The Future of 3D CAD Software Market - Cloud Based or Desktop?
3D modeling and design software are one of the biggest trends in the industry right now. It’s no wonder; with so many different applications to choose from, it can be difficult to find the perfect solution for your company. Luckily, the industry is ripe for innovation, which will only increase with the future demand for 3D cad software.
This blog post will cover some key points from our report and provide further insight into the future of 3D CAD Design Software.
3D CAD Design Software Market Size, By Product and Service
The 3D CAD Design Software market is expected to grow at a CAGR of 34.3% during the forecast period, with market size of $8.8 billion in 2019 and $12.2 billion by this year. Rising demand for 3D printing and increasing demand for advanced manufacturing technologies are the major factors driving the market.
In addition to the rising demand for customized products and advanced design software are some of the other factors driving the market. Geographically, North America led the market in 2017, followed by Europe and Asia-Pacific.
The market for 3D CAD Design Software is highly consolidated. These factors, as well as increasing investments in research and development activities, are the key growth drivers for the market.
3D CAD Design Software Market Growth Factors
The market for 3D CAD Design Software is expanding with increasing investments in research and development activities.
The advent of cloud-based solutions has helped in providing end-to-end solutions for product design. Moreover, the growing adoption of IoT across various industries is also a major factor in the market growth.
Rising demand for customized products and advanced design software are some of the other factors driving the market. The Internet of Things (IoT) and advanced machine intelligence are driving innovations in autonomous manufacturing.
These factors, as well as increasing investments in research and development activities, are the key growth drivers for the market.
The 3D CAD Design Software market has witnessed significant growth owing to the growing demand for advanced manufacturing technologies. Increasing demand for customized products and advanced design tools drives the growth of 3D CAD market.
Market growth is expected to driven by the increasing adoption of IoT across various industries, along with investments in R&D activities. However, regulatory guidelines are hindering market growth.
Market Prospects: Key Players and Future Trends
Cloud-based solutions are also becoming more popular, which is expected to further accelerate market growth.
A CAGR of 34.3% is projected for the Cloud-based Design market from 2018-2022.
Furthermore, the increasing use of 3D printing for manufacturing has been a challenge for the market.
Besides, the market is segmented based on the type of product, end-user, and geography. The report, therefore, provides comprehensive insights into the market, evaluates the market prospects, and provides key insights into the future of the market.
This market is one of the fastest growing markets in the CAD Software sector. The adoption of Cloud-based Design Software such as 3DExperience SolidWorks is expected to be driven by its potential to improve the quality and efficiency of product design and manufacturing.
On top of that, the increasing demand for customized products is expected to drive the market in the near future.