Electronic applications driving computer-aided design market growth over 2017-2021
Category: #world  By Saipriya Iyer  Date: 2017-03-17
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Electronic applications driving computer-aided design market growth over 2017-2021

Global computer-aided design market is slated to exhibit a remarkable double digit growth rate over the period of 2017-2021. Surging demand for CAD solutions across the electronics, automotive, electrical, industrial machinery, and aerospace & defense sectors and the ever-growing requirement for high tech CAD business models will be the main drivers for global computer-aided design industry in the coming years.

Key players operating in global computer-aided design market are PTC, Dassault Systems, Siemens PLM Software, and Autodesk. With an aim to lay the groundwork for future technology experts, major corporations partner with top-tier educational institutions to introduce prospective tech enthusiasts to the world of computer-aided design software and its myriad applications across various sectors. This strategy is expected to catapult global computer-aided design industry to greater heights over the next few years.

Recently, Siemens PLM Software collaborated with The American Society of Mechanical Engineers, a not-for-profit R&D and technical training association, as the chief sponsor of IAM3D (Innovative Additive Manufacturing 3D Challenge), one of ASME’s E Fest competitions. With this partnership, Siemens PLM Software plans to introduce students to high tech product development software solutions, real-world tools, and working CAD business models to strengthen the next generation of tech experts.

Prominent vendors such as Stratasys, SolveSpace, Menhirs NV, TurboCAD, Encore Software, and Graebert also operate in global computer-aided design market.

Computer-aided design is basically a software tool used to create, analyze, and optimize product design modeling. CAD technology helps consumers design product prototypes on a digital framework prior to the actual development process, to verify the accuracy, precision, and veracity of the final product. CAD solutions find a mammoth of applications across the manufacturing, animation, architectural, and industrial sectors for drafting component designs, creating digital geometric models, and rendering digitized structures, which is propelling global computer-aided design industry.

Increasing R&D investments and ever-increasing requirements by SMEs across various industries is also anticipated to be a key driver for global computer-aided design market. Furthermore, the versatility of CAD solutions and innovative technological advancements in the software will lead to their usage across new avenues such as fashion, cartography, and landscaping, which will act as another driving force for this industry.

Global computer-aided design market is projected to increase at a healthy CAGR of 10.16% over 2017-2021. This growth can be primarily credited to the high requirement for CAD software technology across various professional domains and the subsequent rise in the sale of software licenses by various corporations.

With increasing usage of CAD tools in electronics applications for the medical fraternity, global computer-aided design market in electrical and electronics industry is forecast to record steep gains over the period of 2016-2020.

A major constraint for global computer-aided design market is the availability of CAD software from open sources. Open source software legally allows developers publish and sell the software with a public license, allowing other developers to access it for free and modify it as per requirement. With no liabilities to a single distributor, inconsistency in the source code, piracy threats, and technical bugs are likely to prevail, threatening vendors who possess the authentic software license. Open source CAD software also offers certain benefits as opposed to proprietary software, which is another restraint for global computer-aided design industry.

Industry and academia collaborations ensure that the sponsoring corporations have the advantage of recruiting professionally trained engineers with real world experience, for their current and future CAD projects. This in turn, will intensify competition among industry players, fueling global computer-aided design market.



About Author

Saipriya Iyer

Email: [email protected]   

Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters, Algosonline, and myriad other platforms. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her bel...

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