Most CAD modeling platforms available today include sheet metal design features that are easy to use while developing a 3D model. It is also possible to convert solid models to sheet metal components and later develop flat patterns out of it. Even engineers, fabricators and manufacturer can be more productive only when they have the right type of 3D CAD modeling software tools.
Global Computer-Aided Design (CAD) Market Research Report: By Technology (3D and 2D), by Component (Solution, Services [Installation, Training and Implementation, System Integration and other Support Services]), By Deployment Mode (Cloud, On-Premise), Application (Surface Modelling, 3D printing, Reverse Engineering, Part Assembly), Industry (Automotive, Electrical and Electronics, Civil and Construction, Energy and Materials, Industrial Equipment and Media and Entertainment) and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America) - Forecast till 2027Market HighlightsAccording to MRFR analysis, the Computer –Aided Design market was valued USD 7.47 Billion in 2020 and is expected to reach USD 14.18 Billion by 2027, at a CAGR of 10.0 % during 2019–2025.
Factors driving the growth of the market include rising government initiatives to develop smart cities that allows real-estate sector to build smart space buildings and infrastructure, rise in adoption of cloud-based 3D CAD software, 3D modeling in public infrastructure that includes energy and utilities and construction, and adoption of 3D printing in manufacturing sectors.
Additionally, the integration of 3D CAD tools with virtual reality is expected to be one of the new revenue pockets for the CAD market during the forecast period.On the other hand, the adoption of building information modeling (BIM) solutions and cloud-based CAD solutions may eventually lead to data breaches; these are likely to hinder the growth of the CAD market during the forecast period.Segmental AnalysisThe global CAD market has been segmented based on technology, component, deployment mode, application, industry, and region.Based on technology, the CAD market is bifurcated into 3D technology and 2D technology.
However, the 2D technology is expected to register sluggish growth during the forecast period.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/8531By component, the global CAD market has been bifurcated into solutions and services.
The cloud segment is presumed to be the higher growth rate in the market owing to the availability of seamless cloud-based solutions that can be easily integrated with various applications such as surface modeling and 3D printing segments.
However, the on-premise segment is being still preferred over the cloud solution owing to security concerns.Based on application, the market has been segmented into surface modeling, 3D printing, reverse engineering, part assembly, and others.
Industry Insights In the uncertain time of COVID-19, Market Research Future has come with the latest study on the global Computer-Aided Design (CAD) Market 2020.
The survey enclosed the impact of COVID-19 on the economy.
On this, MRFR reveals the global market earlier achieved a valuation of USD 7.47 Billion in 2020 and would scale up to USD 14.18 Billion by 2027.
The evaluation of the escalation would take place during the years (2020 to 2027)—the forecasted period.
Top Impacting FactorsThe acceptance of CAD design platform in assorted manufacturing industries and disciplines to generate models and drawings is the foremost driver for the development of the global CAD market.
The CAD-based designs are used throughout the life cycle of a product and at different stages such as concept verification, design verification, and failure verification.
