The growing demand for 3D CAD software from the automotive industry
LONDON, Aug. 24, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the 3D CAD software market, increasing demand from the growing automotive industry is expected to drive the 3D CAD software market. during the forecast period. CAD technology is applied in various ways during automotive engineering and design. It helps in prototyping and offers increased accuracy to reform work processes and further develop their business development item plans. In 2021, electric car sales doubled to 6.6 million from 3 million in 2020. Moreover, car manufacturing in India grew to 30.82 lakh units in 2021 from 24.33 lakh units in 2020 Hence the growing demand for 3D CAD in the automotive manufacturing industry is expected to drive the market.
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The global 3D CAD software market share is expected to grow from $9.37 billion in 2021 to $10.1 billion in 2022 at a compound annual growth rate (CAGR) of 7.8%. The growth of the global 3D CAD software market is expected to reach $13.54 billion in 2026 at 7.6% CAGR.
Rapid technological advancements are shaping the 3D CAD software market. Technological advancements in 3D CAD software refer to the ability to improve the level of work by changing the production process through the use of technology to make the production process efficient, better and faster. For example, in March 2022, Autodesk, an American multinational software company, unveiled AutoCAD 2023, which will help designers better understand, collaborate and automate various processes when creating 3D models and designs. The new software allows us to automatically import comments into drawings, reducing the risk of errors and saving time.
Major players in the 3D CAD software market are Oracle Corporation, Bricsys NV, Autodesk Inc., CAXA Technology Co. Ltd., Siemens PLM Software Inc., ZWSOFT Co. Ltd. Incorporated, Dassault Systemes, Bentley Systems Inc., Graphisoft SE, Schott Systeme GmbH, SolidWorks Corp., 3D Systems Inc., IronCAD LLC., Trimble Inc., Intergraph Corporation and Graebert GmbH.
The global 3D CAD software market is segmented by cloud, on-premise deployment prospects; by business size into small business, medium business, large business; by application in automotive, architecture, healthcare, manufacturing, construction, media and entertainment, engineering, etc.
North America was the greater region in the 3D CAD software market in 2021. Asia Pacific should be the fastest growing region in the global 3D CAD software market over the forecast period. Regions covered in the global 3D CAD Software industry analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Global 3D CAD Software Market Report 2022 – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports by The Business Research Company that provide insights into the 3D CAD Software market, analyze 3D CAD Software Market and Forecast Market Size and Growth for Overall Market, 3D CAD Software Market Segments and Geographies, 3D CAD Software Market Trends, 3D CAD Software Market Drivers 3D, 3D CAD Software Market constraints, revenue, profiles and market shares of top 3D CAD Software market competitors in 1000+ industry reports, covering over 2,500 market segments and 60 geographies .
The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 150,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provide market analysis and forecasts. The reports identify key countries and segments for opportunities and strategies based on market trends and key competitor approaches.
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