The global CAD In automotive industry is expected to witness significant growth over the forecast period. Computer Aided Design (CAD) software is an effective tool for designing and modeling products with ease and precision. The market is expected to witness growth over the forecasted period owing to the usage of tooling and rapid prototyping by automotive industries. These solutions let engineer apply multiple light sources, render designs from any angle and rotate objects in three dimensions. Key drivers such as reduction in maintenance & repair costs and increase in the efficiency of product are expected to drive market growth. The aforementioned drivers save time and resources required in initial testing of product design theories and other aspect by eliminating the requirement of physical prototype.
The software has helped industry participant to revolutionize their work processes, to improve their product designs, and to grow their business. It is also helping the companies to communicate their product concept to venture capitalist or potential investors to push growth over the forecasted period. Thus, enabling companies to add features through innovative solutions and in turn maximizing the end user experience.
Other key drivers that are expected to propel market growth include awareness to technological development, customer need, and market competition. These have helped the automotive companies to work efficiently and effectively and thus increasing their revenues substantially.
Market restraint for the CAD software in the automotive market includes adoption of similar software such as UniGraphics, CATIA, Solid Works, and Pro Engineer Wildfire. The aforementioned softwares have enabled stiff competition in the market. Another very important restrain is the availability of open sourced codes that would obstruct the revenue growth in the market over the next seven years.
CAD software in the automotive industry is broadly segmented to passenger vehicle industry and commercial vehicle industry. In passenger vehicle industry it is further segmented to two/three wheeler and four wheeler. Whereas, in commercial vehicle industry it is segmented into truck, van, bus, and trailer. In this market CAD is primarily used as mechanical design software to create, modify, analyze, and optimize a design, to drive innovation, slash costs and get incredible new products.
CAD is a tool which increases the productivity of the design, improve communications through documentation, improve the quality of design and create a database for manufacturing. Thus, today its latest trends such as cloud and mobile-based solutions are expected to add opportunities in the industry demand. Companies prefer cloud-based models owing to benefits such as flexibility, ease of access, pay-per-use model and remote access model. Mobile-based 3D CAD software enables enterprises to provide ubiquitous solution to the end users. Market is expected to witness huge investment being made in mobile application and thus witness increase in profit margin by bringing down the expenses.
The market segmentation by region witnesses North American and European region to show majority of growth owing to the increased R&D investment and increased capital investment by automobile manufactures. European region is also expected to follow the past trend of using the software to design electric cars in the forecasted period by countries such as Germany, France, the UK, and Italy. The prime focus of the these countries has been on developing energy-efficient internal combustion engines, fuel cell cars, hybrid cars, electric cars, and smart devices for automobiles. This focus will drive the demand for CAD software market in the future.
The CAD In Automotive Industry is expected to exhibit the highest CAGR in Asia Pacific region by 2022 mainly due to the adoption of CAD software by the large automobile companies such as Honda, Mazda, Nissan, Mahindra & Mahindra, Tata, Hyundai, Kia and Maruti Suzuki.
The reduction in cost, design error and time is expected to drive market growth in APAC across industries. For an instance, Nissan Motors, a Japanese automobile manufacturer, had been facing intense pressure to develop environment-friendly cars, to reduce time to market and to support their global supplier. This has led the company to adopt the NX I-deas, and Siemens PLM Software NX, which reduced the product development cycle and vehicle after-sales issues substantially.
Key players include Graitec, Autodesk Inc., Graphisoft, Bricsys, Knowledge Base, Bentley System, DassaultSystemes, Gehry Technologies, Trimble, CAXA Technology Co. Ltd and Suzhou Gstarsoft Co. Ltd. Autodesk acquired Delcam, an advanced supplier of CAD/CAM solutions for the automotive industry. Its software portfolio includes Fusion 360, InfraWorks, AutoCAD Civil 3D and AutoCAD for PC.
In April 2015, Dassault Systemes announced the acquisition of Model on GmbH to enhance its systems simulation and modeling, which are crucial to transform the mobility and transportation. In July 2014, Dassault System announced that it has signed definitive agreement to acquire Quintiq to enhance its product portfolio and technological capability. In February 2015, Bentley Systems Inc. announced that it has acquired Acute3D, provider of reality modeling solutions. Bentley System product portfolio include various solution such as bridge design and engineering, geotechnical, land development, 3D imaging & cloud, GIS & mapping, nuclear operation, electric & gas utility network analysis, and design. It also develops solution for transportation, railway, plant & road design, and water & waterway design.
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."
The automotive & transportation industry is amongst the most exposed verticals to the ongoing COVID-19 outbreak and is currently amidst unprecedented uncertainty. COVID-19 is expected to have a significant impact on the supply chain and product demand in the automotive sector. The industry's concern has moved on from being centered on supply chain disruption from China to the overall slump in demand for automotive products. The demand for commercial vehicles is expected to plummet with the shutdown of all non-essential services. Furthermore, changes in consumer buying behavior owing to uncertainty surrounding the pandemic may have serious implications on the near future growth of the industry. Meanwhile, liquidity shortfall and cash crunch have already impacted the sales of fleet operators, which is further expected to widen over the next few months. We are continuously monitoring the COVID-19 pandemic, and assessing its impact on the growth of the automotive & transportation industry. The report will account for Covid19 as a key market contributor.