The global CAD software market has witnessed moderate growth over the past few years. However, the increasing captive investment in manufacturing sector post economic slowdown is fueling the growth of the market. The operational benefits of digital workflow have extended the number of new buyers for CAD software. Moreover, the innovation in post-sale services marketing strategies, such as in house training and software education to unskilled work force in developing countries is driving the growth of the market. The translation of existing 2D CAD technology tools to advanced 3D tool is expected to be the predominant growth driver for the market in the coming years.
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In spite of the rapid development of 3D CAD software, the 2D CAD software still dominates the market. This is primarily due the requirement of large number of mechanical designers to convert 2D CAD model at the back of the design queue, in 3D model. The 3D segment is expected to witness fastest growth during the forecast period. The mechanical designers are now extensively switching their 2D based CAD design tool on three dimensional technologies (3D). The three-axis and up NC programming, mold design, rapid prototyping, and even sheet-metal manufacturing uses 3D design models to create NC toolpaths, sheetmetal flat patterns and SLA models, which facilitates suitable bend allowances in the engineering design.
The modern CAD software function in 3D design modeling is generated from standard template library (STL). The rapid expansion of cloud technology in design tool, in addition to the evaluation of mobile technology is expected to be major growth driver for the CAD software market during the forecast period. Moreover, the application of CAD software has also broadened in the recent years.
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Asia-Pacific accounted for the largest share in the global market in 2014. The market dominance of Asia-Pacific is due to the high concentration of its end user industry, such as automotive and electronics. Moreover, the increase in knowledge outsourcing services for engineering design from this region is expected to drive the growth of the market in the coming years. The European and North American CAD market is witnessing slower growth, owing to mature nature of the market. Country wise, China is expected to be the largest market of the world. Some of the other major markets include the U.S., the U.K., Germany, India, France, Canada, Brazil, Mexico, South Korea, Japan, and Russia,
The CAD software market is consolidated. The top five companies accounted for more than 50% share of the global market in 2014. The market is expected to witness further consolidation in the coming years, owing to high proprietary learning curve in 3D CAD software. Some of the competitors in the global CAD software market are Autodesk, Siemens PLM Software, Dassault Systèmes, Mentor Graphics, Robert McNeel & Associates, Oracle, and Graebert.
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