3D CAD Software Global Template Market To Reach $14.24 Billion By 2028 With A Growth Rate Of 6.4%
3D CAD Software Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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What's the Market Size and Growth Rate for 3D CAD Software?
Recent years have seen the 3D CAD software market size grow strongly. This trend is expected to persist as predictions indicate a surge from $10.43 billion in 2023 to $11.1 billion in 2024, with a compound annual growth rate CAGR of 6.4%. Factors contributing to this growth include the globalization of design and manufacturing, increasing complexity in product design, the rising use of simulation and analysis tools, and an intensified focus on product lifecycle management.
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Over the next few years, the 3D CAD software market size is expected to witness substantial growth. Projections indicate that it will grow to $14.24 billion in 2028 at a CAGR of 6.4%. This projected increase attributes to burgeoning industries like automotive and healthcare, the rise in the adoption of building information modeling BIM, and the focus on sustainable design.
What Drives the 3D CAD Software Market Growth?
The increasing demand from the ever-expanding automotive industry is expected to drive the 3D CAD software market in the forecast period. CAD technology is instrumental during automotive engineering works and designing—it aids in prototyping, enhances accuracy to reform work processes, and supports in further development of item plans for business expansion. Case in point, electric car sales doubled to 6.6 million from 3 million in 2020 in 2021, while the manufacturing of cars in India grew to 30.82 lakh units in 2021 from 24.33 lakh units in 2020.
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Who Are the Key Industry Players in the 3D CAD Software Market?
The industry comprises various significant players such as Siemens PLM Software Inc., Oracle Corporation, Intergraph Corporation, Hexagon AB, Autodesk Inc., Trimble Inc., ANSYS Inc., Parametric Technology Corporation, Dassault Systèmes, Bentley Systems Inc., and others.
These businesses have been instrumental in paving the development and growth path of the 3D CAD software market.
Are There Emerging Market Trends in the 3D CAD Software Industry?
The industry is continuously evolving with major companies focusing on nurturing innovative solutions. This push for innovation is evidenced by the introduction of comprehensive 3D CAD software packages by companies such as Dassault Systèmes SE that launched two software packages in 2021— 'SOLIDWORKS for Makers' and 'SOLIDWORKS for Students'.
How Is the Market Segmented?
The 3D CAD software market report segments it based on:
1 Deployment Outlook: Cloud, On-premise
2 Enterprise Size: Small Business, Midsize Enterprise, Large Enterprise
3 Application: Automotive, Architecture, Healthcare, Manufacturing, Construction, Media And Entertainment, Engineering, Other Applications
What Are the Regional Insights Into the 3D CAD Software Market?
In 2023, North America held the largest share in the 3D CAD software market, with Asia-Pacific predicted to be the fastest-growing region in the forecast period. However, the report covers multiple regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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