Computer Aided Design (CAD) Market

Computer Aided Design (CAD) Market Share, Size, Trends, Industry Analysis Report, By Component (Software, Services); By Product (3D, 2D); By Deployment (On-Premise, Cloud) By Application (Aerospace & Defense Industry, Shipbuilding Industry, Automobile & Train Industry, Machine Tool Industry, Building & Construction); By Industry; By Region; Segment Forecast, 2023 2031

ICT & Media | November 2022 | Report ID: EMR001 | Pages: 185

Market Synopsis

              The global Computer Aided Design (CAD) Market is expected to reach a market size of USD 17.12 Billion in 2031 and register a CAGR of 8.4% during the forecasted period. One of the key reasons fueling the market's expansion is the rising acceptance of (CAD) across a range of application verticals. A designer may not only quickly and accurately develop a model of anything, but also fix any errors or anomalies before building an actual prototype. Using CAD software speeds up the sketching process. Moreover, CAD software makes it simple to create 3D models. In comparison to the traditional methods, this aids industries in designing and analyzing the product for a small fraction of the cost. CAD gives the product a wide range of customization options even during the design stage. All of these CAD advantages and benefits help the industry expand. Increased manufacturing process digitalization is a significant driver of market expansion. Today, CAD application like CATIA and SolidWorks are preferred by engineers and designers as a quick approach to produce original ideas.

During the covid-19 pandemic production halts & supply chain disruption led to suspension of value chain active industries like Aerospace, Manufacturing, Automation & transportation which was continued till 2020. Due to lots of uncertainty in market various industries started accepting CAD over traditional designing to reform their collapsed economies. The adoption of CAD accelerated in different verticals other than automation & defense like real estate, machinery & ship building which are driving growth prospects of the market.

When compared to using traditional methods, CAD prevents a significant amount of material from being wasted. This contributes to the overall production cost reduction and is a major element in the market's expansion. In order to grow the market, major corporations are expanding through partnerships, mergers and acquisitions, and the introduction of new products.

Report Scope:

Report Attribute/Metric

Details

  Market Size

  USD 17.2 billion

  CAGR

  8.40%

  Base Year

  2022

  Forecast Period

  2023-2031

  Historical Data

  2021

  Forecast Units

  Value (USD Billion)

  Report Coverage

  Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

  Segments Covered

  By Technology, By Application, By Industry, By Deployment Mode,

  Geographies Covered

  North America, Europe, Asia-Pacific, MEA, and Rest of the World (RoW)

  Key Vendors

  Autodesk, Inc (US), Trimble Inc (US), Dassault Systèmes (France), Bentley Systems, Incorporated (US), PTC (US), Siemens PLM Software (France), Encore Software (US), Hexagon AB (Sweden), CAD International (Australia), Graebert GmbH (Germany), Corel Corporation, (Canada), SmartDraw, LLC (US), ZWSOFT Co., Ltd (China), Gstarsoft Co., Ltd (China), and ANSYS, Inc. (US).

  Key Market Opportunities

  Rising security concerns over cloud-based CAD solution and the emergence of building information modelling (BIM) are expected to hinder the growth of the CAD market during the forecast period.

  Key Market Drivers

  Increasing adoption of 2D, 3D CAD in manufacturing sectors and the integration of virtual reality with CAD models by the construction firms are driving the CAD market during the forecast period.

 

Market Segments

Market Segments According to the component, the market is segmented into product, solution and services. The market is divided into two categories based on deployment types: on-premise and cloud. According to product type, the market is classified into 2D and 3D. By application, it is divided into aerospace & defense industry, shipbuilding industry, automobile & train industry, machine tool industry, Building and construction and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and MEA.

Over the Forecasted period, the 3D design segment combined with cloud segment is anticipated to increase at the fastest rate. The use of a CAD for designing & packaging, smart city initiatives, and automobile, among other applications, can be credited with this increase. In order to streamline workflow procedures and lower operational expenses, Manufacturing, Construction industries are concentrating on enhancing cooperation across all departments. With the use of CAD, businesses may create workflow frameworks that improve supplier and departmental collaboration as well as consumer interaction.

The market share can be attributed to the high deployment of CAD for designing and developing prototypes of aerospace engines, assembly lines, communication systems, full-scale automotive models, structuring in ship building industry, among other applications.

Competitive Analysis

            The market is expanding as a result of the industrial vertical's expansion in developing nations including the US, Canada, Japan and India. The second-largest economy in the world and a significant global hub for manufacturing, China, significantly contributes to market expansion. The expansion of construction activities globally also contributes to the market's expansion with the benefits of CAD, including its efficiency, options for generating countless inventive designs, and significant cost savings.  Large corporations heavily invest in R&D to incorporate emerging technology and develop software solutions with unique features in order to gain a competitive advantage over competitors. The recently launched point facilitates increased cooperation, delicacy, and speediness in the estimate process. Also, technology providers focus on developing solutions to cater to a specific industry vertical and incorporate advanced technologies, such as AI, ML, and IoT, to fulfil a specific industrial requirement.

 Some key players in the global CAD software market include:

  • Autodesk, Inc.
  • Bentley Systems, Inc.
  • Hexagon AB
  • Oracle
  • PTC
  • Siemens
  • Dassault Systèmes SolidWorks Corp.
  • BobCad-Cam, Inc.
  • CNC Software, Inc.
  • 3D Systems Corporation
  • Advanced Computer Solution Ltd
  • Beijing Generous Digital Technology
  • Graphisoft
  • Solidworks Corporation

Segmentation: -

By Product

  1. 2D
  2. 3D

By Component

  1. Service
  2. Solution

By Deployment

  1. On-Premise
  2. Cloud

By Application

  1. Aerospace & Defense Industry
  2. Shipbuilding Industry
  3. Automobile & Train Industry
  4. Machine Tool Industry
  5. Building & Construction

By Region

  1. North America
    1. US
    2. Canada
    3. Mexico
  2. Europe
    1. Germany
    2. UK
    3. France
    4. Italy
    5. Spain
    6. Sweden
  3. Asia Pacific
    1. India
    2. Japan
    3. China
    4. South Korea
  4. Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. Turkey
    4. Israel
    5. South Africa

 

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

 

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