Dublin, Feb. 11, 2022 (GLOBE NEWSWIRE) -- The "U.S. CAD Software Market Research Report - Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
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 U.S. is home to several industries that were significantly affected because of the lockdown imposed by the government to control the spread of the COVID-19 infection. For example, the growth of the automotive industry slowed down massively because of the disruptions in the manufacturing and supply chain processes on account of the imposition of lockdowns and restrictions on the movement of people and goods.
This subsequently hampered the progress of the U.S. computer-aided design software market as the demand for the software fell among automobile manufacturers.
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 Systemes 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.
Market Dynamics
Trends
- Focus On Acquisitions by Market Players
- Shift From License-Based To Subscription-Based Model
- Transition From 2D Cad To 3D Cad
Drivers
- Increasing Use of Cad Software In Packaging Industry
- Growing Cad Adoption In Automotive Industry
Restraints
- Availability of Free and Open-Source Cad Software, Coupled With Software Piracy
- High Cost of Advanced and 3D Cad Software
Opportunities
- Growing Adoption of Saas-Based Model
- Rising Popularity of Cloud-Based Cad Services
Impact of COVID-19 On U.S. Cad Software Market
Porter's Five Forces Analysis
Company Profiles
- Dassault Systemes SE
- Autodesk Inc.
- Bentley Systems Inc.
- Trimble Inc.
- PTC Inc.
- 3D Systems Corporation
- AVEVA Group plc
- Hexagon AB
- IronCAD LLC
- CNC Software Inc.
- Siemens AG
For more information about this report visit https://www.researchandmarkets.com/r/ylwy2h
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