As indicated by Acumen Research and Consulting, the global 3D CAD Software market size is evaluated to reach around US$ 14.5 billion with a CAGR over 5.9 % over the estimate time frame. The introduction of 3D CAD software revolutionized the design of end-use industries. CAD has been highly adoptive in several branches such as healthcare, construction, manufacture and automobile because of improved and constantly changing environments. The software allows end users to produce three-dimensional models to represent the entire product's individual part or system. It also helps to avoid the risk of producing defective parts, making the production process cheaper. Industries move from CAD to CAD 3D as software simplifies the complex structure of design by offering choices between pre-defined and custom designs. In addition, the growing transition from locally to cloud, together with changes in consumer preferences and needs, is ready to benefit the market.
The on-premise segment held the largest market size in 2018
In 2018, the segment on site held the largest size on the market. On-site software can be installed directly on your computer or server to keep the design data of your system. End users working in highly-regulated industries like healthcare tend to opt for this type of software. The demand for cloud-based 3D-CAD packages is on the rise, despite high implementation of on-site solutions. During the forecast period, the cloud segment shall have the highest CAGR. The coming years are estimated that cloud-based software is more proficient than on-site for companies as former software reduces system maintenance and maintenance costs. But increasing safety concerns with cloud - based software will challenge the deployment of software.
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In 2018, the 3D CAD software market dominated the manufacturing sector and account for a mere one fourth of total income. In order to help manufacturers to create prototype and simulate the motion of pieces in production process, the development of 4-, 5-and C-axis machines is planned to encourage three-dimensional CAD software in the manufacturing sector. It also enables them to obtain a enlarged model version by getting a 3D view of the product.
The car industry has a significant share as the industry relies heavily on model prototypes. An increasing need for product design to be escalated for new product development leads to more cloud-based 3D CAD packages being adopted. The prototypes that have been developed through this kind of software help to enhance the quality of the actual production schedule.
3D CAD software has played an important role in transforming the building sector by making it possible for users to achieve optimize productivity, improved design quality, improve architectural design presentation. The software allows users to create an in-depth dimension of all aspects of architecture by offering a realistic representación of the product. This has encouraged architects and construction companies to adopt the software. In addition, 3D modelling is prepared to play a key role in the design of contours in real time with a growing focus on smart housing and sustainable living.
North America to Dominate the Overall Market during the Forecast Period
In 2018, North America led the world by contributing more than a third of its total income. The demand for CAD software is about to increase in the next few years as construction industry grows continuously. The US government's initiatives to implement digitalization solutions will likely stimulate the growth of the country's manufacturing sector and encourage the adoption of 3D CAD software.
The 3D CAD Software market is consolidated with limited number of manufacturers. The leading companies operating on the market include Dassault Systemes, Siemens PLM Software Inc., Autodesk Inc., PTC Inc. and Oracle Corporation. These companies are shown to adopt inorganical strategy of growth for increasing competition such as acquisitions, mergers and partnerships. PTC Inc. acquired Frustum Inc. recently in November 2018.
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