NEWARK, Del, Sep 01, 2022 (GLOBE NEWSWIRE) — The global computer-aided design (CAD) market is expected to reach US$18,570.5 million in 2032, with demand growing at a positive CAGR of 6.1 % over time of 2022 by 2032. Valued at US$10,250 in 2022, the Computer Aided Design market is propelled by its wide-scale application across 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 software used for design documentation and manual design. This software automates mechanical design and optimizes the manufacturing and development process by producing a detailed image of the product as well as providing information on the material, dimensions, tolerances, etc., of the product. Computer-aided design software is gaining momentum due to the increasing adoption of different virtual platforms for various processes by industries around the world. Many manufacturing industries are going digital and using CAD for product development. In addition to this, the designs produced using CAD platforms are used in different stages of the product manufacturing process such as concept verification, design verification, failure verification and many more. others.
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Computer-aided design platforms also ensure better product quality during the development phase itself. In recent years, computer-aided design platforms have been widely used in the automotive industry, and original equipment manufacturers (OEMs) are constantly focusing on improving design parameters. Thus, the expanding automobile sector is expected to boost the sales of the computer aided design market during the projected period.
“Rising adoption of CAD platforms in various end-use industries, especially in manufacturing and automotive industries, is expected to drive the growth of the global computer-aided design market over the forecast period,” says an IMF analyst.
Key points to remember:
- Increased application of CAD in automotive sector to support market growth.
- North America Computer Aided Design Market is Primarily Driven by Additional Funding from the United States
- Europe is considered the second largest computer-aided design market.
- The Asia-Pacific region is expected to show huge demand for the computer-aided design market over the forecast period.
- By design type, 3D segment is expected to dominate the market.
Dassault Systemes, PTC, Nanosoft, VariCAD, Cadonix Ltd., Caddy Software, Kubotek 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 major Computer Aided Design (CAD) market players profiled in the full version of the report.
Major players in the market are using strategies such as acquisitions and mergers to improve their presence in the market. These companies also want to provide consumers with a better product with improved features.
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More information about 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 historic data from 2017 to 2021 and forecast statistics from 2022 to 2032. To understand the potential, growth, and scope of the Global market, the market is segmented on the basis of 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 computer for Linux, computer-aided design for Mac OS X) and region.
According to the latest IMF reports, based on the region, the computer aided design market in North America is expected to flourish during the forecast period. Accounting for 39.8% of the global market share in 2021, the regional CAD market is primarily driven by the extensive application of CAD platforms in the packaging and manufacturing industries. Additional funding provided by the US government for digitization is likely to increase market growth in this region.
In Europe, the computer-aided design (CAD) market will show impressive growth over the assessment period. The region is the second largest revenue-generating CAD market, holding around 22.9% of the overall market share. This growth can be attributed to the growth of CAD markets in countries like the UK, France and Germany. The extensive application of CAD in healthcare has also contributed significantly to the growth of the target market in this region.
The Asia Pacific computer aided design market is expected to offer multiple lucrative market opportunities over the forecast period. The region is expected to exhibit a rapid growth rate throughout the observation period. The immense development of the engineering and design sector in the region is contributing to the growth of the regional market.
Based on segmentation, by design type, 3D segment is expected to dominate the market over the forecast period owing to growing demand for precision design and rapid digitization of various industries.
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis of the technology roadmap
1.5. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
3. Market context
3.1. Market dynamics
3.2. Scenario forecast
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