Published Date : Dec 13, 2016
Albany, NY, Dec 13, 2016: The report, titled “Global CAD Market in Industrial Machinery Industry 2016–2020” provides essential insights into various critical aspects of the market including its dynamics, competitive landscape, and geographical segmentation.
As per the findings of the report, the global market for CAD in industrial machinery is poised to exhibit a CAGR of more than 7% from 2016 to 2020. The increasing adoption of computer-aided design (CAD) in the packaging industry is driving the market. Since packaging has a huge impact on the consumer’s purchasing decision, it forms a crucial part of the marketing mix. In addition, the rising demand for packaged food products is leading to the increasing use of packaging machinery items, which are designed using the CAD software. Moreover, the increasing involvement of inspection agencies in product development and the growing government initiatives to promote the development of the machine tools sector are positively influencing the growth of the global market.
However, the threat of piracy associated with the use of the software is inhibiting the growth of the market. CAD is an advanced software and requires skills to operate it. Thus, the lack of workforce with adequate technical skills is hampering the growth of the market. This factor is compounded by the high cost of training. Furthermore, the availability of open-source and free CAD software is restraining the market from realizing its full potential.
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Nevertheless, the increasing emphasis on smart factories is likely to deliver a significant push to the market. This is because procedures such as conception, designing, and execution of a smart factory require the extensive use of CAD solutions. Moreover, the shifting focus towards 4-D CAD and subscription model will provide immense growth opportunities to the market.
On the basis of geography, the global market for CAD in industrial machinery is divided into the Americas, Asia Pacific, and the Europe, Middle East, and Africa. The Americas will account for lion’s share in the market throughout the forecast period. The U.S. is the major contributor to the growth of the region, since it is one of the leading producers of machine tools in the world. The increasing rate of foreign direct investments (FDIs) in countries such as Argentina, Brazil, and Chile is augmenting the growth of the region.
The presence of high competitive rivalry in the global market for CAD in industrial machinery is prompting companies to distinguish their service and product offerings through a clear and unique value proposition. The increasing trend of mergers and acquisitions is further intensifying the competition in the market. Some of the key players in the market are Siemens PLM Software, Autodesk, PTC, Dassault Systèmes, BricsCAD, RealCAD, TurboCAD, Encore, SolveSpace, and Graebert.
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