According to a new market research report “Global 3D CAD Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Model (Wire-Frame Model, Surface Model, Solid Model), by Application (Aerospace, Defense, Electrical and Electronics, Industrial Machinery, Automotive, Healthcare, Arts, and Others)” published by P&S Market Research, the global 3D CAD market is projected to reach $7,256.2 million by 2022, growing at a CAGR of 4.9% during 2016 - 2022.
Access Report Overview: https://www.psmarketresearch.com/market-analysis/3d-cad-market
The study reveals that the global 3D CAD market is likely to reach $7,256.2 million by 2022. Due to rapid transformation in design software industry and demand for easy mobile access to 3D CAD, the global 3D CAD market is gaining traction.
Insights on market segments
As per the findings of the research, solid model led the global 3D CAD market in 2015. Among various applications, automotive accounted to be the largest revenue in global 3D CAD market in 2015; however, arts is expected to witness the highest growth in demand of 3D CAD solutions during the forecast period. Among regions, 3D CAD market is expected to witness fastest growth in demand from Asia-Pacific, during the forecast period.
Americas stands as the largest 3D CAD market
Geographically, Americas has been the largest market for 3D CAD, where the U.S. has been the largest contributor to the regional market. China has been the major market in Asia-Pacific. In Europe, Middle-East and Africa (EMEA), Germany is expected to be the fastest growing regional market during the forecast period.
Shift from 2D to 3D CAD bolsters the global 3D CAD market growth
The factors driving the growth of the market include shift from 2D CAD to 3D CAD, use of 3D CAD in packaging machinery, and increasing product recalls in automotive industry. Industries, such as automotive, defense, aerospace and industrial machinery, are utilizing the advantages of 3D CAD to digitally prototype their products before production. 3D CAD enables designers with advanced analysis tools to do everything from simulating the flow of fluid to measuring vibrations in key structural components.
3D CAD plays a major role in ensuring utmost quality and precision, while helping in manufacturing each part in the automotive industry. Moreover, due to increased investment in research and development (R&D) by product manufacturers to compete in the market, 3D CAD has gained significant interest of designers to produce less vulnerable automotive products. 3D CAD software lowers product recalls, and further enables product designers with complex simulations of how new product designs will behave and function in response to the real-world forces. Further, it also speeds up the time-to-market.
Shift from license based to subscription based model, and increasing mergers & acquisitions between CAD software providers are some of the trends observed in this market. 3D CAD solution providers are continuously acquiring specific design software solution providers to enhance their offerings and increase their user base. Big players such as Autodesk, Inc. are acquiring software solution providers to leverage and combine the expertise to roll out new products and services in the market.
The global 3D CAD market is also witnessing several partnerships among the 3D CAD providers, and government and non-government organizations. Such partnerships aim to leverage the latest and advanced CAD offerings to critically design and develop various products and services for end users. This enables organizations and several institutions, such as academics, product design, construction and engineering, to serve their users with innovative and user-friendly design software.
The rapid development of software-as-a-service apps has created huge opportunities for the growth of global 3D CAD market. There exists huge demand for accessing CAD data on portable device platforms from various users, including large and small enterprises. Regions such as Asia-Pacific (APAC), with ongoing adoption of new technology through mobile platforms, are in demand for critical drawing and drafting apps capable of replacing desktops to design their products.
Further, due to high cost of CAD software, users are looking for cost reduction and remotely accessible software solutions, and therefore, are interested in adopting cloud-based CAD. Factors such as reduced capital expenditure by reducing the need for purchasing and maintaining high configurable systems, reduced cost of licensing CAD software on individual systems, higher productivity and collaboration, data backup, and lower energy usage are expected to generate ample opportunities for the global 3D CAD market to grow.
Consolidated global 3D CAD market
The research states that the global 3D CAD market is consolidated with top five players accounting for around 85% of the market in 2015. Autodesk, Inc. was the market leader in the global 3D CAD market in 2015. The other major companies operating in the global 3D CAD market include Bentley Systems Inc., Dassault Systèmes, PTC, 3D Systems Inc., Aveva Group Plc, and Hexagon.
New product launches, strategic partnerships and mergers & acquisitions have been the major recent developments in the 3D CAD market. Vendors such as Autodesk, a major design software solution provider, is dominating the global 3D CAD market by offering unmatched CAD software services to its users. The company is also aggressively engaging itself in various acquisitions of small and medium design software providers, and entering in partnerships with institutes and software companies to roll out combined 3D CAD offerings in the market.
GLOBAL 3D CAD MARKET SEGMENTATION