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The computer-aided design market share is expected to increase by USD 3.28 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 6.41%.
This computer-aided design market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers computer-aided design market segmentations by end-user (automotive, manufacturing, AEC, healthcare, and others) and geography (North America, Europe, APAC, MEA, and South America). The computer-aided design market report also offers information on several market vendors, including Autodesk Inc., Bentley Systems Inc., Dassault Systemes SE, FUJIFILM Holdings Corp., General Electric Co., Hexagon AB, IMSI Design LLC, PTC Inc., Siemens AG, and Trimble Inc. among others.
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Based on our research output, there has been a neutral impact on the market growth during and after the post-COVID-19 era. The increasing demand for CAD for manufacturing products is notably driving the computer-aided design market growth, although factors such as may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the computer-aided design industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Computer-Aided Design Market Driver
One of the key factors driving the computer-aided design market is the growing availability of subscription-based CAD software. The growing availability of subscription-based CAD software will fuel the growth of the computer-aided design market size. Recently, the market has shifted from the license-based to the subscription-based model. The high ROI on subscriptions will encourage CAD vendors to gradually reduce the sales of perpetual CAD licenses before finally discarding them. Since the SMEs are also able to invest in CAD, this current scenario is a growth driver for the market in focus. CAD subscription-based offerings are eliminating the continuous use of traditional 2D CAD software among users and encouraging 3D CAD software use. Furthermore, through the subscription-based model, CAD vendors are redesigning the available products to provide customers with customized offerings and redefine their sales strategy to attract more organizations and professionals to use the software.
Key Computer-Aided Design Market Trend
The gradual shift of end-users to 4D CAD is another factor supporting the computer-aided design market growth in the forecast period. In the global CAD market, end-users are gradually transitioning from 3D to 4D CAD models. The competition among CAD solution providers has become more intense as a result of globalization. The lack of product differentiation complicates the race for market share. To improve the customer experience, vendors are adding new features and functionalities to their solutions. 4D CAD solutions are being developed by CAD providers for improved operational performance and project execution strategies in a variety of industries. As a result, these solutions make it easier to manage resources effectively while staying on track with project deadlines. Furthermore, developers are planning to incorporate features such as detailed differentiation for graphical representation, improved data exchange standards, dynamic work execution spaces in 4D simulations, facilitating a comprehensive analysis, and advancing the use of 4D principles to incorporate tools such as geographic information system (GIS), cost estimation, and health and safety into 4D simulations which will further drive the market growth during the forecast period.
Key Computer-Aided Design Market Challenge
The increasing availability of open-source and free versions of CAD software will be a major challenge for the computer-aided design market during the forecast period. The demand for open-source software has increased as the demand for digitalization has increased in the current market scenario. Moreover, several business analytics tools and applications are available from open-source vendors. For instance, on the Internet, a user can easily find various types of feature-rich software such as CAD software without any payment. Due to this, many SMEs use open-source software because the costs of purchasing and licensing commercial software are prohibitively high. Furthermore, most open-source CAD software includes all of the primary and common features found in proprietary CAD software. Moreover, the main advantages of open-source platforms over commercial software are the availability of source code and the ability to deploy quickly and reliably. However, it becomes easy for the user but at the same time, it hampers the growth of the CAD software market.
This computer-aided design market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global computer-aided design (CAD) market as a part of the global systems software market. Furthermore, growing demand for IT security solutions, rising demand for mobile enterprise applications, and a growing number of data centers are driving the market growth. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the computer-aided design market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the computer-aided design market encompasses successful business strategies deployed by the key vendors. The computer-aided design market is fragmented and the vendors are deploying growth strategies such as expanding their portfolios to gain a competitive advantage in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The computer-aided design market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the computer-aided design market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global systems software market includes the following core components:
The report has further elucidated other innovative approaches being followed by service providers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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