Computer Aided Design (CAD) Software Market Report 2024 - CAD Software Market Share And Trends

"The Business Research Company recently released a comprehensive report on the Global Computer Aided Design (CAD) Software Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The computer aided design (CAD) software market size has grown strongly in recent years. It will grow from $17.82 billion in 2023 to $19.04 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to digital transformation, emergence of standards, and integration with manufacturing processes, increased adoption of 3d printing and demand for simulation and analysis.

The computer aided design (CAD) software market size is expected to see strong growth in the next few years. It will grow to $25.20 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to expansion of design capabilities, parametric and computational design, adoption of industry 4.0 technologies, rise of generative design and growing demand for cloud-based cad solutions. Major trends in the forecast period include AI-driven design automation, and blockchain-based design data management, emphasis on sustainability and eco-friendly design, shift towards subscription-based and SaaS models and enhanced collaboration and communication tools.

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Market Drivers and Trends:
The rising integration of cloud-based solutions is expected to propel the growth of the computer-aided design (CAD) software market going forward. Cloud-based solutions refer to software or services hosted, maintained, and delivered over the internet from remote servers rather than being installed and run on local computers or servers. These cloud-based solutions arise because of their scalability and flexibility, cost-effectiveness, remote access and collaboration, improved business continuity, and disaster recovery. Computer-aided design (CAD) software is increasingly being integrated into cloud-based solutions to leverage the benefits of cloud computing technology, including improved accessibility, scalability, collaboration, data management, and visualization capabilities, enabling organizations and design teams to optimize the design workflows and achieve greater efficiency, productivity, and innovation. For instance, in December 2023, according to the European Union, a Netherlands-based international organization, the percentage of European Union businesses that bought cloud computing services increased by 4.2 percentage points in 2023 compared to 2021. Therefore, the rising integration of cloud-based solutions is driving the growth of the computer-aided design (CAD) software systems market.

Major companies operating in computer-aided design (CAD) software focus on technological advancements, such as RealGUIDE, to enhance their offerings and provide innovative solutions to users. RealGUIDE is a cloud-based software suite that enables implant planning, design, surgical guide design, and other programs in the field of digital dentistry. For instance, in February 2023, ZimVie, a US-based life sciences company, announced the launch of the RealGUIDE CAD and full-suite software modules for its digital dentistry platform. This is designed for advanced vital design and manufacturing, enabling detailed and sophisticated implant and tooth restoration. Additionally, users can access a new seamless user interface with intuitive icons and wizards, allowing them to start with a generic restoration and specify further details during design. This is the only solution involving the full digital dentistry team through cloud and mobile technology, providing immediate loading management from creating the digital wax-up to the definitive prosthesis.

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Major Key Players of the Market:
Dassault Systèmes SE, Trimble Inc., Siemens Digital Industries Software, Cadence Design Systems Inc., Analysis System Inc, Parametric Technology Corporation, Bentley Systems Inc, Autodesk Inc, Altair Engineering Inc, Graitec Inc, Bricsys, ZWCAD Software Co. Ltd., Vectorworks Inc., EPLAN Software & Service LLC, CadMakers Inc., Robert McNeel & Associates Inc, DataCAD LLC, Graebert GmbH, Open Design Alliance, Hexagon AB, IMSI Design, VariCAD, FreeCAD, nanoCAD, Kubotek3D, IronCAD

Computer Aided Design (CAD) Software Market 2024 Key Insights:
• The computer aided design (CAD) software market size is expected to see strong growth in the next few years. It will grow to $25.20 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.
• Rising Integration Of Cloud-Based Solutions Driving Growth In CAD Software Market
• ZimVie Introduces RealGUIDE CAD Software Suite For Digital Dentistry
• North America was the largest region in the computer aided design (CAD) software market in 2023

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This release was published on openPR.