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TechNavio has initiated an in-depth coverage of the Engineering services market in 2010.TechNavio covers the following technology segments:
CAD, Dental CAD/CAM, CAE, PDM, CFD, FEA, Digital Manufacturing, CAM, PLM and Other Engineering Technologies.
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| In This Report |
- Market Size, Forecast and Market Segmentation
- Market Trends, Drivers and Challenges
- Vendors (Siemens PLM, Dassault Systems, PTC, Ansys, MSC Corp., Bently, Autodesk Inc., CAXA Technolohy and KM Soft)
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| Aerospace and Shipbuilding driving the demand for MCAD |
Historically, companies have treaded engineering as a core business activity, while manufacturing was moved to Asia due to the benefits of low cost country sourcing. However, the challenging business environment in the recent past has prompted the engineering industry to aggressively follow the path of manufacturing and move to Asia. This trend has been followed by many global and low cost designing houses that started opening operations in the region.
Over the previous years, the Engineering Software market has seen a consistent year-on-year growth rate in Asia. The manufacturing firms in Asia Pacific region are employing Engineering Software to improve the quality of their products. Further, in order to compete in the global market, the manufacturers in the region are required to provide products at low cost. This is forcing these manufacturers to increase their reliance on Engineering Software to design, develop, analyze and test a product for reliability, durability and quality, which helps them in maintaining their competitive edge.
While Japan has always been a key Asian market for Engineering software, China, South Korea, India are now emerging as the key markets. Among other engineering applications, Computer Aided Design (CAD) is widely popular in Asia. Benefits such as decreased product designing and developing costs are increasing the adoption rate of CAD. Further, IT investments by SMBs, decreasing prices, availability of advanced hardware, etc, are driving the adoption.
According to TechNavio, the Chinese 3D MCAD market is expected to grow at a rate of roughly three times the global market growth rate. The growing Manufacturing sector and the booming Shipbuilding and Aerospace industries are two of |
| China is the fastest growing CAD market in Asia |
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| Exhibit 1: the relative growth rate of top MCAD markets in Asia |
| Factors driving the MCAD market in China |
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| Exhibit 2: Key drivers for MCAD market in China |
| the major factors driving the MCAD market in China. Nearly 60 percent of survey respondents cited these two as the major drivers (Based on the results of 'CAD Market in China - Shift from 2D to 3D' survey conducted by Technavio). |
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