NEW YORK, Nov. 2, 2021 /PRNewswire/ -- The U.S. CAD software market value stood at $2,458.6 million in 2020, and it is expected to rise to $4,271.5 million by 2030, exhibiting a CAGR of 5.7% from 2020 to 2030. The major factor driving the market is the surging usage of the CAD software in the packaging industry and automotive industry.
The surging use of the CAD software in the automotive industry is fueling the progress of the industry.
Between 3D and 2D software, the demand for the former was higher during the last few years, and this trend will continue in the upcoming years. The 3D software works more efficiently and provides a deeper insight when drawing designs than the 2D version.
End users are predicted to prefer cloud-based deployment over the on-premises one in the coming years. This is because the cloud provides improved agility, remote access from any internet-connected device, and better scalability.
The aerospace and defense industry is expected to use the CAD software extensively in the coming years, owing to the growing requirement for state-of-the-art space shuttles, aircraft, and missiles. High accuracy is required in the production of aerospace and defense components, which is fueling the adoption of the CAD software for product designing in this industry.
The players operating in the U.S. CAD software market are focusing on mergers and acquisitions to bolster their position. For instance, an agreement was signed by 3D Systems Corporation in September 2021 for acquiring Oqton Inc., a software company that offers cloud-based manufacturing operating system (MOS) platforms.
The industry is fragmented in nature because of the presence of various major players.
The mushrooming requirement for the CAD software in the packaging industry is one of the major growth drivers for the U.S. CAD software market. Packaging systems are needed for labeling, product filling, strapping, and wrapping processes. With these machines becoming highly complex, designers and engineers are turning to the CAD software for meeting the mechatronic engineering challenges. This software makes unconventional modeling of packaging equipment possible via simulation and various communication control tools, which assist in the optimization of motors and selection of actuators.
Dassault Systèmes SE, Hexagon AB, Bentley Systems Inc., Autodesk Inc., 3D Systems Corporation, Trimble Inc., Siemens AG, IronCAD LLC, AVEVA Group plc, PTC Inc., and CNC Software Inc. are some of the most-significant companies in the market.
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