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Computer Aided Design (CAD) Market
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The global Computer Aided Design (CAD) market is expected to reach a market size of USD 12.97 Billion at a rapid CAGR of 5.4% in 2028, according to the latest analysis by Emergen Research. The rapid growth in the market can be attributed to the rise in the adoption of CAD in various application verticals is one of the major factors contributing to growth of the market. Use of CAD software reduces the time taken to sketch. Moreover, 3D models can easily be formed through CAD software. This helps the industries in designing and analyzing the product with just a fraction of the cost as compared to the conventional methods. CAD provides a wide range of modification possibilities to the product right at the designing phase. All these advantages and benefits of CAD contribute to growth of the market. Rise in the digitalization of manufacturing processes is also a major factor for growth of the market.To get more news about computer aided design, you can visit shine news official website.
The Computer Aided Design Market research report is a comprehensive and vital document encompassing business strategies, qualitative and quantitative analysis, and emerging trends of the global Computer Aided Design market. The report offers in-depth research and assessment of the key elements of the global Computer Aided Design market. The research analysts have formulated this report through thorough primary and secondary research with a detailed analysis of the drivers, restraints, challenges, trends, and opportunities to provide a panoramic view of the Computer Aided Design market.
In February 2021, Lectra announced its plans to acquire Gerber Technology in order to expand its market by utilizing the CAD technology of Gerber.
In April 2018, an updated version of Fusion360 was launched by Autodesk Inc. to enhance product designs in automotive and aerospace industries.
North America had the maximum market share in 2020 and is expected to witness a growth over the forecast period, attributed to the large number of new industries being established in the region. Increase in the construction activities in the region is also driving growth of the market.
The cloud segment is expected to register fastest CAGR during the forecast period owing to an increase in the adoption of cloud services availed by companies in order to cut the maintenance cost of the system.
The researchers have considered all the factors influencing the growth of the Computer Aided Design market on the global and regional scale. The report considers the COVID-19 pandemic as one of the key influencing factors of the Computer Aided Design market. The pandemic has disrupted the supply chains and economic scenario of the market and has hindered the growth of the market. The report discusses in detail the overall impact of the COVID-19 pandemic on the Computer Aided Design market and its key segments. The report also offers a current and future impact of the COVID-19 pandemic on the market.
The Global Computer Aided Design Market is further analyzed across the key geographical locations where the market has expanded to a significant size. The key region analyzed are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report offers a country-wise analysis to provide a comprehensive analysis of the Computer Aided Design market in terms of production and consumption patterns, supply and demand ratio, import/export, revenue contribution, trends, and presence of prominent players in each region.