CAD Market in the Automotive Industry in North America 2015-2019
CAD is an effective and efficient tool for modeling and designing products and components with ease and accuracy. These solutions enable end-users to digitally prototype their products before production. They help engineers, architects, and other design professionals draft industry-specific products to enhance the development of products. CAD solutions are widely adopted by several industries such as automotive, aerospace and defense, industrial machinery, electrical and electronics, and others. These solutions enable end-users to digitally prototype their products before production.
Technavio's analysts forecast the CAD market in the automotive Industry in North America to grow at a CAGR of 4.70% over the period 2014-2019.
Covered in this Report
Technavio's report, CAD Market in the Automotive Industry in North America 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers North America; it also covers the market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – CAD Market in the Automotive Sector in North America 2015-2019
Technavio recognizes the following companies as the key players in the CAD Market in the Automotive Sector in North America: Autodesk, Dassault Systèmes, PTC and Siemens PLM Software
Other Prominent Vendors in the market are: Aveva, Bentley System, Intergraph, IronCAD and Mentor Graphics
Commenting on the report, an analyst from Technavio’s team said: “Many vendors, especially manufacturing companies, are adopting CAD for reducing the product development time cycle. In order to compete in a highly competitive market, the companies require a shorter product development life cycle. CAD, helps to reduce the time to market by reducing the product development cycle. The increasing demand for reducing the product development cycle is one of the major drivers for the CAD market in North America.”
According to the report, the CAD market in North America is highly competitive. Vendors are trying hard to differentiate their products from their competitors. CAD tools help manufacturing companies to get unique product designs and effective analysis of several parameters. Thus the CAD tools help many vendors especially in the manufacturing and discrete industries by helping them to differentiate themselves with their competitors. For instance, quality is the major factor used for product differentiation in the automotive industry. Vendors are trying to ensure more quality and safety in the vehicles they manufacture using CAD.
Further, the report states that a steep climb in data migration costs has also emerged as a key challenge to the market.
Autodesk, Dassault Systèmes, PTC, Siemens PLM Software, Aveva, Bentley System, Intergraph, IronCAD, Mentor Graphics
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