The CAD software market is observing the trend of a shift from the license-based model to a subscription-based one. Many small and medium enterprises have limited resources and find it challenging to procure CAD software due to its high pricing. The development and installation of the software is cost-intensive, which prevents the manufacturers from lowering the software cost. Therefore, to benefit both, the user as well as the software provider, software companies are offering subscription-based plans to users for the maximum adoption of CAD software by enterprises of all sizes.
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The CAD software market is witnessing growth due to the high demand for software in the automotive industry. There have been multiple incidents of product recalls in the industry due to various reasons, including design flaws. Further, with the rising market competition, customers have become more focused on the product quality over brand image. As connected cars are anticipated to make it to the market in the coming years, automobile designers are increasingly focusing on developing advanced tools and solutions that would further aid in the development of error-free designs.
The provision of cloud-based CAD services is expected to open up new avenues for revenue generation for manufacturers and service providers operating in the CAD software market. For easy storage, retrieval, and sharing of data, many engineering, and design firms are using cloud-based solutions. Because of their flexibility, scalability, and economical service, cloud-based CAD solutions are being highly preferred by SMEs. These solutions also facilitate in running the software remotely, thereby eliminating the need for installing the software on local network servers or workstations.
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Hence, the market for CAD software is predicted to experience prosperity in the forecast period as the demand for accurate product designs is surging across various industries, such as automotive and packaging.
Global CAD Software Market Segmentation
Market Segmentation by Technology
- 2D Software
- 3D Software
Market Segmentation by Deployment Type
- On-Premise
- Cloud
Market Segmentation by Model
- Wireframe
- Surface
- Solid
Market Segmentation by Level
- Beginner
- Intermediate
- Pro
Market Segmentation by Application
- Aerospace and Defense
- Arts
- Manufacturing
- Automotive
- Healthcare
- Media and Entertainment
- Others (Information Technology [IT], Consumer Products, Garments, Shipbuilding, and Interior Design)
