LONDON, Aug. 24, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the 3D CAD software market, the increasing demand from the growing automotive industry is expected to drive the 3D CAD software market in the forecast period. CAD technology is applied in various ways during automotive engineering and designing. It helps in prototyping and offers increased accuracy to reform work processes and to further develop their item plans for business development. In 2021, electric car sales doubled to 6.6 million from 3 million in 2020. Also, the manufacturing of cars in India grew to 30.82 lakh units in 2021, compared to 24.33 lakh units in 2020. Hence, the increasing demand for 3D CAD in the automotive manufacturing industry is expected to drive the market.
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The global 3D CAD software market share is expected to grow from $9.37 billion in 2021 to $10.1 billion in 2022 at a compound annual growth rate (CAGR) of 7.8%. The global 3D CAD software market growth is expected to reach $13.54 billion in 2026 at a CAGR of 7.6%.
Rapid technological advancements are shaping the 3D CAD software market. Technological advancements in 3D CAD software refer to an ability to improve the standard of work by altering the production process with the use of technology to make the process of production efficient, better, and faster. For instance, in March 2022, Autodesk, an American multinational software corporation, unveiled AutoCAD 2023, which will help designers experience better insights, collaboration, and automation of various processes while creating 3D models and designs. The new software allows us to automatically import feedback into drawings, reducing the risk of errors and saving time.
Major players in the 3D CAD software market are Oracle Corporation, Bricsys NV, Autodesk Inc., CAXA Technology Co. Ltd., Siemens PLM Software Inc., ZWSOFT Co. Ltd. Incorporated, Dassault Systèmes, Bentley Systems Inc., Graphisoft SE, Schott Systeme GmbH, SolidWorks Corp., 3D Systems Inc., IronCAD LLC., Trimble Inc., Intergraph Corporation and Graebert GmbH.
The global 3D CAD software market is segmented by deployment outlook into cloud, on-premise; by enterprise size into small business, midsize enterprise, large enterprise; by application into automotive, architecture, healthcare, manufacturing, construction, media and entertainment, engineering, others.
North America was the largest region in the 3D CAD software market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global 3D CAD software market during the forecast period. The regions covered in the global 3D CAD software industry analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
3D CAD Software Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide 3D CAD software market overviews, 3D CAD software market analyze and forecast market size and growth for the whole market, 3D CAD software market segments and geographies, 3D CAD software market trends, 3D CAD software market drivers, 3D CAD software market restraints, 3D CAD software market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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