The global computer-aided design (CAD) software market was valued at USD 9.1 billion in 2019 and is predicted to reach USD 14.2 billion by 2025, growing at a CAGR of 7.4% during the forecast period.
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Increase in demand for drawing efficiency and accuracy along with increasing penetration of 3D across various application areas are the major factors driving the growth of the global 3D CAD software market.
Based on model, the global CAD software market is categorized into solid, surface and wire-frame models. Among these, solid model contributed the largest revenue to the global CAD market.
As automakers across the globe are pinning their hopes on rising demand of advance, safe and reliable products, they are bound to introduce new variants and designs with latest designing software.
The demand for quality automotive products has increased in recent years. Users are significantly focusing on quality products over brand value. This has resulted in a major recall of products by many manufacturers in the market. With millions of connected cars expected to be on road in coming years, designers are considering advanced solutions and tools provided by CAD software to align the design and development of products with error-free manufacturing.
Geographically, North America is the largest revenue contributor in the CAD software market. The rising usage of CAD in aerospace and automotive industries for prototyping products prior to production, is fueling its demand. In both the industries, the design process contributes small fraction to the total production cost.
Key players operating in the global CAD software market include Dassault Systèmes SE, Autodesk Inc., Bentley Systems Inc., PTC Inc., Trimble Inc., Gstarsoft Co. Ltd., Hexagon AB, AVEVA Group plc., 3D Systems Corporation, CNC Software Inc., IronCAD LLC, AO Nanosoft, and SolidCAM GmbH.
Source: VynZ Research
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