According to Technavio’s recent market research report, the global CAD market is anticipated to grow at a CAGR of close to 7% during the forecast period 2017 to 2021.
This market analysis by Technavio provides a thorough study of the global CAD market in terms of revenue and evolving market trends. The report also includes a detailed breakdown and forecasts for various market sections and all geographical regions.
Technavio research analysts categorize the market based on the end-user
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The top three revenue contributing product segments are discussed below
Global CAD market in the automotive industry: The rising demand for SUVs and crossover vehicles across the globe is propelling the growth of the CAD market in the automotive industry. Leading manufacturers like Toyota, Volkswagen, GM, Ford, BMW, Hyundai, and FCA are investing in CAD software which will help them launch different products in the global market. The US is one of the major adopters of CAD solutions in the automotive industry.
“The implementation of strict safety norms in the automotive industry across the world will encourage OEMs to adopt CAD solutions to meet the safety standards. CAD helps in scaling down production costs by reducing the number of prototypes required, thus making it the most preferred solution in the industry. The boost in the sale of passengers cars will fuel the growth of the market during the forecast period,” says Ishmeet Kaur, a lead analyst at Technavio for research on product lifecycle management.
Global CAD market in aerospace and defense industry: Rising investments in the development of new defense equipment will drive the adoption of CAD solutions in the defense sector. The manufacturers in the aviation industry are using CAD software to research and develop fuel-efficient jet engines. Furthermore, the increase in passenger flights is driving the demand for fuel-efficient engines and manufacturers are developing low-cost engines with the help of CAD solution to remain competitive in the commercial aerospace industry.
Global CAD market in industrial machinery industry: The integration of manufacturing processes with IT features, such as Internet of things (IoT) and cyber-physical systems will fuel the requirement for CAD solutions in this market segment. The implementation of ‘The Industry 4.0’ standard has forced manufacturing facilities to become decentralized and seek technological advancement with the adoption of CAD software in industrial machinery. For instance, Mitsubishi Materials Corporation, recently announced that it would provide 3D CAD data on cutting tools to introduce innovations in the market.
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The top vendors operating in the global CAD market are:
- Autodesk
- Dassault Systèmes
- PTC
- Siemens PLM Software
Other prominent vendors in the market include Menhirs NV, Encore Software, Stratasys, Graebert, SolveSpace, and TurboCAD.
A comprehensive study is available in the Technavio report titled, ‘Global CAD Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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