Better Visualization and Ease in Product Development Process Drive the Global CAD Market

08 Jun 2017
Global Computer-Aided Design (CAD) Market

The 3D based CAD design has taken the product development process to a whole new level, surpassing the 2D based CAD design, offering faster product design deliverables as design cycles are shorter and rationalized. The CAD software has been embraced globally by all the leading geographies, facilitating the manufacturing and the development processes of their parts and components, by providing a detailed diagram of the product and information regarding the product’s specifications. North America leads the global CAD market and this is the result of the significant growth of the automotive industry, involvement of inspection in product development, and growing research activities in the field of industrial machinery, pharmaceutical, and aerospace industry.

The companies in the global CAD market are continuously working on their product with the advancement in technology and are opting for various business strategies to make a mark in the market. In February 2017, Microstation software maker, Bentley Systems, formed a strategic alliance with Siemens and specifically its Siemens Energy Management Division to jointly develop solutions to accelerate digitalization of planning, design, and operations for power utilities and industrial power customers. Combining the two new platforms, Bentley’s Systems’ utility design and geographic information systems (GIS) capabilities with Siemens’ Power System Simulation (PSS) Suite, provides customers with Bentley’s expertise in 3D infrastructure asset modeling and GIS with Siemens’ knowledge and renowned experience in energy system planning and simulation.1

Another leading market player in the global CAD market, Hexagon AB, announced the completion of the previously announced acquisition of MSC Software (“MSC”), a US-based provider of computer-aided engineering (CAE) solutions, including simulation software for virtual product and manufacturing process development. The acquisition strengthens Hexagon’s aim to connect the traditionally separate stages of design and production–integrating real-world data generated on the production floor with simulation data to enable users to reveal and correct design limitations and production problems prior to manufacturing.2

The competitive landscape of the CAD market includes different strategies undertaken by the CAD software providers to gain market presence, including product launches and developments, mergers and acquisitions, agreements, joint ventures, partnerships and collaborations, and expansions. Acknowledging the dynamic nature of the CAD market, BIS Research has published a report titled, ‘Global Computer-Aided Design (CAD) Market- Analysis and Forecast (2017-2023)’, which is a meticulous compilation of the various facets of the CAD software in the market. According to the analyst at BIS Research, “The CAD market is estimated to reach $11.21 billion by 2023.The overall growth in CAD market is attributed to the superior properties of CAD 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.”

This report provides a market breakdown of the global CAD market by CAD technology, operating system, product type, end-use applications, and different geographical regions. It also includes sections on competitive insights and market dynamics, wherein the revenue generated from CAD is tracked to calculate the market size. The report puts special emphasis on the market share and size of CATIA, SolidWorks, AutoCAD, AutoCAD LT, Autodesk Inventor, NX and Solidedge, Creo Parametric, SketchUp, Geomagic, and Others.

The market report also includes company profile section, which includes highlights of significant information about the key companies involved, along with their financial summaries and key strategies & developmental activities of recent years. Some of the key players in the CAD market are Dassault Systemes, Autodesk Inc., Siemens PLM Software, PTC Inc., Trimble, MEP, 3D Systems Inc., Kubotek USA, Caddie Software,  Aveva Group plc., Hexagon AB,  Bentley Systems, Nemetschek SE,  BobCAD CAM Inc., Bricsys NV,  Robert McNeel& Associates, TurboCAD, and IronCAD LLC.

References:
1 Architosh
2 Engineering.com

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