Global 3D CAD Software Market expected to grow at a CAGR of 9.9% from 2018 to 2023

The global 3D CAD software market is expected to grow with a CAGR of 9.9% during the forecast period. The increasing demand for 3D CAD software among designers to improve communication and enhance design is driving the growth of the 3D CAD software market in recent years. The 3D CAD software for product development offers 3D mechanical design, documentation and product simulation tools. 3D CAD tools are mainly used by product engineers to generate models for prototyping, manufacturing, marketing, and patenting.

3D CAD software witnesses high adoption owing to the continuously changing and improving the environment in various industries such as construction, healthcare, automotive, and manufacturing. To improve realism in clinical training and simulation, many healthcare organizations are using CAD software for 3D printing of prototype

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Fusion 360, the 3D CAD tool helps users to produce highly realistic, high-quality training models in order to simulate the training environment. Owing to this, there is an increase in demand for 3D CAD software from the healthcare industry. Further, the ability of 3D CAD software to eliminate the production of faulty parts in the manufacturing industry is driving the demand for the 3D CAD software market. Moreover, the increasing use of 3D modeling is creating opportunities for the 3D CAD software market during the forecast period. In recent times, the rising demand for showcasing 3D business models to customers are propelling the need for 3D CAD software.

The 3D CAD software market is segmented based on regions as North America, Asia Pacific, Europe, Middle East Africa, and Latin America. The Asia-Pacific region is growing at the fastest pace during the forecast period. The increasing adoption of 3D CAD software in the architecture, engineering, and construction (AEC), and the manufacturing sector is driving the market in the region. India is leading the Asia-Pacific market, as a rise in the adoption of designing and molding tools by the engineering industry, is boosting the growth of the market in the country.  

The major players operating in the 3D CAD software market are PTC Inc., Aveva Group Plc., Dassault Systemes SE, Oracle Corporation, Siemens PLM Software Inc., 3D Systems Inc., Autodesk Inc., Bentley Systems Inc., Hexagon and others. Companies operating in this market are concentrating on research and development, along with acquisitions & mergers and innovation in products, in order to strengthen their market share. For instance, in November 2018, PTC Inc., a computer services and software company announced the acquisition of Frustum Inc., a generative design software company. Owing to this acquisition, the company will provide effective simulation and design experience to users.

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