BLOOMINGTON, Minnesota, June 14, 2017 /PRNewswire/ --
According to a new market intelligence report by BIS Research, titled 'Global Computer-Aided Design (CAD) Market- Analysis and Forecast (2017-2023)', the global CAD market is expected to reach $11.21 billion by 2023, growing at a CAGR of 7.0% between 2017 and 2023. The overall growth in the CAD market is attributed to the superior assistance that CAD solution provides across various industry verticals, 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.
CAD has been around since the 1950s and it transitioned from 2D to 3D during the 1960s due to technological advancement. For instance, MAGI released Syntha Vision in 1969, the first commercially available solid modeller program, thereby, helping in the enhancement of 3D capabilities of the CAD systems. The replacement of manual drafts by CAD in the end-use industries, cloud synchronization, and inspection agencies and government initiatives in the product development process have resulted in the strong growth of the market.
Many end-use industries such as automotive, aerospace, industrial machinery, civil and construction, electrical & electronics, pharmaceutical, & healthcare, consumer goods, and others, have widely adopted CAD system in their product development processes, which enables top-line growth by enhanced offerings in terms of 3D and 4D designs. End-use industries have increased their investment in research and development of the CAD system thereby driving the demand from emerging economies such as China, Brazil, and India. Additionally, development of haptic tools is expected to create a pool of opportunities in the global CAD market.
BIS Research Report:
According to Saloni Aggarwal, analyst at BIS Research, "3D design based CAD dominated the global CAD market with the market share of approximately 75% in 2016 and is projected to reach $8.4billion by 2023, registering the highest CAGR of 7.36% between 2017 and 2023." This increased growth is attributed to the paradigm shift from 2D CAD to 3D CAD designs owing to its limitations regarding digital prototyping and rapid prototyping, among others. 3D-based designs offer product design deliverables as design cycles are shorter, rationalized, and modernized manufacturing processes.
In terms of products, the CAD market is segmented into CATIA, SolidWorks, AutoCAD & AutoCADLT, NX & Solid Edge, Autodesk Inventor, Creo, SketchUp, Geomagic, and others. Among these, CATIA leads the global market and is estimated to reach $1,830 million by 2023, says the research. This is because CATIA facilitates the complete product development process from designing to engineering, and from styling to systems modelling, within a single integrated platform. Furthermore, the global CAD market is segmented into five major end-use industries, viz. automotive, aerospace, industrial machinery, electrical and electronics, pharmaceutical and others, including utilities, and consumer packaged goods. The automotive industry registered the highest growth in the CAD market in 2016, accounting for approximately 30% share of the market.
This market report provides a thorough analysis of the recent trends influencing the global CAD market, along with a comprehensive study of the future trends and developments. The report is a compilation of various segmentations of the market, including market breakdown by CAD technology, operating system, product type, end-use applications, and different geographical regions. It also includes a separate segment on competitive insights and market insights, wherein, the revenue generated from CAD is tracked to calculate the market size. Furthermore, this report emphasizes on the market share and size of CATIA, SolidWorks, AutoCAD, AutoCAD LT, Autodesk Inventor, NX and Solid Edge, Creo Parametric, SketchUp, Geomagic, and others.
Some of the key players in the global CAD market include Dassault Systemes, Autodesk Inc., Siemens PLM Software, PTC Inc., Trimble MEP, 3D Systems Inc., Kubotek USA, Hexagon AB, Nemetschek SE, Aveva Group plc., Bentley Systems, BobCAD CAM Inc., Robert McNeel & Associates, and Advaced Computer Solutions Inc.
This report is a meticulous compilation of research on more than 150 players in the CAD ecosystem and draws upon insights from in-depth interviews with key opinion leaders of more than 50 leading companies, market participants, and vendors. The report also profiles around 15 companies among which are Dassault Systemes, Autodesk Inc., PTC Inc., Siemens Product Lifecycle Management Software Inc., Hexagon AB, 3D Systems Inc., and Trimble MEP.
Key questions answered in the report:
What is the market size in terms of revenue from 2017-2023 for the global CAD market?
What is the market size in terms of revenue for technology such as 3D and 2D based CAD designs?
What is the market size in terms of revenue for operating systems such as Windows, MAC OS X, Unix, and Linux in the global CAD market?
What is the revenue generated by the different applications in the CAD market?
What is the market size in terms of revenue for product types such as CATIA, NX and Solid Edge, SOLIDWORKS, AutoCAD & AutoCAD LT, Creo, Autodesk Inventor, SketchUp, and Geomagic?
Which product type, operating system, and technology category of the CAD will dominate the CAD market during the forecast period?
What is the market size in terms of revenue generated by different product type with respect to major geographical regions in the global CAD market?
What are the major factors which are driving the CAD market forward during the forecast period?
What are the key opportunities and factors challenging the growth of the global CAD market?
What are the new strategies adopted by the existing market players to make a mark in the industry?
Which are the existing key market players that have made a mark in the CAD market?
What is the market share of the key players in the global CAD market on the basis of revenue and installments?
The ability to consolidate a number of components into a single complex part, create complex geometry parts and minimize the wastage of materials and cost in the consumer sector has led to desktop 3D printing technology to emerge as one of the ideal solutions amongst the present day innovations. Desktop 3D printers are considered as the fastest-growing segment of 3D printing technology, because of the lower cost of 3D printers, ease of use and easy portability. Consumer/desktop 3D printing refers to the production of 3D objects with desktop 3D printers at homes/offices/schools. The global desktop 3D printer market is estimated to witness higher growth in terms of revenue as well as sales volume over the forecast period (2016-2022). The desktop 3D printer market in terms of revenue is estimated to grow at a CAGR of 26.2%, between 2016 and 2022. The main reason for this is the tremendous growth of 3D printing market in consumer sectors such as education and art, fashion and aesthetics, toys and consumer devices, household goods and healthcare among others.
The global 3D bioprinter market is estimated to witness a growth at a CAGR of 21.7% over the period 2016 to 2022. This growth in the market is accredited to increasing demand of tissues and organs for replacements for various applications like drug discovery & testing, tissue engineering, regenerative medicine and others. 3D bioprinting is a technology used for creating 3D print constructs within a confined space using various 3D bioprinting technologies. 3D bioprinting showcases a viable opportunity to generate patient-specific tissue for the development of accurate, targeted and completely personalized treatments.
About BIS Research:
BIS Research is a global market intelligence and advisory firm which focuses on those emerging trends in technology which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on various technology verticals such as 3D printing, advanced materials & chemicals, aerospace and defense, automotive, healthcare, electronics & semiconductors, robotics & UAV and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data and other important market parameters useful in the strategic decision making for the senior management.
Contact: Bhavya Banga Email: [email protected] BIS Research™ 9100 West Bloomington Freeway, Suite 159, Bloomington, MN 55431