3D CAD (Computer Aided Design) Software Market Size, Share & Trends Analysis Report Forecast 2024-2031.
3D CAD (Computer Aided Design) Software Market Size, Share & Trends Analysis Report Forecast 2024-2031.
Blog Article
3D CAD software market is anticipated to grow at a significant CAGR of 7.9% during the forecast period. The rising use of 3D CAD software in designing and crafting products is driving the growth of the 3D CAD Software Market. This software offers several advantages in managing complex designs including increased accuracy, automating common processes, and making quick changes to the designs. It also allows users to access libraries of routinely used items such as doors, windows, and manufacturing parts. Moreover, the growing investment in 3D CAD software and rising start-ups are further anticipated to increase the demand for 3D CAD software during the forecast period. For instance, in July 2022, Fortissimo Capital invested around $40 million in 3D modeling solutions and signed a deal to acquire control of Simplex Mapping Solutions. Through this investment, the company aims to expand Simplex's operations, increase product development, extends into new international markets, and develop additional platforms for mapping and creating 3D models. However, the high cost of the initial setup of 3D CAD software is expected to restrain the growth of the 3D CAD software market.
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Segmental Outlook
The global 3D CAD Software market is segmented based on deployment and application. Based on the deployment, the market is segmented into cloud and on-premise. Based on the application, the market is sub-segmented into manufacturing, architecture & construction, automotive, healthcare, media & entertainment, and others. Among the deployment, the cloud-based sub-segment is expected to propel the growth of the 3D CAD market across the globe, followed by the on-premises.
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Among the application, the automotive category is projected to witness dominant growth in the 3D CAD Software Market during the forecast period. The increasing use of the 3D CAD software market in designing complex products with precision and accuracy is the primary factor driving the market growth of the segment. With the aid of 3D CAD modeling, it has become possible to create 3D models from the data acquired in a cost-effective and time-saving manner. Further, the automotive industry is witnessing a transformation from gasoline-based fuel to a greener source of fuel, which has propelled the launch of new and innovative models to comply with stringent rules and regulations set by the government. All these factors combined are anticipated to drive strong demand for 3D CAD software in the automotive industry during the forecast period.
by Deployment (Cloud and On-Premise), and
by Application (Manufacturing, Architecture & Construction, Automotive, Healthcare, Media & Entertainment, and Others)
Market Players Outlook
The major companies serving the global 3D CAD Software market include Oracle Corp., PTC, Siemens Industry Software Inc, Artec Europe, S.a.r.l., Autodesk, Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in June 2022, Artec 3D, a developer, and manufacturer of professional 3D scanners and software released Artec Studio 17 (AS17), the newest iteration of its 3D scanning software. AS17 includes innovative new features and updates that provide enhanced functionality for quality inspection, reverse engineering, and full-color CGI workflows as well as improvements in speed and ease of use across the board. As per the company, the new offering was designed with the user at its core, with upgrades strongly driven by customer feedback.
The Report Covers
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global 3D cad (Computer Aided Design) software market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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