Explore Top Players of 3D CAD Software Market
- by marketherald
3D CAD Software Industry Overview
The global 3D CAD software market size was valued at USD 9.46 billion in 2020 and is expected to register a compound annual growth rate (CAGR) of 6.4% from 2021 to 2028.
The growing use of computer-aided design in the automotive industry, coupled with manufacturers’ increased focus on additive manufacturing, is expected to boost the market growth. The emergence of a cloud-based platform for 3D CAD software is further driving the growth of the market. Several companies are increasingly turning to cloud-based architecture to streamline workflows and increase design flexibility. For instance, in October 2019, PTC acquired Onshape Inc., a Software as a Service (SaaS) product design platform, as an initiative in the transition to a cloud-based SaaS platform, thereby attracting new customers with the offering.
Gather more insights about the market drivers, restrains and growth of the Global 3D CAD Software Market
Furthermore, the use of 3D CAD software technology in the packaging industry for various purposes, such as designing, wrapping, boxing, and bottling consumer goods, is expected to fuel market growth. The market is also expected to be driven by the growing demand for precise designing, digitalization, and complex structure prototyping in the automotive, manufacturing, and aerospace & defense sectors. 3D CAD outsourcing services are commonly used in various functions, including engineering, to focus on designing core products and their production. Furthermore, the rising preference of end-users for customized solutions is escalating the demand for 3D CAD software solutions.
The key players in the market are offering customized and personalized solutions to their clients to attract a larger customer base. The major companies to incorporate customization features in their product offerings include Autodesk Inc., Dassault Systèmes, SolidWorks Corporation, and PTC, among others. The advances in 3D printing are driving the demand for 3D CAD software as 3D printing enables the development of a three-dimensional model using computer-aided design technology. The growing funding for 3D printing technology allows the manufacturing of a wide range of items, from a variety of materials, depending on the needs of end-users.
Major companies have started to deploy and incorporate 3D printing technology to offer an advanced solution to their clients and gain a competitive advantage. For instance, in January 2021, Autodesk Inc. integrated Netfabb’s 3D printing software into Fusion 360, the company’s first 3D CAD, CAM, CAE, and PCB tool. The incorporation enabled Netfabb users to have complete access to Fusion 360 and HSMWorks. Increased investment in state-of-the-art technologies fuels competition among players, allowing them to develop products with cutting-edge technology and enhanced capabilities, such as Augmented Reality (AR) and the Internet of Things (IoT). These advanced technologies support users in accelerating the creation and designing process by combining digital designs for physical products.
Furthermore, Virtual Reality (VR) has emerged as a useful auxiliary technology for 3D CAD as it enables users to see how their designs will work in the real world. The VR technology offers a virtual copy of the model, enabling users to detect defects in the designs with an immersive visual experience. The technology has proved beneficial by saving costs and reducing errors and is expected to benefit several industrial works, especially in the aerospace and automotive sector. Major companies are investing in the Research & Development (R&D) of the solution offerings to reduce competition from other companies and to offer technologically advanced products in the market.
However, the lockdowns imposed by several governments in 2020 and 2021 to curb the spread of the COVID-19 disease have adversely affected the market growth. Many industries, especially manufacturing, automation, and media & entertainment, had to halt their ongoing projects and in some cases, terminate their future assignments, which caused a hindrance in the market growth. Companies are seen to be formulating strategies to overcome the situation and make up for the forfeiture post the pandemic. Furthermore, the growing mergers & acquisitions of large-scale engineering companies, coupled with increasing outsourcing, have compelled small- and medium-sized businesses to invest in digital simulation tools, thus propelling the market growth.
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3D CAD Software Market Segmentation
Grand View Research has segmented the global 3D CAD software market on the basis of deployment, application, and region:
- 3D CAD Software Deployment Outlook (Revenue, USD Million, 2016 – 2028)
- 3D CAD Software Application Outlook (Revenue, USD Million, 2016 – 2028)
- Architecture, Engineering, and Construction (AEC)
- Media & Entertainment
- 3D CAD Software Regional Outlook (Revenue, USD Million, 2016- 2028)
- North America
- Asia Pacific
- Latin America
Market Share Insights
- March 2021: Autodesk, Inc. launched Autodesk Takeoff, a feature that empowers estimators to carry out 2D & 3D quantification workflow with various tools.
- May 2020: CADCAM-E.COM, Inc. launched EnSuite-Cloud, a free cloud CAD viewer offering, to enable remote working throughout the ongoing COVID-19 crisis.
Key Companies profiled:
Some prominent players in the 3D CAD Software market include
- Autodesk, Inc.
- Bentley Systems, Inc.
- Hexagon AB
- Dassault Systèmes
- SolidWorks Corp.
Order a free sample PDF of the 3D CAD Software Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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3D CAD Software Industry Overview The global 3D CAD software market size was valued at USD 9.46 billion in 2020 and is expected to register a compound annual growth rate (CAGR) of 6.4% from 2021 to 2028. The growing use of computer-aided design in the automotive industry, coupled with manufacturers’ increased focus on additive manufacturing, is…
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