- CAD Market in North America to grow at 9.99 per cent during the forecast period 2012-2016
TechNavio, an independent London-based research firm, has identified the Top 4 customer segments in the North American CAD (Computer-aided Design) Market for the 2012-2016 forecast period. Making the cut, are the following sectors:
- Automotive
- Electrical and Electronics
- Aerospace and Defense
- Industrial Machinery
The CAD market as a whole, is forecasted to grow at a CAGR of 9.99 percent between now and 2016, with the US contributing 89 percent of market revenue as of 2012. This growth is thanks to the number of applications for CAD software in all of the end-user segments listed above. For instance, the software’s increased ease of use functionality and rapid prototyping capabilities help greatly in the development of quality products in all industries, whether it be electrical and electronics or aerospace and defense.
Also, playing a big role in driving the demand for CAD software in North America, is the increased adoption of CNC (Computer Numerical Control) machines across the continent, which in turn leads to the increased adoption of CAD solutions.
TechNavio’s senior analyst and co-author of the CAD Market in North America report commented on the market’s top segments, explaining, “The CAD market in North America is dominated by the 3D Software segment, which accounts for 72.54 percent of the market share. The dominance of this segment is mainly due to the high demand among SMEs for 3D CAD software solutions for 3D applications and modeling. Moreover, this segment is the fastest growing segment in the CAD market in North America. The 2D CAD Software segment on the other hand has a very small percentage in the overall CAD market.”
CAD Market in North America by Product Segmentation 2012
Source: TechNavio Analysis
To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of drivers, challenges, and trends of this market featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in order of importance.
If you are interested in more information on this topic and our upcoming research on https://www.technavio.com/report/cad-market-north-america-2012-2016 please send an e-mail to media@TechNavio.com.
About TechNavio
TechNavio is a leading technology research and advisory company with a global coverage. We focus on emerging technology trends that can shape the market. We identify and explain these trends to our customers to help them take better decisions.
TechNavio models the trends using a mix of quantitative and qualitative tools in its proprietary research methodologies. We build forecasts across market segments and geographies based on the trends identified. These forecasts and analysis are used to help our customers identify new and existing opportunities in their markets. We also help customers assess their competitive position in a changing market scenario.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape of the CAD Market in North America. Our analysts obtain the information using a combination of the bottom-up and top-down approaches, besides using in-house market modeling tools. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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Founded in 2003, TechNavio has about 200 analysts globally. We cover more than 500 technologies across 80 countries. Our analysts are closely monitoring the market every day by talking to all the industry participants. We have proprietary databases that provide us with a complete perspective of the market. TechNavio develops over 2000 pieces of research deliverables every year.
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