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CAD-and-PLM-Software-Market
The CAD and PLM software market is growing rapidly, fueled by demand for efficient product development, design-manufacturing integration, and digitalization.
AUSTIN, TX, UNITED STATES, January 8, 2025 /EINPresswire / -- The SNS Insider report indicates that the CAD and PLM Software Market size was valued at USD 15.4 billion in 2023 and is expected to grow to USD 31.6 billion by 2032, with a CAGR of 8.28% over the forecast period of 2024-2032.
There is increasing demand for Computer-Aided Design and Product Lifecycle Management software due to the need for more effective and integrated solutions in product design and development phases. Designers use CAD software to build exact two-and three-dimensional models of products, whereas PLM software governs the complete lifecycle of a product, from its inception through design, manufacture, and onwards. These software products are crucial for industries that want to improve their operations, minimize mistakes, and facilitate collaboration across departments.
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Key Players:
The major players in the market are Autodesk Inc., SAP SE, Dassault Systems, PTC Inc., Oracle Corporation, Propel Software Solutions Inc, Simplify3D, Siemens AG, Blender, Infor Inc, Aras Corporation, DuroLabs, and others in the final report.
Rising product complexity, especially in sectors such as automotive, aerospace, and electronics, has driven increased dependence on CAD and PLM systems.
As products become more complex, the need for solutions that enable product development teams to prototype, test, and optimize designs before production is critical. In addition, with Industry 4.0 focusing on high levels of automation, data exchange, and smart production, further acceleration of CAD and PLM software is also underway.
In addition to rising product complexity, the adoption of cloud-based solutions is another factor propelling market growth
These cloud-based CAD and PLM systems enable companies to reap the benefits while not making large upfront investments in IT infrastructure by providing flexibility, scalability, and ease of collaboration. It has also opened up the market as the advanced design and lifecycle management tools formerly reserved for large companies are now available to small and medium-sized enterprises, and SMEs development of digital twins, AR, and VR for design processes is accelerating the evolution of CAD and PLM software. The solutions allow for better product designs and faster time-to-market through more immersive and accurate simulation.
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Segmentation Analysis
By Deployment
The on-premises segment has traditionally dominated the CAD and PLM software market due to its high security, control, and customization capabilities. Many large enterprises prefer on-premise solutions to ensure data privacy, comply with regulatory standards, and manage sensitive intellectual property. The segment remains popular in industries with strict security requirements, such as aerospace and defense, automotive, and manufacturing. However, as companies continue to embrace digital transformation, the growth rate for on-premise solutions is expected to stabilize. Future forecasts indicate that the on-premise segment will continue to hold a significant share, though its dominance may gradually decline as cloud adoption increases.
The cloud segment is expected to register the fastest CAGR in the CAD and PLM software market due to its flexibility, scalability, and cost-effectiveness. Cloud-based solutions allow businesses to access software and data remotely, reducing the need for significant IT infrastructure investments. This is particularly beneficial for small and medium-sized enterprises that require efficient, low-cost solutions.
Regional Landscape
North America dominated the CAD and PLM software market and represented a significant revenue share in 2023, The strong industrial base, along with the presence of key technology companies like Dassault Systems and Autodesk, and the early adoption of advanced technologies, continue to drive high demand for CAD and PLM software. This growth is particularly fueled by innovation in industries such as automotive, aerospace, and manufacturing. Market growth is further fueled by rising requirements for product lifecycle management smart manufacturing and IoT incorporation. North America, owing to its presence in mature industries and high investments in research and development is expected to observe constant demand for advanced CAD and PLM solutions.
Asia-Pacific is projected to experience the fastest CAGR in the CAD and PLM Software Market. In countries such as China, India, and Japan, growth is driven by fast industrialization, a developing manufacturing sector, and the faster process of digitalization. Growing demand for advanced software solutions across industries such as automotive, electronics, and consumer goods as well as smart factory trends are driving the adoption of CAD and PLM tools.
Recent Developments
Autodesk: In May 2024, Autodesk announced the acquisition of Wonder Dynamics, a cloud-based 3D animation and visual effects (VFX) tools company founded by actor and producer Tye Sheridan.
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.