NEWARK, Del, Sept. 01, 2022 (GLOBE NEWSWIRE) -- The global computer aided design (CAD) market is projected to reach US$ 18,570.5 Mn in 2032, with demand growing at a positive CAGR of 6.1% over the duration of 2022 to 2032. Valued at US$ 10, 250 in 2022, the computer-aided design market is propelled by its large-scale application in multiple end-use industries. Many manufacturing industries are increasingly adopting CAD platforms. This bodes well for the future prospects of the computer-aided design market.
An alternative to the manual drafting method, computer-aided design (CAD) is a software that is used for design documentation and manual designing. This software automates mechanical designing and optimizes the manufacturing and development process by producing a detailed image of the product as well as providing information about the material, dimensions, tolerances, etc., of the product. The computer-aided design software is gaining traction due to the growing adoption of different virtual platforms for various processes by industries all over the world. Numerous manufacturing industries are going digital and utilizing CADs for product development. In addition to this, designs produced with the help of CAD platforms are used at various stages of the product’s manufacturing process such as concept verification, design verification, failure verification, and many others.
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The computer-aided design platforms also ensure an enhanced quality of the product during the development phase itself. In recent years, the computer-aided design platforms are largely used in the automotive industry and the original equipment manufacturers (OEMs) are constantly concentrating on bettering the design parameters. Thus, the expanding automotive sector is predicted to boost the sales of the computer-aided design market over the projected period.
“Rising adoption of CAD platforms in various end-use industries, especially in the manufacturing and automotive industries is expected to foster the global market growth of computer-aided design over the forecast period,” says an FMI analyst.
Key Takeaways:
- Heightened application of CADs in the automotive sector to bolster market growth.
- The computer aided design market in North America is mainly driven by additional funding from the U.S.
- Europe is counted as the second largest computer aided design market.
- Asia Pacific is likely to exhibit tremendous demand for the computer aided design market over the forecast period.
- By design type, the 3D segment is expected to dominate the market.
Competitive Landscape
Dassault Systemes, PTC, Nanosoft, VariCAD, Cadonix Ltd., Caddie Software, Kubotek the USA, Autodesk Inc., Siemens Product Lifecycle Management Software Inc., Fuji film Corporation, Graebert GmbH, Trimble Inc., ALPI International Software, and IMSI Design LLC among others are some of the principal players in the computer aided design (CAD) market profiled in the full version of the report.
Major market players are employing strategies like acquisition and mergers to improve their market presence. These businesses are also keen on offering better product with upgraded features to the consumers.
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More Insights into the Computer Aided Design (CAD) Market Report
In its latest report, FMI offers an unbiased analysis of the global computer-aided design cad market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented based on design type (3D computer aided design, 2D computer aided design), operating system (computer aided design for Windows, computer aided design for Unix, computer aided design for Linux, computer aided design for Mac OS X), and region.
According to the latest FMI reports, based on region, the computer aided design market in North America is expected to flourish over the forecast period. Accounting for 39.8% of the global market share in 2021, the regional CAD market is primarily driven by extensive application of CAD platforms in the packaging and manufacturing industries. Additional funding provided by the U.S. government for digitization will likely augment the market growth in this region.
In Europe, the computer aided design (CAD) market will exhibit impressive growth over the assessment period. The region is the second largest revenue generating CAD market, holding about 22.9% of the overall market share. This growth can be attributed to the growing CAD markets in countries like the U.K., France, and Germany. The extensive application of CADs in healthcare has also made significant contributions to the target market growth in this region.
The Asia Pacific computer aided design market is predicted to offer multiple lucrative market opportunities over the forecast period. The region is expected to present rapid growth rate throughout the observation period. Immense development in the region’s engineering and design sector is aiding the regional market growth.
Based on segmentation, by design type, the 3D segment is likely to dominate the market over the forecast period due to increasing demand for precision designing and the rapid digitalization of various industries.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
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