Technical Illustration Software Market vendors by Size, Share & growth strategies - 2024 | MarketsandMarkets


Posted October 21, 2020 by dheerajpawar7359

[134 Pages Report] To provide detailed information about the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the market growth

 
According to a research report "Technical Illustration Software Market by Type, Technology, Component (Solution, Services), Organization Size, End-User (Automotive & Machinery, Aerospace & Defense, High-Tech & Telecommunications), and Region - Global Forecast to 2024", published by MarketsandMarkets, the global technical illustration software market size is expected to grow from USD 3.8 billion in 2019 to USD 5.1 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 6.2% during the forecast period. The market is highly competitive, with the presence of a large number of market players comprising top-tier and mid-tier companies. The technical illustration software industry is gaining traction and profitable for vendors. Several organizations in different verticals have realized the benefits of technical illustration software and implemented it to speed up the production process by eliminating manual machine inputs.
Browse 107 market data Tables and 33 Figures spread through 134 Pages and in-depth TOC on "Technical Illustration Software Market- Global Forecast to 2024"
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North America to account for the highest market share during the forecast period
North America accounts for the highest market share in the technical illustration software market. North America leads in the adoption of technical illustration software and provides excellent opportunities for growth of the technical illustrations software market. North America has always been an early adopter of new technology or software, and the North American market grows at a faster rate initially as compared to any other region. The booming digitalization across industries is driving the demand for technical illustration software in North America along with a surging need for graphics software by businesses.
Market Players
The major technical illustration software market vendors include Adobe (US), PTC (US), Lattice Technology (Japan), QuadriSpace (US), Corel (Canada), Canvas GFX, (US), Cyient (India), Ignite Technologies (US), Dassault Systèmes (France), Autodesk (US), Siemens (Germany), and SAP (Germany).
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PTC (US) is a global software and services company that delivers solutions to enable their industrial customers digital transformations, thereby helping them provide better design, as well as manufacture and operate their products. The company offers Creo Illustrate in the technical illustration software market to create 3D technical illustrations, 2D drawings, and interactive animated sequences that reflect product configurations and support formats from hard copy to Augmented Reality (AR). PTC Creo Illustrate helps create rich 3D technical illustrations, 2D drawings, and interactive animated sequences that reflect the current product configurations and support formats from hard copy to AR.
Corel is Canadian software specializing in graphics processing. In July 2018, KKR, a leading global investment firm, acquired Corel Corporation from Vector Capital, a leading technology-focused private equity firm. The company’s CorelDRAW Technical Suite 2019 is the latest edition of Corel’s comprehensive graphics suite. CorelDRAW is designed to maximize technical illustration and drafting workflows. CorelDRAW produces precise illustrations, including assembly instructions and complex schematics from original designs or existing 3D CAD renderings. Corel has offices in the US, UK, Germany, Taiwan, China, and Japan. The company’s products are available through a well-established network of international resellers, retailers, original equipment manufacturers, online providers, and on the company’s websites.
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Tags aerospace defense , automotive machinery , hightech telecommunications , technical illustration software , technical illustration software market
Last Updated October 21, 2020