The digitalization of the manufacturing industry has helped overcome several challenges associated with manual drafting of designs. The introduction of computer-aided design (CAD) software packages has added a whole new dimension to the manufacturing and 3D printing industry. CAD is defined as a software, with the help of which engineers, architects, and designers can digitally represent the design of the product to be constructed.
The first CAD software called PRONTO was created in 1957. Followed by the introduction of an interactive graphics design and manufacturing system known as ADAM, developed in 1971. CAD programs such as CATIA, AutoCAD, and Creo were first introduced in the 1980’s. Post-1995 Dassault Systemes, a leading market player created a CAD software SOLIDWORKS which focused on 3D technology.
According to the latest market intelligence report by BIS Research titled “Global Computer-Aided Design (CAD) Market – Analysis and Forecast (2018-2028),” the computer-aided design market was valued at $7.03 billion in 2017 and is anticipated to grow at a CAGR of 6.35% during the forecast period 2018-2028, to reach $13.83 billion by 2028.
This stable growth of the market is primarily driven by the ease of use and flexibility that CAD software offers. Features of the CAD systems such as the increase in accuracy, cost-effectiveness, and reduced time have further enhanced the overall efficiency of the designing process.
Moreover, CAD software packages also enhance the productivity of the designers as they can improve the design quality by supporting them to make required changes and achieve accurate results in the designs.
The report published by BIS Research also identifies other factors leveraging the growth of the CAD market. These include the increased number of end-use industries requiring advanced designing models, incorporation of cloud synchronization, and initiatives taken by the governments in the product development process. However, challenges such as the threat of piracy and high implementation cost of CAD software, owing to perpetual licensing, are restraining the expansion of the market.
The study also highlights various segments of the CAD market, on the basis of different aspects, namely product type, application, technology type, operating system, and region. The CAD systems have been widely adopted by various end-use industries, including automotive, aerospace, civil and construction, consumer goods, industrial machinery, and electrical and electronics. Among these, the automotive industry has recorded the highest market share of 23.50% in 2017 and is projected to witness a significant growth during the forecast period, as well.
In the technology segment, 3D technology has gained major attraction and has emerged as a solution to various limitations of 2D technology. Beginning from 2D designs in the initial phase, the CAD software is now used for developing highly complex and multi-layered 3D designs.
The report on CAD market provides a holistic view of the market with a detailed analysis of the strategies and developments undertaken by key market players and their detailed company profiles. As per the findings of the research report, the continuous efforts from government and private research institutes have led to a sustained growth of the global CAD market.