3D CAD Software Market Outlook 2031:
The global 3D CAD software market size was valued at USD 10.38 Billion in 2022 and is projected to reach USD 18.61 Billion by 2031, expanding at a CAGR of 6.7% during the forecast period 2023 - 2031. The growth of the market is attributed to the growing adoption of computer-aided design in the automotive sector along with the increasing focus of manufacturers on additive manufacturing.
3D CAD software, or a three-dimensional computer-aided design, is a technology developed for designing and technical documentation, which offer to replace manual drafting with an automated process. Using 3D CAD software, a user can exactly visualize the objects and can be modified or improved by examining the targeted objects from different angles on the computer.
CAD is specifically designed for detailed engineering of 3D models or 2D model of physical components. It is widely adopted to establish conceptualizing design and product layouts, which can assess strength and dynamic analysis of assembly components.
Additionally, the software is further used to design curves and figures in 2D space and curves, surfaces, and solids in 3D space. The engineering sector is extensively adopting 3D CAD outsourcing in order to elaborate models for the development of their core products.
Cloud-based designing is more favored among various end-use industries as it offers flexibility in designs and streamline workflows. For instance, General Motors Co. has shifted towards the cloud computing products as it decreases the overall spending on IT systems and provides immediate work to teams. Moreover, virtual reality (VR) has revolutionized the 3D CAD technology as it enables the users to visualize designs of products or service by showing the exact model.
Market players are developing several innovative products coupled with other growth strategies to improve their market presence. For instance, in October 2018, Onshape paired with Magic Leap to offer a 3D product design app., which allowed real-time editing of CAD models through Magic Leap device and enabled the engineers to improve their product designs.
3D CAD Software Market Drivers, Restraints, Trends, and Opportunities
- Increasing demand for precise designing, complex structure prototyping, and digitalization in the aerospace, defense, automotive, and manufacturing sectors are anticipated to drive the market growth.
- Increasing usage of CAD software in the packaging industry is driving the 3D CAD software market growth.
- Growing investments by market players to offer products with additional 3D capabilities and innovative technologies such as Internet of Things (IoT) and Augmented Reality (AR) are expected to attract the target consumers and fuel the market growth during the forecast period.
- Innovative solutions such as IoT and AR enable creators to design faster by connecting physical products to digital designs. This is projected to create various growth opportunities for the market players.
- VR-based software creates a real-time experience for users by providing a virtual copy of the model. This factor is expected to spur the market growth during the forecast period.
- The outbreak of COVID-19 pandemic has adversely affected the market growth. Various governments imposed restrictions on people’s movement and put halt the function of the manufacturing units, which act as a challenge that can hamper the market growth.
Scope of 3D CAD Software Market Report
The report on the global 3D CAD software market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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3D CAD Software Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Deployments (Cloud and On-premise), and Applications (Architecture, Engineering, Construction, Manufacturing, Automotive, and Healthcare)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Dassault Systemes, Autodesk Inc., Siemens PLM Software Inc., PTC Inc., and Oracle Corporation.
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3D CAD Software Market Segment Insights
On the basis of deployments, the market is bifurcated into cloud and on-premise. The on-premise segment is projected to represent a considerable market share during the forecast period.
The on-premise software is installed directly on the user’s computer or server, enabling them to retain the design data on their system. This software is increasingly adopted by several end-users operating in highly regulated industries such as healthcare to increase easy data management.
On the other hand, the cloud segment is expected to expand at a healthy CAGR during the forecast period. The cloud-based 3D CAD software are more profitable as compared to on-premise for companies as the deployment of the cloud-based system helps to reduce the maintenance and upkeep cost in the long run. Growing security concerns regarding cloud-based software may pose a challenge to the segment growth.
Based on applications, the market is segmented into architecture, engineering, construction, manufacturing, automotive, and healthcare. The manufacturing segment is anticipated to constitute a large market share during the forecast period due to the wide adoption of the 3D software in the sector to improve production and business operations. Introduction of 4-, 5- and C-axis machines are expected to boost the adoption of 3D CAD software in this sector.
These software help manufacturers to design prototypes and revive the parts movement in the process of production as a magnified version of the 3D model can be established using these technology.
On the other hand, the automotive segment is projected to expand at an impressive CAGR during the forecast period. Increasing adoption of cloud-based 3D CAD technology in the automotive designing and modeling help in effective product designing and development of new products.
The quality of the actual production process can be improved by the prototypes developed with of help of such software. For instance, automotive players such as Honda Motor Co., Ltd., Volkswagen AG, Toyota Motors Corporation, Renault S.A., General Motors Company, and Austin Martin Lagonda Global Holdings Plc are extensively using 3D CAD software for designing their products.
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is estimated to account for a significant market share during the forecast period. The rapid growth of the construction industry especially in the US is expected to boost the regional market growth during the forecast period.
Additionally, initiatives taken by the US government for implementing of the digitalization solutions in the manufacturing sector is a key driver for the regional market expansion. On the other hand, the market in Asia Pacific is projected to expand at a high CAGR during the forecast period. The rising growth in the regional manufacturing sectors due to rapid establishment of new plants and production units from various companies are driving the regional market growth.
The manufacturing sectors of countries such as South Korea and Taiwan are still depending on the traditional methods for product fabrication and designing, thus, creating huge growth opportunities for the market expansion in the region. Significant growth in the engineering design and development industry of emerging economies such as India and Japan is projected to fuel the adoption of designing and modeling tools during the forecast period.
Segments
The global 3D CAD software market has been segmented on the basis of
Deployment
Applications
- Architecture
- Engineering
- Construction
- Manufacturing
- Automotive
- Healthcare
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Some of the key players in the global 3D CAD software market include Dassault Systemes, Autodesk Inc., Siemens PLM Software Inc., PTC Inc., and Oracle Corporation. Majority of the companies are adopting several market strategies such as mergers, acquisitions, partnerships, and collaborations to deal with the growing competition in the market. For instance,
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In November 2018, PTC Inc. acquired Frustrum Inc. with an aim to leverage the expertise of Frustum in 3D printing and combine it with Creo to provide an effective design and enhanced experience to its users.
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In April 2018, Autodesk Inc. announced the launch of an updated software version Fusion 360, which help to enhance the product designs in various industries especially in the aerospace and automotive.
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