The global Computer-Aided Design (CAD) software market is predicted to cross USD12 billion by 2023, where the 3D CAD software will witness the rapid market growth with a CAGR of approximately 7%. CAD software is primarily used in the computer systems to help in the development, analysis, and modification of any designs, particularly in the automobile, manufacturing and medical industries. AutoCAD, Tinkercad, Solidworks, FreeCAD, TurboCAD 2016 Deluxe, etc., are the most popular CAD software.
Computer-aided design is used for drawing both 2D and 3D format figures and having a wide range of applications in automobile, ship manufacturing, aerospace, industrial and architectural design, prosthetics, and so on. It is also used for producing special effects in movies, advertisings, and often known as digital content creation. In the mathematical field, CAD is used for research in computational geometry, computer graphics that includes both hardware and software, and discrete differential geometry.
Various factors are supporting the expansion of the global CAD software market such as the increasing demand for prototyping and design creation among the engineers and designers, the growing benefits of CAD software in the automotive industry, technological advancements in the manufacturing and construction industries, increasing adoption of cloud-based solutions, demand for CAD in aerospace and defence, and the uses of 3D prototyping in medical science. Additionally, the increasing investment in the research and development of innovative products in various industries will also fuel the worldwide CAD software market.
Geographically, the global CAD software market is categorised as North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa. The Asia Pacific region is predicted to register a rapid CAGR during the forecast period attributing to the benefits of CAD software in the manufacturing of advanced medical equipment and diagnostics tools in the nations like India, China and Japan. Moreover, the increasing demand for precision modelling in industrial machinery and healthcare applications will also support the market growth of this region.
The key players of the CAD software market around the world are Autodesk Inc., Bentley Systems Inc., Dassault Systemes, Trimble Inc., PTC Inc., Gstarsoft Co. Ltd., 3D Systems Corporation, Aveva Group Plc., Hexagon AB, IronCAD LLC, and Siemens AG.
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