Computer-aided design (CAD) software has emerged as a breakthrough in the designing world over the last few decades. CAD software increases productivity by improving quality of design, communication through documentation, and creation of database for manufacturing. After the development of CAD in the 1950s, the first CAD system was mainly used as an alternative to drawing tools. The design engineers worked with 2D CAD for technical drawings using 2D wireframe primitives such as line, arc, and B spline among others. With the advancement in technology, 3D wireframes were introduced in the 1960s, which helped in the launch of Syntha Vision by MAGI, the first commercially available solid modeller program.
Presently, CAD is widely used for a plethora of applications such as computer animation and special effects in movies, advertising, and other applications where the graphic design itself is the finished product. The CAD systems are acclaimed and accepted worldwide by various end-use industries such as automotive, aerospace, industrial machinery, civil and construction, electrical & electronics, pharmaceutical and healthcare, consumer goods, and others, owing to its unique qualities which assist in the process of product development.
The global CAD market is estimated to reach a mark of $11.21 billion by 2023. In terms of value, the market is estimated to witness a healthy growth at a CAGR of 7% between 2017 and 2023. CAD exhibits superior properties 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. These properties have helped in a wider acceptance of the software all over the globe. Replacement of manual drafts by CAD drafts in end-use industries, cloud synchronization, inspection agencies, and government initiatives in product development process are helping in the growth of the CAD market.
The high cost involved in the implementation of CAD software, which requires perpetual licensing, may hamper the growth of the market, along with the threat of piracy. However, there has been an increase in the investment for research and development from end-use industries, keeping in mind the growing demand from emerging economies such as Brazil, India and China. These factors, along with development of haptic tools, are anticipated to create a pool of opportunities in the global CAD market.
In 2016, 3D design based CAD dominated the global CAD market, accounting for 70% of the total share. 3D based design cycles are shorter and rationalised which offers faster product design deliverables. With the advancement in graphic displays of computers and increasing processing power, 3D CAD has moved way ahead of 2D CAD software. Among operating systems, Windows dominated the global market as it supports all of the products in the CAD market. CATIA is one of the leading products in the global CAD market, because it facilitates the whole process of product development within a single integrated platform, from designing to engineering and from styling to systems modelling. Major automotive players such as BMW, Porsche, McLaren Automotive, Chrysler, etc. have incorporated CATIA for the designing and development of the products.
BIS Research has conducted an extensive market research on ‘Global Computer-Aided Design (CAD) Market- Analysis and Forecast (2017-2023)’. The market intelligence report aims to provide an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which includes drivers, restraints and opportunities prevailing in the industry.
For further queries, please write to us at [email protected] or call us at: +1 650 228 0182.