London, 23 June 2015: Technavio, the independent tech-focused global research firm, has published a report on the CAD market in India 2015-2019, which is expected to grow at a CAGR of 9.2% during 2014-2019.
CAD solution providers are increasingly focusing on tier II and tier III cities of India. Places, such as Surat, Vadodara, Ahmedabad, Jamshedpur, Nagpur, and Pune, are experiencing high growth in the manufacturing sector, which is increasingly employing CAD solutions for product designing. Large international CAD solution providers are forging partnerships with the Indian companies to sell their products, and boost their revenue and market presence.
“The availability of 3D CAD software and infrastructure-as-a-service on the cloud allows end-users to reduce their upfront implementation costs and total cost of ownership, thus increasing the popularity and adoption of these solutions,” says Faisal Ghaus, Vice President of Technavio.
“Several 3D-based CAD solutions are now available on cloud. Apart from ease of access, flexibility, and security, cloud computing also provides vast space for data storage. Companies prefer cloud-based CAD software, as it is cost-effective.”
Key Market Drivers
- Increased Establishment of R&D Facilities
- Focus of CAD Solution Providers on Tier II and Tier III Cities
- Accurate Designing and Reduction of Errors
Key Market Trends
- Rise in Partnerships among Vendors
- Emergence of Indian CAD providers
- Increased Adoption of Cloud-based CAD solutions
Key Market Vendors
- Autodesk Inc.
- Dassault Systèmes SA
- PTC
- Siemens PLM Software
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
