Industrial CAD Industry 2020

 The global 3D CAD software market size was estimated at USD 8.66 billion in 2018. It is anticipated to expand at a CAGR exceeding 6.2% from 2019 to 2025. Increased adoption of computer-aided design in the automotive sector coupled with the high focus of manufacturers on additive manufacturing has augmented the market.

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Various end-use industries are widely opting for cloud-based designing as it enables them to streamline workflows and offers flexibility in designs. Key players such as General Motors Co. have migrated towards the cloud, as cloud-based products provide real-time work to teams that are geographically distributed and lower the overall spending on IT systems. Soaring need for precise designing, complex structure prototyping, and digitalization in the automotive, aerospace & defense, and manufacturing sectors is projected to drive the market.

Numerous sectors, including engineering, are widely using 3D CAD outsourcing services with an aim to focus on core products and their development. Moreover, developments in 3D printing are also fueling the demand for 3D CAD software as 3D printing first requires a three-dimensional model to be made using computer-aided design technology. Increasing investments are leading to intense competition among players, enabling them to offer products with innovative technologies and additional capabilities such as IoT and augmented reality (AR). Such innovative solutions help users create designs faster by connecting digital design to physical products. 

Growing funding for advancements of various 3D printing technologies is facilitating the production of different products with a wide variety of materials depending on the requirements of end-users. Moreover, virtual reality (VR) has emerged as an appropriate supportive technology for third-dimensional CAD as it allows users to visualize how designs will perform in the real world. VR-based software provides a virtual copy of the model, creating an immersive experience for users. It also helps detect design defects, especially in the automotive and aerospace industries, where even minute errors can cause significant losses.