APAC CAD Software Market to Reach $4 Billion by 2024

The Asia-Pacific CAD software market is expected to reach $4.0 billion by 2024, registering a CAGR of 9.4% during the forecast period. The market growth is primarily supported by the growing adoption of CAD software in the packaging and automotive industries owing to the increased need for precise design for product prototyping, according to P&S Intelligence.

Insights on market segments

Based on technology, the Asia-Pacific CAD software market has been categorized into 2D and 3D software. Between the two technologies, 3D software is expected to hold the majority of the market share throughout the forecast period. 3D CAD software provides better virtualization and accurate design capabilities, in addition to reducing design errors in product development activities. Although 2D CAD software is useful in determining general component and subsystem arrangement, it is inadequate to provide the exact fit, interface, and function of assembly components, which, in turn, encourages the use of 3D technology among the CAD software users in the APAC region.

Based on deployment type, the Asia-Pacific CAD software market has been classified into on-premises and cloud-based CAD software. Of the two, the on-premises category held the larger market share, accounting for 63.5%, in 2018, owing to the higher degree of customization and enhanced security features offered by on-premises CAD software. During the forecast period, however, the market is expected to witness faster growth in demand for cloud-based CAD software, on account of the growing preference of small and large manufacturing and designing firms toward cloud CAD solutions for improved scalability and data management.

Integration of artificial intelligence (AI) with CAD to offer growth opportunity to market players

Applications of AI and machine learning are growing at a tremendous rate in almost every industry. Integration of AI with CAD has started to create ripples in the designing industry already, wherein designers are utilizing generative design technology to bring automation in the process. Users can use CAD software to reverse engineer a product from its image at a considerably faster pace.

Besides, AI enables users to generate highly accurate designs with realistic view using generative design techniques, wherein the software automates the design process. The designs made are much more complex than traditional designs and, thus, require additive manufacturing to be built into a physical form. The generative design technology is being used by industries including automotive, aerospace, consumer goods, and industrial machinery. Thus, the integration of CAD and AI technologies is offering growth opportunities to the Asia-Pacific CAD software market players, as consumers continue to focus on product innovation and optimization through designing.

Shift from license-based model to subscription-based model being observed as a key market trend

The key trend observed in the Asia-Pacific CAD software market is the growing end-user shift from license-based to subscription-based model. High costs are associated with the traditional CAD software licensing model, due to which small- and medium-sized enterprises (SMEs) with low IT budget often find it difficult to integrate the software in their work environment. Thus, to reduce their dependence on this model, enterprises are leveraging subscription-based CAD software. Since SMEs account for more than 90% of the total registered companies across the APAC region, a large number of market players are increasingly focusing on subscription-based CAD software model to cater to this growing customer base.

Companies such as PTC Inc. and Autodesk Inc. in the Asia-Pacific CAD software market have shifted their focus to subscription-based model to offer customers new ways of aligning the software to suit their business needs, with added benefits of low-cost trials and multiple-machine/device access. In January 2016, Autodesk Inc. ceased the sale of its CAD software under its traditional licensing model and transitioned to the subscription-based model. Thus, the increasing preference for the new model has led to the wide adoption of subscription-based CAD software among SMEs and large enterprises in recent years.

Browse report overview with 86 tables and 63 figures spread through 154 pages and detailed TOC on "Asia-Pacific (APAC) CAD Software Market Research Report: By Technology (2D Software, 3D Software), Deployment Type (Cloud, On-Premises), Model (Wireframe, Surface, Solid), Level (Beginner, Intermediate, Professional), Application (Aerospace and Defense, Arts, Manufacturing, Automotive, Healthcare, Media and Entertainment), Regional Insight (China, Japan, India, South Korea) – Industry Analysis and Forecast to 2024" at:https://www.psmarketresearch.com/market-analysis/asia-pacific-cad-software-market

Asia-Pacific CAD Software Market Competitiveness

Owing to the presence of numerous players, the Asia-Pacific CAD software market is highly competitive in nature, with companies such as Dassault Systemes, Autodesk Inc., Siemens AG, and PTC Inc. operating as key players.

Dassault Systemes accounted for the largest share in the Asia-Pacific CAD software market in 2018. The company is focusing on introducing new CAD software products and making strategic acquisitions to strengthen its position in the market. For instance, in 2018, the company acquired Trace Software’s product line of elecworks electrical and automation software, which offers schematic design, electrical control panel design, and small wiring–cabling–harnessing design capabilities.

Asia-Pacific CAD Software Market Segmentation

Market Segmentation by Technology

• 2D Software
• 3D Software

Market Segmentation by Deployment Type

• Cloud
• On-Premises

Market Segmentation by Model

• Wireframe
• Surface
• Solid

Market Segmentation by Level

• Beginner
• Intermediate
• Professional (Pro)

Market Segmentation by Application

• Aerospace and Defense
• Arts
• Manufacturing
• Automotive
• Healthcare
• Media and Entertainment
• Others (Pharmaceuticals and Chemicals)

Market Segmentation by Country

• China CAD Software Market
  • By technology
  • By deployment type
  • By model
  • By level
  • By application
• Japan CAD Software Market
  • By technology
  • By deployment type
  • By model
  • By level
  • By application
•  India CAD Software Market
  • By technology
  • By deployment type
  • By model
  • By level
  • By application
• South Korea CAD Software Market
  • By technology
  • By deployment type
  • By model
  • By level
  • By application
• Rest of APAC CAD Software Market
  • By technology
  • By deployment type
  • By model
  • By level
  • By application