2020 US Industry Statistics and market research – CAD Drafting Services


Posted April 20, 2020 by vectorpeople

These industries have increased their investment in research and development of CAD systems which have driven the demand for this service in emerging economies such as India

 
CAD Drafting services cover all the companies in the US whether it is public or private, ranging from startup businesses to market leaders. The global CAD market is set to reach $11.21 billion in 2023, growing at a CAGR of 7% from 2017-2023.

CAD has been around since the 1950s and it transformed from 2D to 3D during the 1960s due to the advanced technology launched in the market. The replacement of manual drafts by the CAD industry in the cloud synchronization, end-use industries and inspection agencies and initiatives by the government in the product development process has helped the industry to grow more.

Many end-use industries such as civil and construction, electronics and electrical, healthcare, aerospace, and automotive have adopted the CAD drafting services in their product development process, which enables the offerings from 3D to 4D designs. These industries have increased their investment in research and development of CAD systems which have driven the demand for this service in emerging economies such as India, China, and Brazil. However, the development of new tools also creates opportunities in the global CAD market.

In terms of product, the CAD market is a part of CATIA, NX and Solid Edge, Creo, Sketchup, GeoMagic and others. According to research, among these, CATIA is the leading global market and it is set to reach $1,830 million by the year 2023. This is because CATIA facilitates the product development process from designing to engineering and from styling to systems modeling on a single platform.
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Last Updated April 20, 2020