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  • 22 May 2019 23:54

3D CAD Software Market in New Global Study

According to research study the global 3D CAD Software market size is expected to reach around US$ 14.5 billion by 2026 with noteworthy CAGR around 5.9% throughout the forecast period 2019-2026.

Increased adoption in the automotive sector of computer-based design, combined with a high focus on additive production by manufacturers, has increased the market. Different end-use industries widely choose cloud-based design, which allows them to simplify workflows and offers flexibility in design. Cloud-based products offer real-time work to teams that are spread geographtically and reduce overall spending on IT Systems. Specialists like General Motors Co. have migrated into the cloud. A high demand for accurate design, complex prototyping and digitalisation of construction is projected to drive the market in the automotive, aerospace, defense and manufacturing industries.

Many sectors, including engineering, use 3D CAD outsourcing services to concentrate on core products and their development. In addition, developments in 3D printing also fuel the demand for the 3D CAD software, as 3D printing needs the first computer-aided design technology to produce a three-dimensional model. Cross-player competition leads to increased investment that enables players to provide innovative products with technologies and additional capabilities, like IoT and Augmented Reality (AR). These innovative solutions help users to quickly develop designs by connecting digital design with physical products.

Increased funding for the development of different 3D printing technologies is facilitating the production of various products with a wide variety of materials, depending on end user requirements. In addition, VR has been developed as an adequate third-dimensional CAD support technology to allow the users to see how the designs work in the real world. A virtual copy of the model is provided by VR software which gives the user an uninterrupted experience. It also helps to detect design failures, particularly in the car and aerospace sectors, where even small mistakes can cause significant losses. In order to gain a competitive advantage on the market, players adopt both inorganic and organic growth strategies as well as developing innovative products. In October 2018, for example, Onshape partnered with Magic Leap for a 3D product design application. This new app will enable engineers to improve their product designs in real time by editing CAD models via the Magic Leap device.

Key Participants

The 3D CAD Software market is consolidated with limited number of manufacturers. The leading companies operating on the market include Dassault Systemes, Siemens PLM Software Inc., Autodesk Inc., PTC Inc. and Oracle Corporation.

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