Computer Aided Design Software Market Biggest Innovation with Top Key Players -Autodesk, TurboCAD, SketchUp, CADopia, Progesoft, FormZ, SolidWorks, SkyCiv, SmartDraw, Bentley Systems, Corel, RubySketch, ANSYS

New Jersey, United States,- The global computer aided design market was valued at USD 9.89 billion in 2021 and is expected to grow at a CAGR of 9.12% during the forecast period. With the introduction of software packages, the efficiency of production processes and modeling has improved. It has also led to more creativity in the designs by various engineers

Some of the Major Key players profiled in the study are Autodesk, TurboCAD, SketchUp, CADopia, Progesoft, FormZ, SolidWorks, SkyCiv, SmartDraw, Bentley Systems, Corel, RubySketch, ANSYS

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Nowadays, the most common applications of computer-aided software are used in furniture making. It is reviving woodwork art, thanks to technologies such as CAD. Benefits can be garnered by thousands of online platforms that provide model inspiration and can help in building precisely the piece that prevails predominantly in imagination, thereby pushing the computer-aided design industry.

The demand for health and medical-related goods evolved during the period worldwide. While the production using classical manufacturing techniques was impacted due to the lockdowns and disturbances in the transportation segment. This generated the requirement for the geo scattered, small, and speedily manufacturing units together with a smart computer-aided design facility. The availability of 3D printing technology and open-source model made it achievable to overcome this need.

Growth Drivers
The broad range of functional properties of computer-aided software packages has generated the advancement of a number of applications that are laying the foundation for practical and commercial applicability. Presently, the prominent application areas of computer-aided software include automotive, building and construction, electronics and electrical, pharmaceuticals and healthcare, and aerospace and defense industries. The automotive industry collects a significant share where computer-aided design market software packages are used to design several automotive components and OEMs.

The escalated growth of computer-aided design software packages can be owed to the growing demand for designing software packages and broad acceptance in different end-user industries. The usage of computer-aided design market software offers a solution that is economical for manufacturing needs due to the simple use and affixed performance over manual drafting.

Insight by Technology
Based on technology, the global CAD market is segmented into 3D and 2D technology. 3D technology is anticipated to record the fastest growth in the global computer-aided design market as they perform better than 2D structures in terms of digital prototyping and rapid prototyping. Advantages of 3D technology, including better accuracy and visualization, fewer errors, increased productivity, enhanced model quality, and faster production, have been fueling its demand in different sectors and industries.

3D technology helps engineers visualize products and their pieces with better accuracy, which is one of the key influencers of segment growth in the industry. 3D technology software also allows engineers to identify model flaws faster, reducing the cost and time required to complete the project.

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Geographic Overview
North America has witnessed the largest share in the computer-aided design market and is expected to continue its dominance over the projected period. This growth can be attributed to the strong adoption of CAD software in various sectors such as architecture, engineering, construction, manufacturing, automotive, healthcare, media & entertainment.

The demand for CAD technology is increasing in these sectors because it simplifies the process of visualizing and producing product model signs. The growing initiatives by the US government for incorporating digital solutions in order to enhance the development of the manufacturing industry in the region are also supporting the expansion of the CAD market.

Asia Pacific is expected to record a steady growth in the CAD market owing to an increase in the number of AEC businesses and manufacturing firms in the region. The rising demand for CAD software in developing nations, including China, Japan, and India, is anticipated to fuel the industry growth in the region.

The increasing growth of engineering, modeling, and development fields in the region is expected to boost the growth of computer-aided software for modeling tools. Moreover, the growing costs in defense and automotive industries are likely to propel the market growth for CAD in the Asia Pacific.

Competitive Insight
Some key players in the global 3D CAD software market include Autodesk, Inc., Bentley Systems, Inc., CAD International, Dassault Systèmes, Encore Software, Graebert GmbH, Hexagon AB, Oracle, PTC, Siemens, Trimble Inc, and TurboCAD.

Recent Development
In Nov 17, 2020, Dassault Systèmes announced the launch of the general availability of 3DEXPERIENCE Release 2021x. This platform brings cloud benefits to mid-market and SOLIDWORKS customers across design and engineering, simulation, manufacturing and production, and governance. It also offers all the functionalities of the SOLIDWORKS Desktop with a connection to the platform.

Computer Aided Design Software Segmentation by Type:

2D, 3D, Other.

Computer Aided Design Software Segmentation by Application:

Education, Architecture, Art and Design, Mechanical Design, Other

What is the goal of the report?

The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes. During the forecast period, the report analyzes the growth rate, market size, and market valuation. The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets. The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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