3D CAD Software Market To Be The Future of Design and Engineering, says Market.us

Market growth is anticipated to be spurred on by the rising use of computer-aided designing in the automotive industry and manufacturers’ increased focus on additive manufacturing.

According to Market.us, “The 3D CAD Software Market is projected to reach a valuation of USD 5.20 Billion by 2032 at a CAGR of 7.9%, from USD 2.43 Billion in 2021.” 

Asia Pacific is expected to experience the fastest compound annual growth rate between 2022 and 2032 due to expansion in AEC and manufacturing businesses throughout the region. 

Furthermore, rapid expansion in engineering, design and development will likely spur on the adoption of modeling and designing tools during this timeframe. Middle East and Africa also experience significant expansion during this period due to an uptick in 3D CAD software usage among oil & gas sectors, advanced graphic movies, and other fields. These factors combined will fuel regional market expansion during this period.

Anurag Sharma, a senior research analyst at Market.us, said, “The market is being propelled forward by the establishment of a cloud-based platform for 3D CAD software.”

3D CAD software technology will be utilized extensively in the packaging sector for various tasks such as designing, wrapping, boxing, and bottling consumer products. This demand for complex prototyping and digitalization in automotive, aerospace, and defense sectors, along with precise designing and digitization are expected to propel market growth. 

Outsourcing services for 3D CAD are often employed in engineering to aid with core product design and production. Furthermore, customers are increasingly opting for customized solutions when shopping for 3D CAD software solutions.

The market’s leading players offer personalized and tailored solutions to customers in order to increase customer loyalty. Autodesk Inc./Dassault Systemes, SolidWorks Corporation, PTC, and others have included customization features in their product offerings. 3D CAD software continues to be in high demand due to advances in 3D printing technology which enables developers to develop 3-dimensional models using computer-aided design techniques. 3D printing technology is seeing a surge of funding as it allows the manufacture of various items made from various materials.

3D printing technology has become an increasingly popular tool for major corporations to offer customers innovative solutions and stay ahead of their rivals. Autodesk Inc. included Netfabb’s 3-D printing program into Fusion 360 in January 2021, making it their first 3D CAD/CAM/CAE/PCB tool of its kind. This enables users to develop products faster using cutting-edge technology while speeding up product creation and design significantly.

Virtual Reality (VR), another useful technology for 3DCAD, gives users the opportunity to visualize how their designs function in real life. VR creates a virtual replica of the model so users can identify defects more easily. 

The technology has helped reduce costs and improved accuracy – something expected by many industrial companies, particularly those in the aerospace or automotive sectors. Large companies often invest heavily in R&D to expand product offerings and reduce market competition.

Market growth has been hindered however by the lockdowns implemented by several governments from 2020-2021 to reduce COVID-19’s spread.

In 2020, the On-Premise segment saw a whopping 82% share of the revenue. This can be attributed to its superior data security measures. On-premise software users find it convenient to deploy their solution on-premise as all information, including design data, can be retained locally on their system. 

Typically, on-premise solutions are employed by end-users within highly regulated fields like healthcare or government organizations. On-premise solutions facilitate innovation faster, collaboration occurs more easily, significant information is reused, and quality assurance increases due to version control initiatives – leading to rapid adoption across industries.

Cloud computing is expected to experience the fastest growth rate of 11.0% between 2021-2028 due to its numerous benefits, such as better collaboration, sharing designs with stakeholders, minimal or no installation process and an integrated data management platform. 

Cloud-based CAD software has also become more popular within companies due to the outbreak of coronavirus; this software gives employees remote access and allows them to edit technical drawings.

 3D CAD Software Market Key Players include:

• Autodesk, Inc.
• Bentley Systems, Inc.
• Hexagon AB
• Oracle
• PTC
• Siemens
• Dassault Systèmes SolidWorks Corp.