Be it any industry, automotive, industrial manufacturing, aerospace, or construction, designing, analyzing, testing, retesting, and simulation are important steps before the actual thing or structure goes into mass production. The designing part was traditionally accomplished via the paper-based method, which was long and had a big margin for error. The computer-aided design software has made the entire process easier, quicker, and more accurate, by allowing the designs to be created digitally. Moreover, the designs can be modified unlimited times and simulated to see how they would perform in the real world.
P&S Intelligence considers all these advantages while forecasting a 6.6% CAGR for the CAD software market between 2020 and 2030, at which the revenue generated from the licensing and subscription of such programs will rise to $18.7 billion by 2030 from $9.3 billion in 2019. Seeing this, software vendors have started offering this software for beginners, intermediates, and professionals. Among these, intermediate-level versions are sold the most as they offer a fine balance between functionality and cost. Moreover, with the increasing product complexities and requirement for skilled CAD professionals, software versions that offer the highest degree of functionality are witnessing a surging licensing and subscription rate.
The prominent industries where CAD software is used are aerospace & defense, manufacturing, automotive, healthcare, arts, IT, media & entertainment, textiles, interior design, and shipbuilding. Among these, the software, especially pro versions, is utilized the most in the aerospace & defense sector. This is due to the criticality and complexity of not only entire systems, but also their individual components, which is why they must be designed, tested, redesigned, and then retested multiple times to ensure optimal performance.
In the coming years, the usage of this software will burgeon in the healthcare sector on account of the increasing complexity of medical issues, which is creating the need for cutting-edge devices and equipment. For instance, for the purpose of implants, data from radiological scans can be fed to the CAD software to create the perfect model of the prosthesis or organ to be implanted. Moreover, with medical implants increasingly being created via 3D bioprinting, the need for CAD software will rise, as the 3D printer essentially manufactures the CAD model.
Similarly, the usage of this software is booming in the automotive sector, which is one of the most-intensely competed of all. With the rising demand for modern vehicles with sleek designs and connected, electric propulsion, and autonomous features, the usage of CAD software is surging among automakers. Further, as many people want their automobiles to reflect their personality through looks and performance, CAD software is being leveraged for mass customization, which is not always possible through manual designing.
Presently, North America is the largest CAD software market majorly due to the high importance of these programs in the aerospace & security sector. Being home to some of the largest companies in this industry, including The Boeing Company, Lockheed Martin Corporation, and Bombardier Inc., this continent witnesses wide applications of this software. Additionally, many of the providers of this software are headquartered in the region, which improves the access to it massively.
Moreover, as the manufacturing and other industries of Asia-Pacific (APAC) advance and embrace the newest technologies and production methods, the usage of this software will burgeon. CAD is already being used heavily in the regional healthcare sector to design medical tools, while its usage in the construction sector for the designing of entire townships is rising too. Further, APAC is home to numerous CAD service providers, to which North American and European firms outsource their designing and simulation requirements.
Therefore, with the increasing complexities in the designing, testing, and simulation processes across industries, CAD software will see a high rate of licensing and subscription.
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