The global CAD market in industrial machinery industry was valued at almost $2 billion in 2015 and is expected to reach about $3 billion by 2020, says Technavio.
Technavio has announced its latest market research report on CAD market in industrial machinery during 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 industrial machinery industry during the forecast period. Some of the top vendors listed in this industry analysis include Autodesk, Dassault Systèmes, PTC, and Siemens PLM Software.
In terms of geographical analysis, the Americas will dominate in the global market, and is expected to reach revenues of around $993 million by 2020. The US, Brazil, Argentina, and Chile will emerge as the key revenue-generators.
“The adoption of digital manufacturing allows various companies to plan and execute the lifecycle of a product, digitally. This step towards digitalization has led to the revolutionization of several industries and is boosting the demand for CAD in the production processes. Smart machines are installed in various factories that perform the entire production process without any human intervention. These machines help reduce process or product wastage, downtime, defects, and delays. The extensive use of CAD solutions enables the conception, design, planning, and execution of smart factories,” says Amrita Choudhury, a lead analyst at Technavio for research on product lifecycle management.
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The 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.
Increase in government initiatives in machine tools sector
Government organizations are undertaking various initiatives to enhance the growth of the machine tool sector. The machine tools sector is one of the largest end-user segments of CAD in the industrial machinery industry. The regulatory bodies in countries like India, China, Japan, and South Korea have introduced various incentive plans and are providing benefits for the promotion of industrial development in these regions. For instance, the Government of India, launched the Indian Machine Tool Manufacturers’ Association (IMTMA) to help several various manufacturers. This association conducts training programs in Bengaluru, Pune, and Gurugram with support from many machine tool manufacturers.
Role of CAD in packaging machinery
Packaging machinery is used for various functions that include filling, labeling, coding, and wrapping products. The increasing demand for smart packaging has revolutionalized the packaging industry. The smart packaging techniques are extensively used in the food industry to reduce the loss and wastage of food while packing and during the transportation to different distribution networks and chains. For instance, Dassault Systèmes are providing CAD software called SOLIDWORKS that enables engineers to design machinery, conveying, and filling process.
Involvement of inspection agencies in product development
Stringent rules and regulations established by various governing bodies are encouraging inspection agencies to examine the entire product development and manufacturing process. Several inspection agencies are verifying the various functioning of the products and processes in a manufacturing unit. Some of these functions include turbomachinery design verification, machinery vibration problem troubleshooting, and analyzing rotatory equipment machine dynamics and machine structure and vibration. Such activities are promoting industrial machinery manufacturers to develop quality products with the adoption of CAD.
Other prominent vendors identified in this report are BricsCAD, Encore, Graebert, RealCAD, SolveSpace, and TurboCAD.
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 Industrial Machinery 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 the Apparel Industry 2016-2020
- Global CAD Market in the Automotive Industry 2016-2020
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