CAD Market in Mexico 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.
Technavio's analysts forecast the CAD market in Mexico to grow at a CAGR of 5.56% over the period 2014-2019.
Covered in this Report
Technavio's report, CAD Market in Mexico 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers Mexico; 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 Mexico 2015-2019
Technavio recognizes the following companies as the key players in the CAD Market in Mexico: 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: “The many product recalls in the past few years has triggered the demand for PLM and CAD software in the automotive industry. A product recall involves retrieving a defective product because of non-conformity with product standards and safety concerns. The effective use of PLM software such as CAD, cPDM, CAE, and CAM helps minimize product recalls by refining the product. This has fueled widespread popularity of CAD software in the automotive industry.”
According to the report, high demand for product customization has fueled a concomitant rise in the demand for CAD solutions across industries. Initially, companies relied on mass production, which led to cost reductions. However, the trend has changed with time, and mass customization has started gaining traction eventually. Product customization also leads to the creation of a single bill for materials that can be used once or multiple times depending on the end-user's requirements. Thus, there is a shift in the creation of bill of modules from product identity to product technicality. A customer-facing product configurator is used to generate BOM with the order itself. These details are passed through production units for manufacturing. CAD software plays a major role in determining the bill of materials at the design stage.
Further, the report states that most software solution vendors charge extra for software updates. Some vendors force end-users to purchase updates by withholding technical support for customers that do not pay for the latest version. Such issues are inhibiting market growth.
Autodesk, Dassault Systèmes, PTC, Siemens PLM Software, Aveva, Bentley System, Intergraph, IronCAD, Mentor Graphics