The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The global 3d cad software market size is projected to reach USD 13.04 billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 6.2% during the forecast period. Introduction of 3D CAD software has revolutionized the way end-use industries design products.
CAD has witnessed a high adoption owing to improved and continuously changing environment in various industries such as healthcare, construction, manufacturing, and automotive. The software enables end users to create three-dimensional models for representing a particular part or system of the entire product. It also helps in eliminating risk of producing faulty parts, thereby making manufacturing process more cost-effective.
Industries are transitioning from 2D CAD to 3D CAD as software simplifies complex design structure by offering choices between predefined and customized designs. Furthermore, growing transition from on premise to cloud along with changes in consumer preferences and requirements is poised to work in favor of the market.
Burgeoning trend of integrating artificial intelligence (AI) with 3D CAD software has been improving 3D modeling experience by identifying design errors. Presently, only a limited number of players are observed incorporating AI trend into their product portfolio, which has provided ample opportunities for companies to introduce AI-based solutions.
Rising preference among end users for customized solutions is also likely to escalate the growth of the market. Customized and personalized solutions have enabled key players to incorporate this feature into their product portfolio. Key players have already capitalized on designing industry-specific solutions to cater to needs of clients.
Further key findings from the report suggest:
- The cloud-based segment is expected to witness the fastest growth over the forecast period as the software provides flexibility in design and requires less infrastructure cost
- The healthcare segment is estimated to post a CAGR of over 8.0% during the forecast period. 3D CAD software has witnessed increased adoption in the healthcare sector as it helps assist doctors in attempting different methods and strategies to determine the most optimal approach for treatments
- Asia Pacific is anticipated to progress at the highest CAGR over the forecast period owing to its high demand in the construction and manufacturing sectors
- Autodesk, Inc., Dassault Systemes, PTC, Inc., and Siemens PLM Software, Inc. are some of the prominent players in the 3D CAD software market
- Companies are focusing on providing updated products that have additional capabilities of augmented reality (AR), Internet of Things (IoT), and other innovative technologies.