Buoyed by the rapid transformation in the software design industry and easy mobile accessibility to the software, the 3D CAD market is projected to grow at a CAGR of 4.9% during 2016-2022 to reach $7.2 billion by 2022.
Insights on market segments
Based on model type, the solid model category was the largest revenue contributor to the global 3D CAD market in 2015. Amongst the multiple application areas of the software, automotive led the market with the largest revenue share in 2015. The art category is projected to observe the fastest growth during the predicted period.
Americas lead the 3D CAD Market
The Americas held the highest 3D CAD market share, and within the region, the U.S. generated the largest revenue in 2015. Additionally, China holds the largest market in the APAC region. In Europe, Middle-East and Africa (EMEA), Germany is predicted to observe the fastest growth in the market. Furthermore, amongst all the regions, Asia-Pacific (APAC) is predicted to observe the fastest growth for 3D CAD solutions during the forecasted period.
Switch from 2D CAD to 3D CAD boosts the 3D CAD market growth
The move from 2D CAD to 3D CAD and increasing usage of 3D CAD in designing machinery packaging are the major factors driving the growth of the 3D CAD market. With the help of advanced analytical solutions, 3D CAD allows designers to perform multiple tasks, starting from simulating the flow of fluids till measuring the vibrations in the main structural components. Various industry verticals, including automotive, aerospace, defense, and industrial machinery, are increasingly using 3D CAD solutions for the digital prototyping of the products before their manufacturing.
Additionally, 3D CAD is leveraged in the automotive industry during almost the entire manufacturing process and for ensuring optimum quality and accuracy. Further, companies or product manufacturers are highly focused and investing on research and development (R&D) to bring innovative designs and less-vulnerable solutions to compete in the 3D CAD market. Such solutions enable product manufacturers to reduce their product cost, speed up product launches, and gain an understanding of the real-time performance of new product designs.
The trends observed in the 3D CAD market include a move from license-based to subscription-based models and rise in the merger & acquisition activities between CAD software providers. This is further done to improve the offerings by the providers and increase the number of users. Leading market players such as Autodesk Inc. are acquiring smaller software solutions providers to introduce with new products and services to customers across the world.
The swift growth of software-as-a-service apps has generated enormous opportunities for the growth of the 3D CAD market. There is a large demand for access to CAD data from any location on a portable device platform from multiple users, which include both large and small enterprises. In APAC, market is expected to grow due to the increasing adoption of advanced technologies through mobile platforms for complex designing and drafting applications, which can replace the traditional desktops for the purpose.
Traditional CAD software is expensive and requires a greater number of skilled resources to perform the tasks, whereas 3D CAD is a cost-effective solution, as the need for purchasing and maintaining complex systems is reduced. Further, due to high cost of on-premises CAD software cloud-based remotely accessible CAD software solution is rapidly drawing the attention of customers. The solution provides higher productivity and data backup and lowers the energy consumption, which is generating multiple opportunities for the 3D CAD market to grow.
Competitive landscape of 3D CAD market
The 3D CAD market is consolidated, with the top five players holding almost 85.0% share in 2015, when Autodesk Inc. led the market. Other major companies operating in the market include Aveva Group PLC, Bentley Systems Inc., Dassault Systèmes, Hexagon AB, and 3D Systems Inc.
Access Report Overview: https://www.psmarketresearch.com/market-analysis/3d-cad-market
The key developments in the global 3D CAD market include product launches, strategic partnerships, and mergers & acquisitions. Vendors such as Autodesk, one of the largest design software solution providers, is offering many innovative CAD software services to its users. Several companies are merging with or acquiring design software providers and continuously engaging in partnerships with software companies and institutes to offer integrated 3D CAD solutions.
GLOBAL 3D CAD MARKET SEGMENTATION