17.02.2020 Бизнес

APAC CAD software Market Size, Key Vendors, Growth Rate, Drivers, Volume and Forecast Report

In 2018, the Asia-Pacific (APAC) computer-aided design (CAD) software market reached $2.3 billion and is predicted to grow with a CAGR of 9.4% during the forecast period (2019­–2024). The market is growing due to the increasing usage of CAD in the automotive and packaging industries, and an increasing number of startup companies. CAD involves the use of computers for analyzing, creating, and simulating designs in order to generate technical documentation. This technology is used by architects, engineers, and designers for visualizing concepts.

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On the basis of application, the APAC CAD software market is categorized into media & entertainment, arts, aerospace & defense, automotive, healthcare, manufacturing, and others. The aerospace & defense industry dominated the market during the historical period (2014–2018), holding 25.9% share in 2018. During the forecast period, the automotive category is projected to register the highest CAGR. In both these industries, the requirement for a high level of accuracy and quality in component designing and the demand for advanced features in interior and exterior machine parts is increasing.

When geography is taken into consideration, China was the largest APAC CAD software market during the historical period, accounting for 31.9% of the regional revenue in 2018. The reason for this is the growing number of engineering universities and the expansion of the media & entertainment and automotive industries in the country. The highest CAGR is expected to be recorded by India during the forecast period due to the growing demand for CAD software from the aerospace & defense and automotive industries.

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The popularity of CAD software in the automotive industry is one of the major driving factors for the APAC CAD software market. The requirement for high-quality components is increasing significantly in the automotive industry in APAC. Because of this, auto part buyers are also trying to focus on the quality of their products. In addition, numerous connected cars are predicted to be on the roads in the coming years, due to which automobile designers are becoming more inclined toward using advanced solutions supported by CAD software for developing error-free products.

Another major factor leading to the growth of the APAC CAD software market is the surging adoption of the software in the packaging industry. Due to technological advancements, the complexity of designs in the packaging machinery has increased. This has resulted in the growing adoption of CAD software by engineers and designers to increase the efficiency and throughput. Through simulation and communication control tools, the software enables engineers to provide unconventional modeling. Furthermore, the software is also being increasingly utilized in the industry because of the rising demand for smart packaging.