Technavio analysts forecast the global computer-aided design (CAD) market to grow at a CAGR of close to 7% during the forecast period, according to their latest report.
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Technavio has published a new report on the global CAD market from 2017-2021. (Graphic: Business Wire)
The research study covers the present scenario and growth prospects of the global CAD market for 2017-2021. Market estimates come from the sale of CAD software licenses, services, maintenance, and revenue earned by software providers, service providers, and value-added resellers.
The global CAD market has witnessed the emergence of many new and innovative software. The development of new ideas and the launch of new products has encouraged companies to introduce changes such as the inclusion of new model templates, improved documentation, and enhanced support for mobile devices.
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Technavio ICT analysts highlight the following three factors that are contributing to the growth of the global CAD market:
High adoption of cloud-based CAD in APAC
The availability of cloud-based services has increased in APAC. Industries are focused on reducing PLM adoption costs, which gives rise to the popularity of cloud-based PLM software. Various PLM service providers are implementing the technology on the cloud. Wipro is providing cloud-based PLM services for the Siemens PLM Software, Teamcenter. Its cloud-based PLM services help electronics and semiconductor manufacturing companies deploy Teamcenter on the cloud. This deployment through infrastructure as a service (IaaS) helps end-users reduce upfront costs and total cost of ownership (TCO).
The benefits of adopting cloud solutions are listed below:
- Implementation of cloud solutions requires minimal investment.
- Data is easily accessible from any location.
- Cloud solutions are reliable and can be used for data backup in case of loss of data from the company’s storage devices. They act as a disaster recovery service for SMEs.
Critical role of CAD in packaging machineries
Packaging machinery involves the packaging of products before their dispatch for storage and distribution networks. Packaging is a critical stage of marketing due to its strong impact on the purchase decisions of customers. Packaging machinery is used for labeling, coding, filling, and wrapping products. A major driver in the global packaging machinery market is the increase in the demand for smart packaging. This is mainly witnessed in the food industry, where hygiene is crucial. The growing concerns over wastage of food mainly drive the demand for smart packaging.
Ishmeet Kaur, a lead product lifecycle management research analyst at Technavio, says, “Food packaging has evolved significantly over the last few years. The method allows for preserving food for longer periods by using barrier layers and germicidal films. These factors have increased the consumption of packaged foods and the subsequent demand for packaging machinery.”
Rising demand for CAD from semiconductor industry
The semiconductor industry is one of the major contributors to the overall revenue of the CAD market. The progressive reductions in the size of semiconductors and the increased scale of integration have compelled semiconductor manufacturing companies to use CAD. The software helps curtail the complexities involved in the design of semiconductor chips.
“The semiconductor industry is highly dominated by the US, Japanese, and South Korean companies. A notable incident in this industry was the fall of Japanese dominance and the rise of South Korea. This was due to the increase in R&D activities in the semiconductor industry by companies such as Samsung and Intel,” adds Ishmeet.
Top vendors:
- Autodesk
- Dassault Systèmes
- PTC
- Siemens PLM Software
Browse Related Reports:
- Global Computer-Aided Design Market in Electrical and Electronics Industry 2016-2020
- Global Mechanical Computer-Aided Design Market 2016-2020
- Global Computer-Aided Engineering Market for Value-Added Resellers 2016-2020
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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