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Global CAD Market to Grow over $11.21 Billion by 2023

IT Market Research

Presently, the CAD systems are widely accepted by the end-use industries such as automotive, aerospace, industrial machinery, civil and construction, electrical & electronics, pharmaceutical, & healthcare, consumer goods, and others as it provides unique features for the design of product development processes.

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Computer-aided design (CAD) is the use of computer programs to create, modify, analyze, or optimize an engineering two-dimensional (2D) or three-dimensional (3D) designs. CAD software is used as it provides increased productivity to the designer, improves the quality of design, improves communication through documentation, and the creation of database for manufacturing. The output provided by CAD is often in the form of electronic files for print and manufacturing processes. The software is widely used for computer animation and special effects in movies, advertising, and other applications where the graphic design itself is the finished product.

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The CAD market is estimated to reach $11.21 billion by 2023. The overall growth in CAD market is attributed to the superior properties of CAD such as increased productivity, improved product quality, faster development, better visualization of the final product, constituent parts, and sub-assemblies coupled with lower product development cost.

Below is a snapshot of the Global CAD Market:

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The CAD market is driven by a number of factors such as replacement of manual drafts by CAD drafts in end-use industries, cloud synchronization, inspection agencies, and government initiatives in product development process. However, the threat of piracy and a high cost of implementation of CAD software because of perpetual licensing are expected to hamper the growth of CAD market. Increasing R&D investment in end-use industries, growing demand from emerging economies such as China, Brazil, and India, and development of haptic tools is expected to create opportunities in the global CAD market.

BIS Research Analysis: bisresearch.com/industry-report/gl…-market-2023.html

According to the market report by BIS Research, titled ‘Global Computer-Aided Design (CAD) Market- Analysis and Forecast (2017-2023)’, the industry is estimated to grow over $11.21billion by 2023 at a CAGR of 7.00% between 2017 and 2023. The report is a compilation of various segmentations including market breakdown by CAD technology, operating system, product type, end-use applications, and different geographical regions. It also includes sections on competitive insights and market dynamics. Herein the revenue generated from CAD is tracked to calculate the market size. The report has put special emphasis on the market share and size of CATIA, SolidWorks, AutoCAD, AutoCAD LT, Autodesk Inventor, NX and Solidedge, Creo Parametric, SketchUp, Geomagic, and Others. The industry analysis has also been undertaken in order to examine the impact of various factors and understand the overall attractiveness of the industry.

Few Companies Mentioned in the Report:

• Dassault Systemes

• Autodesk Inc.

• Siemens PLM Software

• PTC Inc.

• Trimble MEP

• 3D Systems Inc.

• Kubotek USA

• Caddie Software

• Aveva Group plc.

• Hexagon AB

• Bentley Systems

• Nemetschek SE

• BobCAD CAM Inc.

• Bricsys NV 

• Robert McNeel & Associates

• TurboCAD

• IronCAD LLC.

Key Questions Answered in the Report:

• What is the global CAD market size in terms of revenue from 2016-2023?

• Which is the dominant technology and product type by revenue in the CAD market?

• What is the revenue generated by the different CAD based technologies and product types in the global CAD market?

• What is the revenue generated in the different applications of the CAD market?

• What are the different factors driving the market forward in the forecast period?

• What are the major factors challenging the growth of the global CAD market?

• What are the opportunities for the global CAD market?

• What kind of new strategies are being adopted by existing market players to make a mark in the industry?

• What is the revenue generated by the different geographic regions in the CAD market?

• Which region will lead to the global CAD market by the end of the forecast period?

• Which are the existing key market players that have made a mark in the CAD market?

Report at: bisresearch.com/requestsample?id=374&type=brochure

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