Global CAD Software Market Sales, Market Overview, Analysis Research Report 2023

Market Overview:

The CAD Software Market was estimated at USD 10.74 Billion in 2021 and is projected to reach USD 17.47 Billion by 2028, growing at a CAGR of 7.2 %.

CAD (Computer-Aided Design) refers to the use of computer-based software to aid various design processes. CAD software is used to create two-dimensional (2-D) drawings or three-dimensional (3-D) models by different types of engineers and designers. CAD helps the user in optimizing and streamlining the design workflow. This kind of software increases the productivity of the designer by improving the quality and level of detail in the design, improving documentation communications, and often by contributing toward a manufacturing design database. CAD software even provides electronic files which can be further used accordingly for manufacturing processes.

The use of CAD tools has significantly revolutionized the designing process in the manufacturing and industrial sector when compared to traditional technical sketching and manual drafting, the use of CAD software has significant benefits for engineers and designers. Also, by making designs simple to share, review, simulate, and edit using 3D CAD these software tools are helping various businesses in developing unique items to market.

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Market Dynamics:

Driver:

The wide range of tools and functions available in CAD software along with the rising adoption and application of such software across various popular application areas including automotive, healthcare & pharmaceuticals, building and construction, and electronics, amongst others is driving the growth of the market for CAD software by elevating its demand globally. The usage of CAD software offers many benefits both economical and functional for manufacturing needs.

Opportunities:

Rapidly evolving CAD technologies with continuous improvements to target and adapt to new users and new applications are estimated to boost the growth of the overall CAD Software Market in the upcoming period. Automation and Artificial Intelligence with Cloud-Based features in 3D CAD software are helping in meeting the needs of several industries. Furthermore, the growing application of CAD in the medical sector is also boosting the growth of the market.

Key Chapter Will Be Provided In The Report

•Patent Analysis
•Regulatory Framework
•Technology Roadmap
•BCG Matrix
•Heat Map Analysis
•Price Trend Analysis
•Investment Analysis
•Company Profiling and Competitive Positioning
•Industry Value Chain Analysis
•Market Dynamics and Factors
•Porter's Five Forces Analysis
•Pestle Analysis
•SWOT Analysis

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Segmentation Analysis of the CAD Software Market

By Type, the 3D Segment dominates the CAD Software Market. It is feasible to create mechanical models that are intricate and precise when 3D modeling and CAD are combined. Software for 3-D animation has become crucial in engineering design, especially in the discipline of mechanical engineering. Over 700,000 common templates for mechanical components are available in the 3D CAD program, which is rich in a variety of libraries. This capability allows designers and modelers to choose designs in a useful way based on the requirements of the modeling job. By doing this, the design correctness is guaranteed and time is saved.

By Deployment, On Premises dominates the deployment segment in CAD Software Market. This can be ascribed to the technology's high level of information or data security. Deploying the on-premise solution is easy for software users since all information and design data can be simply kept on their systems. End-users primarily employ on-premise solutions in industries with strict regulations, such as the medical, healthcare, and government sectors.

By Application, the Manufacturing segment dominates the CAD Software Market. This can be ascribed to the industrial industry's significant usage of 3D CAD software for prototype creation. Original Equipment Manufacturers (OEMs) can replicate the movement of parts during production thanks to this software, which is what is causing the market to develop. The development of CAD-CAM technology took many individuals decades of work in the name of industrial automation. It is the goal of those who are using technology to create the future and increase output, including innovators, inventors, mathematicians, and machinists.

By Type

•2D
•3D
•Other

By Application

•Cloud
•On-Premises

By End Users

•Aerospace & Defense
•Arts
•Automotive
•Healthcare
•Manufacturing
•Media & Entertainment

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Regional Analysis for the CAD Software Market
North America is likely to dominate the CAD Software market. This may be ascribed to the assistance provided by the American government for the adoption of digitization tools that will accelerate the growth of the region's industrial sector and so promote the use of 3D CAD software tools. The market is growing as a result of the presence of major companies in the area, including Autodesk Inc., PTC, Dassault Systèmes, and Dassault Systèmes SolidWorks Corp. This is partly because the aerospace and defense industries in the region employ CAD software extensively for product development, which makes the process of visualizing, creating, and perfecting aircraft designs much simpler. Additionally, many of the biggest CAD technology businesses in the world have facilities in North America. A good example is Dassault Systèmes SE, which has 188 locations worldwide, with around 25% of those in North America. Therefore, North America is likely to dominate the CAD Software Market during the forecasted period.

By Region

•North America (U.S., Canada, Mexico)
•Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
•Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
•Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
•South America (Brazil, Argentina, Rest of SA)

Key Industry Developments In The CAD Software Market

April 2021, Electronic Design Automation (EDA) software pioneer CAD Design Software (CDS) has released Electronics Packaging Designer (EPD) suites ACAM and BWX, two independent conversion products, and a new version 8.3, all of which are driven by AutoCAD 2019 OEM for Windows.
November 2020, the world's fastest 3D CAD engine is now available in iCAD SX V8L1, the newest edition of the 3D CAD software for machinery design from Fujitsu Manufacturing Industry Solution COLMINA Design & Manufacturing Support.

Players Covered in CAD Software Market are:

•Autodesk
•TurboCAD
•SketchUp
•CADopia
•Prosoft
•FormZ
•SolidWorks
•SkyCiv
•SmartDraw
•Bentley Systems
•Corel
•Dassault Systemes SE
•Hexagon AB
•RubySketch
•ANSYS

The report provides insights on the following pointers:

1.Market Penetration: Offers comprehensive information on the market offered by the key players

2. Market Analysis: Provides detailed information on lucrative growing markets and examines market penetration across mature segments.

3. Market Diversification: Details regarding new product launches, untapped geographies, recent developments, and investments are provided.

4. Competitive Landscape: Provides an in-depth analysis of the top companies' market shares, strategies, products, certification, regulatory approvals, patent landscape, and production capabilities.

5. Industry Dynamics and Factors: Offers insightful information about future technologies, R&D initiatives, and game-changing product breakthroughs.

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