Increasing Demand for CAD for Manufacturing Products to Boost Growth
November 30, 2018 | Business WireEstimated reading time: 2 minutes
Technavio analysts forecast the global computer-aided design market to grow at a CAGR of close to 7% during the forecast period, according to their latest market research report.
End-users gradually shifting from 3D to 4D CAD is one of the major trends being witnessed in the global computer-aided design market 2018-2022. Globalization has intensified the competition among CAD solution vendors and the absence of product differentiation adds to the battle for maximum market share. Consequently, vendors are incorporating additional features and functionalities in their solutions to improve customer experience. CAD providers are developing 4D CAD solutions for enhanced operational performance and improved project execution strategies across industries. These solutions facilitate the effective management of resources while adhering to project schedules, which in turn contribute majorly to the growth of the global market.
Global Computer-Aided Design Market: Increasing Demand For CAD For Manufacturing Products
CAD is used for drawing, editing, and analyzing an object. CAD can simplify the designing and production process. It can extensively create detailed diagrams of the interior and exterior of the prototype in the initial designing and production stage. The 2D and 3D sketches layout conceptual designs, physical attributes, functioning, dimensions, materials to be used for the build, tolerances, and the final appearance of the planned product. CAD increases the efficiency of a designer or an engineer, and it helps them save time that can be used elsewhere. CAD is used in various industries such as electronics, manufacturing, aerospace, and automobiles to design product prototypes and their integral parts separately or the product as a whole. One of the significant drivers of the growth of the global CAD market is the increasing implementation of CAD software in the value-chain of various industries. Moreover, the end-users are increasingly using virtual platforms for optimizing the prototype design, and CAD also aids in the process of directly feeding the design to the manufacturing execution systems. All these factors are driving the growth of the global CAD market.
According to a senior analyst at Technavio for research on product lifecycle management, “Apart from increasing demand for CAD for manufacturing products, other factors such as the rising need to systematize design development process and increasing investment in intelligent processing are expected to boost the growth of the market largely during the forecast period.”
Global Computer-Aided Design Market: Segmentation Analysis
The global computer-aided design market research report provides market segmentation by end-user (automotive, manufacturing, AEC, healthcare, and others), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2017, accounting for close to 36% share, followed by the EMEA and APAC respectively. Although APAC held the smallest share of the market, it is expected to witness the maximum increase in its market share over the forecast period followed by the EMEA market.
Suggested Items
Advocacy: There’s No Time to Waste
05/21/2024 | Marcy LaRont, PCB007 MagazineIn the late 1990s, I worked for a PCB company ardently working to build manufacturing presences in Malaysia, Taiwan, and eventually China’s mainland. For some of us who had the resources, we followed our OEM customers offshore as they began demanding increasingly greater price concessions from their stateside suppliers. The government was not coming to the rescue of the PCB manufacturer, so we rode the changing economic tide as it turned unwaveringly toward globalism and cheaper labor.
Marcy’s Musings: The ‘Magic’ of Additive Processes
05/21/2024 | Marcy LaRont -- Column: Marcy's MusingsThough modern semi-additive and fully additive technologies are still emerging for PCB manufacturing, additive technology itself is not new. Many PCB fabricators find themselves at a crossroads when deciding whether to change their current processes and go additive or stay the course until something significant compels a change. But change is on the horizon, and it seems to be driven by significant technological advancements in chips and advanced packaging, offering PCB fabricators some additive manufacturing solutions to explore.
Real Time with… IPC APEX EXPO 2024: Custom PCB Solutions With Adura
05/20/2024 | Real Time with...IPC APEX EXPOColumnist Dan Beaulieu and Sumit Tomar, CEO of Adura, discuss the company's comprehensive manufacturing of custom PCBs. The company excels in thermal PCB technology for enhanced conductivity. As Sumit explains, they also plan to venture into power management, leveraging their U.S.-based manufacturing capabilities.
Zentech First to Adopt IPC Apprenticeship National Program Standards
05/20/2024 | Cory Blaylock, IPCIPC achieved a landmark in 2023 by creating an apprenticeship program approved by the U.S. Department of Labor. With such a registered framework in place, industry can work through IPC to secure local, state, and federal dollars for workforce development in a way they’ve never been able to do before. Zentech Manufacturing, headquartered in Baltimore, Maryland, with production facilities in Bloomington, Illinois, and Richardson, Texas, is the first employer partner to adopt IPC’s national program. Click here to read their story.
Danutek Celebrates 20 Anniversary
05/20/2024 | DanutekDanutek, a leading supplier of capital equipment and service support to the electronics manufacturing sector in Europe, proudly marks its 20th anniversary this year.