3D CAD Market to Display Significant Growth During Forecast Period

The increasing merger and acquisition (M&A) activities among computer-aided design (CAD) software providers, rapid shift from 2D to 3D CAD, and rising product recalls in the automotive industry are some of the factors contributing to the growth of the 3D CAD market. The market is expected to attain a size of $7,256.2 million by 2022, progressing at a CAGR of 4.9% during the forecast period 2016–2022.

On the basis of model, the 3D CAD market is categorized into wire frame, solid, and surface models. Out of these, during the historical period (2012–2015), the solid category led the market in terms of revenue, and it is predicted to maintain its lead during the forecast period. This is attributed to the increasing demand for manipulation, simulation, and modification in designs. A solid model is a representation of the solid parts of an object on a computer. This model aids the designer in having a look prior to manufacturing and allows them to make changes if required.

The 3D CAD software offers various designing software and advanced tools to create blue prints of new body styles and design auto components, including engines, tires, circuit boards, and upholstery. Due to these benefits, the demand for such software is projected to surge during the forecast period, leading to the healthy growth of the 3D CAD market.

For instance, Autodesk Inc. is acquiring the business of many software suppliers to combine and leverage the expertise to launch new products and services in the market. Similarly, Bentley Systems Inc. acquired e-on software to improve its visual effects and movie production services and meet the demand for next-generation 3D experience. Further, the rising demand for advanced CAD software and related services by sectors such as aerospace, automotive, and industrial machinery is boosting the 3D CAD market.

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3D CAD facilitates designers with enhanced analysis tools for all tasks, ranging from simulating the flow of fluids to determining vibrations in key structural parts. It offers more advantages such as speedy work, creativity in product design, greater precision and control, and efficient work output, compared to 2D CAD. During the forecast period, the demand for connected cars is expected to rise, and to meet it, automotive designers are using advanced tools and solutions offered by 3D CAD software to develop products with no errors, which, in turn, is contributing to the growth of the market.

Hence, the rapid shift from 2D CAD to 3D CAD and increasing M&A activities are aiding in in the market growth.

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