Global Computer-Aided Design (CAD) Software Market predicted to reach USD 16.6 billion by 2027

The report “Computer-Aided Design (CAD) Software Market by Technology (2D Software, 3D Software), by Model (Solid, Surface, Wireframe), by Deployment (On-Premises, Cloud), by Level (Professional, Intermediate, Beginner), by Application (Aerospace & Defense, Automotive, Manufacturing, Healthcare, Media & Entertainment, Arts, Others) – Global Forecast to 2027″, market was valued at USD 10.8 billion in 2020 and is predicted to reach USD 16.6 billion by 2027, growing at a CAGR of 7.9% during the forecast period. The rapid development of software-as-a-service (SaaS) apps has created huge opportunities for the growth of the global CAD software market. There is huge demand for accessing CAD data on portable device platforms such as smartphones and tablets from various users, including large and small enterprises. Regions such as Asia-Pacific, 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.

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CAD market has an opportunity to build new mobile-friendly CAD software solutions to meet the users’ demand and enable them to view, edit and share their designs and drawings on the go. Autodesk’s AutoCAD 360, a free drawing and drafting app, lets its users access, edit and share their AutoCAD drawings. Apart from this, many other players, such as Bentley Systems and Dassault Systèmes, are also providing their specific apps to fulfil the users’ needs.

Based on level, the global CAD software market is categorized into three segments namely intermediate, beginner and pro. Intermediate level CAD contributed largest revenue to the global CAD software market in 2016. It enables designers to develop prototype of the product, starting from problem phase to implementation phase, with enhanced visualization and communication. Intermediate level offers scalability with low maintenance cost making it one of the necessary tools for the designers for product development.

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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. However, sometimes designing time varies and can make up to 40% of the overall project cost. In this context, CAD plays a significant role to bring down this cost to minimum, within the timeframe.

Some of the major players 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.

Tags: Computer-Aided Design Software Market Demand, Computer Aided Design Software Market, CAD Software Market