient delivers technical data to global customers in aerospace, defense, and transport industries in a variety of formats based on clients’ needs, whether print or electronic delivery. Also, clients leverage the new services across the product life cycle and can better manage engineering technical data from initial creation to archiving.


Key Questions Addressed by the Report



  • What was the historic market size (2018)?

  • Which segmentations (component/organization size/end-user) are driving the market?

  • What will be the growth rate by 2025?

  • Who are the key players in this market?

  • What are the strategies adopted by key players?



Report Scope:

Report Attribute/Metric Details
  Market Size    USD 8.7 billion
  CAGR   4.80% 
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Component, By Organization Size
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Adobe Systems (US), Autodesk (US), Illustration Limited (UK), SAP SE (Germany), Lattice Technology (Japan), PTC (US), Dassault Systems (France), The Technical Drawing Company (US), MAA Illustrations (India), Cyient (India), Corel (Canada), QuadriSpace (US), Canvas GFX (US), Ignite Technologies, Inc. (US) and Nbg Drafting & Design (US).
  Key Market Opportunities   The presence of several software providers in the market is another factor that significantly contributed to the growth of the market in North America in the year 2018.
  Key Market Drivers Technical Illustration Software is driven by the changing entrepreneurial ecosystem of various verticals and the booming entertainment verticals.\r\n Technical illustration software makes it easy for illustrators to design technology products within a stipulated timeframe.


Frequently Asked Questions (FAQ) :

The global Technical Illustration Software is expected to record a substantial market valuation of USD 3.89 billion over the review period.

The global Technical Illustration Software is projected to register a moderate 4.6% CAGR in the forecast period.

A few major market players operating in the global Technical Illustration Software are Adobe Systems (US), Autodesk (US), Illustration Limited (UK), SAP SE (Germany), Lattice Technology (Japan), among others.

Key Questions Answered

  • ✅ Global Market Outlook
  • ✅ In-depth analysis of global and regional trends
  • ✅ Analyze and identify the major players in the market, their market share, key developments, etc.
  • ✅ To understand the capability of the major players based on products offered, financials, and strategies.
  • ✅ Identify disrupting products, companies, and trends.
  • ✅ To identify opportunities in the market.
  • ✅ Analyze the key challenges in the market.
  • ✅ Analyze the regional penetration of players, products, and services in the market.
  • ✅ Comparison of major players‚Äô financial performance.
  • ✅ Evaluate strategies adopted by major players.
  • ✅ Recommendations
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