ECAD software is the largest product segment of global CAD market in electrical and electronics industry, and accounted for a share of around 86%, in 2016 says Technavio.
Technavio has announced its latest market research report on CAD for the forecast period, 2016-2020. This market analysis, under the product lifecycle management vertical, discusses the major drivers and key emerging trends that will influence the growth of the global CAD market in electrical and electronics industry during the forecast period. Some of the top vendors listed in this industry analysis include Cadence Design Systems, Synopsis, Mentor Graphics, Siemens PLM Software, and Dassault Systèmes.
Among various regions, APAC will be the fastest-growing region in the global market, expected to contribute revenues of around $1041 million by 2020. China being home for several electronic equipment manufacturers, will emerge as the key revenue-generator.
“The major trend gaining popularity in this market is the shift toward 4-D CAD. The electricals and electronics industry are steadily shifting from 3-D to 4-D CAD models. Vendors are integrating additional features and functionalities in their solutions to enhance customer experience. They are developing 4-D CAD solutions for improved operational performance. Further, to enhance the constructability and sequencing of construction schedules, they are employing better project execution strategies,” says Ishmeet Kaur, an industry expert at Technavio for research on product lifecycle management.
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This new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Growth in global medical electronics market
The global medical electronics market is expected to grow at a CAGR of nearly 6% during the forecast period. CAD is broadly used for designing PCB and ICs for medical electronics devices. Medical electronics include all electronic devices that are used for treating and diagnosing diseases. An increase in urbanization has created the need for enhanced healthcare facilities, which has been a major driving force for medical electronics. Emerging countries such as India and China are the major players in medical electronics due to the increasing need for developing healthcare standards in the country.
Increased demand for smartphones and tablets
CAD is extensively used for designing smartphones and tablets. The global electrical and electronics industry experiences an increase in the production and demand for smartphones and tablets. Consumers, these days, prefer accessing internet facilities without time and location constraints. They require web applications for many purposes such as viewing multimedia content, browsing the internet, video calling, gaming, and social networking which are well supported by smartphones and tablets. Growing consumer preferences are compelling smartphone and tablet providers use innovative technology, hardware, and software to develop such products in the market.
Growing demand for CAD from semiconductor industry
The semiconductor industry is one of the major contributors to the overall revenue of the CAD market. CAD helps the industry decrease the complexity and difficulties involved in the design of semiconductor chips and has reduced the overall product development time. Moreover, continuous growth in the semiconductor industry has triggered the demand for CAD. The growth of set-top boxes due to a rise in direct-to-home (DTH) services in rural parts of countries such as India and Brazil has also led to an increased demand for CAD. CAD is increasingly used in R&D as well as manufacturing leading to an upsurge in the demand for the software from both R&D-intensive countries and manufacturing-intensive countries.
Some of the other prominent vendors identified in this report are 3D Systems, solidThinking, Altium, Autodesk, Cadonix, FreeCAD, Suzhou Gstarsoft, IronCAD, KiCad, Kubotek, Vectorworks, PTC, Zuken, and ZWSOFT.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global CAD Market in Electrical and Electronics Industry 2016-2020‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- 3D CAD Market in Eastern Europe 2017-2021
- Global CAD Market in Aerospace and Defense Industry 2016-2020
- Global CAD Market in Industrial Machinery Industry 2016-2020
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