Asia-Pacific is expected to grow at a highest CAGR, owing to increased IoT penetration among the manufacturing sector and Industry 4.0; demand for advanced industry manufacturing systems; and development of new aerospace & defense projects among the developed & developing economies such as India, China and others.
According to a recent report published by Allied Market Research, titled, CAM Software Market
Increase in use of CAM software in packaging machinery, surge in industrialization, and investment in R&D activities for CAM market are anticipated to drive the growth of the global CAM software market. In addition, surge in adoption of cloud-based technologies is expected to create lucrative opportunities for the CAM market growth.
However, availability of free and open-source CAM software is anticipated to hamper the market growth during the forecast period.
Based on design type segment, the 2D segment led the CAM software market in 2017. However, the 3D segment is expected to witness the highest growth, owing to its increased need of CAM software to provide accurate and faster programming of CNC machining for more complex geometries.
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The global CAM software market was led by North America in 2017. However, Asia-Pacific is anticipated to dominate the CAM market owing to its fastest growth rate, registering a CAGR of 9.60% during the forecast period.
Key Findings of the CAM Software Market:
- The machine tool industry segment is expected to exhibit significant increase in terms of revenue during the forecast period.
- In 2017, 2D CAM software segment accounted for the highest revenue among the other modes of transportation; however, 3D CAM software is expected lead the market during the forecast period.
- Asia-Pacific is projected to exhibit substantial growth during the forecast period.
Some of the key players operating in the CAM Software market include Autodesk Inc., Mastercam, SolidCAM Ltd., EdgeCAM, ZWCAD Software Co., Ltd., GRZ Software, BobCAD-CAM, Inc., Cimatron Group, Camnetics, Inc., MecSoft Corporation, Dassault Systmes, and Siemens Product Lifecycle Management Software Inc.
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