Global Computer-Aided Design Market 2017-2021
CAD refers to a software tool used to achieve accuracy in designing and modeling of products and components of an organization. CAD solutions are widely adopted by industries, such as automotive, aerospace and defense, industrial machinery, electrical and electronics, and others. The solutions help end-users develop prototypes of products digitally before the production stage. They also help in the development of industry-specific products.
Technavio’s analysts forecast the global CAD market to grow at a CAGR of 10.16% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global CAD market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global CAD Market 2017-2021
Technavio recognizes the following companies as the key players in the global CAD market: Autodesk, Dassault Systèmes, PTC, and Siemens PLM Software.
Other Prominent Vendors in the market are: Menhirs NV, Encore Software, Stratasys, Graebert, SolveSpace, and TurboCAD.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is shift toward 4D CAD. End-users are gradually shifting from 3D to 4D CAD models. Globalization has intensified the competition among CAD solution vendors. The absence of product differentiation adds to the battle for maximum market share. Vendors are incorporating additional features and functionalities in their solutions to improve customer experience. CAD providers are developing 4D CAD solutions for enhanced operational performance and improved project execution strategies to improve the constructability and sequencing of construction schedules using granular level information. These kinds of solutions facilitate the effective management of resources while adhering to project schedules.”
According to the report, one driver in market is high adoption of cloud-based CAD in APAC. The availability of cloud-based services has increased in APAC. Industries are focused on reducing PLM adoption costs, which gives rise to the popularity of cloud-based PLM software. Various PLM service providers are implementing the technology on the cloud. Wipro is providing cloud-based PLM services for the Siemens PLM Software, Teamcenter. Its cloud-based PLM services help electronics and semiconductor manufacturing companies deploy Teamcenter on the cloud. This deployment through infrastructure as a service (IaaS) helps end-users reduce upfront costs and total cost of ownership (TCO).
Further, the report states that one challenge in market is need for professional training and high cost of training. CAD software solutions involve advanced features, more functionalities, and compatible features. Since these are complex solutions, proper technical training is needed for their optimal utilization in any organization. Professionals also need adequate training to implement any upgrades in the existing system. The training and product costs of these solutions are very high. This often discourages companies from investing in CAD and instead compel them to opt for counterfeit or open source CAD software with a cost advantage.
Autodesk, Dassault Systèmes, PTC, Siemens PLM Software, Menhirs NV, Encore Software, Stratasys, Graebert, SolveSpace, TurboCAD.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook