Tuesday, September 4, 2018
Computer Aided Design (CAD) market drivers detailed in new research report
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According to a new market research report published by Credence
Research “Computer Aided
Design (CAD) Market (Technology Type – 3-D Design and 2-D
Design; Offering – Software and Services; End-use Application – Automotive,
Aerospace & Defense, Industrial Machinery, Electrical & Electronics,
Media & Entertainment, Healthcare and Construction & Architecture) –
Growth, Future Prospects and Competitive Analysis, 2018 - 2026”, the global CAD
market is set to grow with a CAGR of 6.8% throughout the forecast period to
reach US$ 14.03 Bn by 2026.
Market Insights
The
overall computer aided design (CAD) market is set to demonstrate growth of 6.8%
across the forecast period from 2018 to 2026, primarily due to rising adoption
of modern engineering design and drafting across almost all industrial
verticals. The CAD has constantly evolved since its inception at the beginning
of 1960.
Browse
the full report at https://www.credenceresearch.com/report/computer-aided-design-cad-market
Currently,
advanced 3-D CAD design enables organizations to visualize proposed product
structure in the form of 3-D models without building a physical prototype.
Similarly, CAD aids users to experience product design at each stage of its
development, thereby reducing overall production cost by significant amount.
Evolution in CAD software made it capable of producing sophisticated virtual
worlds in end-use applications such as media & entertainment and
construction sector among others.
The
overall CAD market segmented based on technology, offering and end-use
application. By technology type, market led by 3-D design accounting
close to 3/4th of the total market value. This is primarily due to constant
focus on improving productivity by augmenting the design process. North America
was the largest market for CAD in 2017. Region accounted for over 1/3rd of the
overall market value generated worldwide. Further, Asia Pacific is set to
demonstrate the highest growth throughout the forecast period, primarily due to
rapidly growing automotive, manufacturing, construction and other industries
across the region.
The
CAD market momentum further fueled by rapid penetration of commercial Computer
Numerical Control (CNC) systems across industrial machinery processes. CNC
machines used to automate numerous machining processes in industrial sector;
operating such systems from paper plans was laborious and error-prone. CAD
software enabled organizations to produce considerably easier and
mathematically defined shapes by integrating with CNC systems along with
enhanced accuracy and productivity. Considering significant benefits, major
industry players such as Ford Motor Company, Renault SA and Lockheed Martin
Corporation among others started developing in-house CAD systems from 1960s.
Mobile
access have become one of the most vital aspects that organizations and
consumers look for in almost every technology. Number of CAD developers are
currently deploying some means of accessing the designed data on mobile platforms.
Another promising trend in CAD market is cloud subscription of software.
Advancement in cloud storage driving CAD technology, enabling designers and
developers saving their designs on cloud platforms. The benefits offered by
cloud CAD software include ease of updating the software, higher mobility,
increased storage capacity and significant cost reductions. For instance,
Autodesk developed Fusion 360, in 2016, which is partially cloud based product
requiring fractional part of consumers’ systems hard drive. These user friendly
advancements in CAD software technology provided much needed impetus to the
market growth.
Browse here for full report with Toc: https://www.credenceresearch.com/report/computer-aided-design-cad-market
Also you can request us for sample in pdf with more details and
graph: https://www.credenceresearch.com/sample-request/59276
About Us
Credence
Research is a worldwide market research and counseling firm that serves driving
organizations, governments, non-legislative associations, and not-for-benefits.
We offer our customers some assistance with making enduring enhancements to
their execution and understand their most imperative objectives. Over almost a
century, we've manufactured a firm extraordinarily prepared to this task.
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