Computer Aided Design (CAD) Software Market Scope
Computer-Aided Design (CAD) is the use of computers to aid in the creation, modification, analysis, or optimization of a design. This software is used to increase the productivity of the designer, improve the quality of design, improve communications through documentation, and create a database for manufacturing. Increasing demand for computer-aided design (CAD) software by different industries drives the market.
|Unit||Value (USD Million)|
|Key Companies Profiled||Autodesk (United States), Dassault Systèmes (France), PTC (United States), Siemens PLM Software (United States), Encore Capital Group (United States), BricsCAD (Europe), TurboCAD (United States), SolveSpace (United States) and Grabert (Germany)|
Computer Aided Design (CAD) Software is a fragmented market due to the presence of a large number of established competitors. The key players focus on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions to help them sustain themselves in the market and maintain their competitive edge.
Autodesk (United States), Dassault Systèmes (France), PTC (United States), Siemens PLM Software (United States), Encore Capital Group (United States), BricsCAD (Europe), TurboCAD (United States), SolveSpace (United States) and Grabert (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Robocut studio (Canada), Indesign, LLC (United States), Orion Design Ltd (United Kingdom), Goddard, Inc. (United States) and Intelligent IT Hub Ltd. (Unites States Arab).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Computer Aided Design (CAD) Software market by Type , by Application (Aerospace and Defence, Automotive and Transportation, Electronics and Semiconductors, Media and Telecommunication, Marine and Others) and Region with country level break-up.
On the basis of geography, the market of Computer Aided Design (CAD) Software has been segmented into . region held largest market share in the year 2022.
Market Leaders and their expansionary development strategiesIn November 2019, PTC acquired Onshape, the developer of the Onshape software as a service (SaaS) product development platform, which integrates powerful computer aided design (CAD) software with powerful data management and collaboration tools. This acquisition allows PTC to capitalize on the inevitable industry shift to SaaS.
In February 2019, Siemens PLM Software launched its Digital Transformation Platform with the introduction of the latest version of NX software, enhanced with machine learning (ML) and artificial intelligence (AI) capabilities. These new features can update the user interface so users can use the software more efficiently, increasing productivity, by Siemens.
Influencing Trend:Rising Use of Cloud Computing to Run CAD Software’s and Increasing Demand for Advanced Visualization Technology such as Augmented Reality and Virtual Reality
Market Growth Drivers:High Demand for Easy-to-Use and Design New Products, Increasing Demand for Computer-Aided Design (CAD) Software by Different Industries and Rising Uses of 3D Printing and AI-Driven CAD Software
Challenges:Rising Concern Regarding Data Security
Restraints:High Initial Investments Configuring Computer Systems and High Licensing Fee Associated with CAD Software’s
Opportunities:Demand for Mobile CAD Application and Increasing Demand for Advanced Visualization Technology such as Augmented Reality and Virtual Reality
Key Target AudienceMarket Research Organizations, Potential Investors, Customers, End User and Others