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Global CAD Market Anticipated to Reach $11.21 Billion by 2023, Reports BIS ResearchBLOOMINGTON, Minnesota, June 14, 2017 /PRNewswire/ -- According to a new market intelligence report by BIS Research, titled 'Global Computer-Aided Design (CAD) Market- Analysis and Forecast (2017-2023)', the global CAD market is expected to reach $11.21 billion by 2023, growing at a CAGR of 7.0% between 2017 and 2023. The overall growth in the CAD market is attributed to the superior assistance that CAD solution provides across various industry verticals, such as increased productivity, improved product quality, faster development, better visualization of the final product, constituent parts, and sub-assemblies coupled with lower product development cost. (Logo: http://mma.prnewswire.com/media/495163/BIS_Research_Logo.jpg ) Browse 90 market Data Tables and 138 Figures spread through 257 Pages and in-depth TOC on 'Global CAD Market' https://bisresearch.com/industry-report/global-cad-market-2023.html CAD has been around since the 1950s and it transitioned from 2D to 3D during the 1960s due to technological advancement. For instance, MAGI released Syntha Vision in 1969, the first commercially available solid modeller program, thereby, helping in the enhancement of 3D capabilities of the CAD systems. The replacement of manual drafts by CAD in the end-use industries, cloud synchronization, and inspection agencies and government initiatives in the product development process have resulted in the strong growth of the market. Many end-use industries such as automotive, aerospace, industrial machinery, civil and construction, electrical & electronics, pharmaceutical, & healthcare, consumer goods, and others, have widely adopted CAD system in their product development processes, which enables top-line growth by enhanced offerings in terms of 3D and 4D designs. End-use industries have increased their investment in research and development of the CAD system thereby driving the demand from emerging economies such as China, Brazil, and India. Additionally, development of haptic tools is expected to create a pool of opportunities in the global CAD market. BIS Research Report: According to Saloni Aggarwal, analyst at BIS Research, "3D design based CAD dominated the global CAD market with the market share of approximately 75% in 2016 and is projected to reach $8.4 billion by 2023, registering the highest CAGR of 7.36% between 2017 and 2023." This increased growth is attributed to the paradigm shift from 2D CAD to 3D CAD designs owing to its limitations regarding digital prototyping and rapid prototyping, among others. 3D-based designs offer product design deliverables as design cycles are shorter, rationalized, and modernized manufacturing processes. In terms of products, the CAD market is segmented into CATIA, SolidWorks, AutoCAD & AutoCADLT, NX & Solid Edge, Autodesk Inventor, Creo, SketchUp, Geomagic, and others. Among these, CATIA leads the global market and is estimated to reach $1,830 million by 2023, says the research. This is because CATIA facilitates the complete product development process from designing to engineering, and frm styling to systems modelling, within a single integrated platform. Furthermore, the global CAD market is segmented into five major end-use industries, viz. automotive, aerospace, industrial machinery, electrical and electronics, pharmaceutical and others, including utilities, and consumer packaged goods. The automotive industry registered the highest growth in the CAD market in 2016, accounting for approximately 30% share of the market. This market report provides a thorough analysis of the recent trends influencing the global CAD market, along with a comprehensive study of the future trends and developments. The report is a compilation of various segmentations of the market, including market breakdown by CAD technology, operating system, product type, end-use applications, and different geographical regions. It also includes a separate segment on competitive insights and market insights, wherein, the revenue generated from CAD is tracked to calculate the market size. Furthermore, this report emphasizes on the market share and size of CATIA, SolidWorks, AutoCAD, AutoCAD LT, Autodesk Inventor, NX and Solid Edge, Creo Parametric, SketchUp, Geomagic, and others. Some of the key players in the global CAD market include Dassault Systemes, Autodesk Inc., Siemens PLM Software, PTC Inc., Trimble MEP, 3D Systems Inc., Kubotek USA, Hexagon AB, Nemetschek SE, Aveva Group plc., Bentley Systems, BobCAD CAM Inc., Robert McNeel & Associates, and Advaced Computer Solutions Inc. Request for Sample Report: https://bisresearch.com/requestsample?id=374&type=download This report is a meticulous compilation of research on more than 150 players in the CAD ecosystem and draws upon insights from in-depth interviews with key opinion leaders of more than 50 leading companies, market participants, and vendors. The report also profiles around 15 companies among which are Dassault Systemes, Autodesk Inc., PTC Inc., Siemens Product Lifecycle Management Software Inc., Hexagon AB, 3D Systems Inc., and Trimble MEP. Key questions answered in the report:
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