Press release
CAD Software Market to Witness Fastest Growth in Asia-Pacific during the Forecast Period
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As per the findings of the research, 3D CAD held a larger market as compared to 2D CAD technology. The demand for CAD software solutions was the highest from automotive industry and it is also expected to continue being the highest revenue contributor to the global CAD market, during the forecast period. Intermediate CAD software witnessed the highest demand as compared to other categories in 2016. However, both pro and intermediate level of CAD software is expected to grow with similar rates during the forecast period.
Geographically, EMEA has been the largest CAD software market, whereas Asia-Pacific is expected to witness the fastest growth among all regions, during the forecast period. The anticipated growth in CAD software market can be attributed to increasing digitalization, advancement in new technologies, growth in manufacturing industry, and increasing adoption of advanced rendering and simulation tools by designers in the region. Further, due to rapid technological advancements in building infrastructure, and development of precision modeling techniques in industrial machinery and healthcare applications, the region has higher propensity to adopt advanced CAD software solutions at a rapid scale.
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The key factors propelling the growth of CAD software market include surging adoption of CAD software in packaging machinery. Packaging machinery helps to complete various phases of the packaging process including filling, wrapping, strapping and labeling. With packaging machines becoming increasingly complex with higher efficiency demand, engineers and designers are adopting CAD software to face unique mechatronic engineering challenges.
The global CAD software market was consolidated in 2016, wherein the top five players accounted for around 86% of the market revenue. Autodesk, Inc. was the global market leader in 2016. The other major companies operating in this market includes Bentley Systems Inc., Dassault Systèmes, PTC, 3D Systems Inc., Aveva Group Plc, and Hexagon.
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