Press release
Technical Illustration Software Market 2024 - Industry Size, Future Insights, Growth Drivers And Top Players
Technical Illustration Software Market
The Business Research Company offers in-depth market insights through Technical Illustration Software Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The technical illustration software market size has grown strongly in recent years. It will grow from $4.65 billion in 2023 to $4.91 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to growth in technical documentation needs, demand for visual communication in engineering, advances in computer-aided design (cad) technologies, expansion of manufacturing and aerospace industries, increased emphasis on user manuals and training materials.
The technical illustration software market size is expected to see strong growth in the next few years. It will grow to $6.51 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to adoption of 3d illustration and visualization, growth in virtual reality (vr) for technical communication, increasing demand for animated technical illustrations, expansion of technical documentation in software development. Major trends in the forecast period include cloud-based technical illustration software, collaboration features for remote work, focus on mobile-friendly illustrations, automation in technical drawing generation, integration with product lifecycle management (plm) systems.
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Market Segmentation:
The technical illustration software market covered in this report is segmented -
1) By Component: Solution, Services
2) By Technology: 2D Technology, 3D Technology
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
4) By End-User: Automotive And Machinery, Aerospace And Defense, Architecture, Engineering And Construction, High-Tech And Telecommunications, Energy, Oil And Gas, Other End-Users
Major Driver - Rising Demand For Realistic Graphics Drives Growth In The Technical Illustration Software Market
The rise in demand for games with realistic and high-quality graphics is driving the growth of the technical illustration software market. A game is a form of play that is usually undertaken for entertainment purposes and as an educational tool. The increasing demand for realistic and high-quality graphics in games has led to the adoption of technical illustration software as it develops new games with enhanced features and graphics. For example, according to a Japan-based consumer electronics company, Sony Corporation's business briefing report for 2022, retailers in the US sold 80, 000 units of PlayStation 5 (PS5) in just 82 minutes. Also, as of March 2022, Sony, a Japan-based consumer electronics company, revealed that PS5 global sales passed 19.3 million units. Therefore, the demand for games with realistic and high-quality graphics is driving the technical illustration software market growth.
Competitive Landscape:
Major companies operating in the technical illustration software market report are Adobe Systems India Private Limited, Autodesk Inc, Canvas GFX Inc., Corel Corporation, Cyient Ltd., Parametric Technology Corporation, Lattice Technology, QuadriSpace, Ignite Technologies, Dassault Systèmes, Siemens, SAP, Serif Ltd, Auto-Trol, ACD Systems International, TechSmith Corporation, SolidWorks, SmartDraw, SketchUp, Microsoft Visio, ConceptDraw DIAGRAM, Edraw Max, Lucidchart, Gliffy, Creately, Cacoo, Draw. io, Visual Paradigm, Axure RP, Balsamiq
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Top Trend - New Technical Suite To Provide Technical Graphics Professionals With Powerful Tools
Major companies operating in the technical illustration software market are developing innovative technical suite such as CorelDRAW Technical Suite 2021 to provide technical graphics professionals with powerful tools. CorelDRAW Technical Suite 2021 is a software package designed for professionals in technical design and documentation fields. For instance, in September 2021, Alludo, a Canada-based software company, launched CorelDRAW Technical Suite 2021, which is a comprehensive software collection that empowers technical illustrators to create intricate technical visuals with efficiency. It seamlessly integrates with CorelDRAW Graphics Suite 2021, offering tools for technical illustration, 3D design to illustration workflow, enhanced technical drawing tools, and the ability to create detailed spare parts pages. This suite provides professionals with advanced features for image editing, page layout, and font management, enhancing their control and efficiency in technical design and documentation projects.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Technical Illustration Software Market Characteristics
3. Technical Illustration Software Market Trends And Strategies
4. Technical Illustration Software Market - Macro Economic Scenario
5. Technical Illustration Software Market Size And Growth
…..
27. Technical Illustration Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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