The Global Computer Aided Design (CAD) market was valued at USD 8.85 billion in 2019, now it is projected to reach at USD 14.03 billion by 2026, growing at a CAGR of 6.8%, during the forecast period, 2020 to 2026. Surging adoption of modern engineering design and drafting across almost all industrial verticals is driving the market growth.
Computer-aided design (CAD) is the utilization of computers (or workstations) to aid in the creation, modification, analysis, or optimization of a design. CAD software is utilized to boost the productivity of the designer, improve the quality of design, improve communications through documentation, and to make a database for manufacturing. Most of the time, CAD output comes in the form of electronic files for print, machining, or other manufacturing operations. The term CADD (for Computer Aided Design and Drafting) is also utilized.
CAD software for mechanical design utilizes either vector-based graphics to depict the objects of traditional drafting, or may also produce raster graphics showing the overall appearance of designed objects. However, it involves more than just shapes.
As in the manual drafting of technical and engineering drawings, the output of CAD must convey information, such as materials, processes, dimensions, and tolerances, according to application-specific conventions.
Market Trends, Drivers, Restraints, and Opportunities:
- The rising demand can be attributed to a number of factors such as replacement of manual drafts by CAD drafts in end-use industries, cloud synchronization, inspection agencies, and government initiatives in product development process. This factor is projected to drive the market growth, during the forecast period.
- The CAD market momentum further fueled by rapid penetration of commercial Computer Numerical Control (CNC) systems across industrial machinery processes. This is another factor responsible for further driving the market growth.
- Mobile access has become one of the most crucial aspects that organizations and consumers look for in almost every technology. Several, CAD developers are currently deploying some means of accessing the designed data on mobile platforms.
- However, selectivity becomes a big challenge for service providers. Most of the time it is difficult for them to comprehend the profile desired by the employer and is able to customize the process as per their standards. This can be a restraining factor for the market growth.
Key players include Autodesk, BENTLEY SYSTEMS, Dassault Systèmes, HEXAGON, PTC, Siemens, and Trimble.
Companies are aiming at consistent innovations to personalize and differentiate their service offerings for potential customers. Product launches, mergers and acquisitions, and collaborations are some of the key strategies adopted by these players to achieve a competitive edge in the market.
The Global Computer Aided Design (CAD) Market has been segmented on the basis of:
- 3-D Design
- 2-D Design
- Aerospace & Defense
- Industrial Machinery
- Electrical & Electronics
- Media & Entertainment
- Construction & Architecture
- North America
- Latin America
- Middle East & Africa
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Table of Contents
- Executive Summary
- Assumptions and Acronyms Used
- Research Methodology
- Computer Aided Design (CAD) Market Overview
- Global Computer Aided Design (CAD) Market Analysis and Forecast by Type
- Global Computer Aided Design (CAD) Market Analysis and Forecast by Application
- Global Computer Aided Design (CAD) Market Analysis and Forecast by Sales Channel
- Global Computer Aided Design (CAD) Market Analysis and Forecast by Region
- North Computer Aided Design (CAD) Market Analysis and Forecast
- Latin Computer Aided Design (CAD) Market Analysis and Forecast
- Europe Computer Aided Design (CAD) Market Analysis and Forecast
- Asia Pacific Computer Aided Design (CAD) Market Analysis and Forecast
- Middle East & Africa Computer Aided Design (CAD) Market Analysis and Forecast
- Competition Landscape
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