Mechanical engineering

Industry Insights In the uncertain time of COVID-19, Market Research Future has come with the latest study on the global Computer-Aided Design (CAD) Market 2020.

The survey enclosed the impact of COVID-19 on the economy.

On this, MRFR reveals the global market earlier achieved a valuation of USD 7.47 Billion in 2020 and would scale up to USD 14.18 Billion by 2027.

The evaluation of the escalation would take place during the years (2020 to 2027)—the forecasted period.

Top Impacting FactorsThe acceptance of CAD design platform in assorted manufacturing industries and disciplines to generate models and drawings is the foremost driver for the development of the global CAD market.

The CAD-based designs are used throughout the life cycle of a product and at different stages such as concept verification, design verification, and failure verification.

OverviewThe Computer-Aided Design Market is anticipated to grow by US$14.18 Billion by 2025 rapidly growing at a CAGR of 10.0% during the forecast period 2019–2025.

The global Computer-Aided Design Market is driven by increase in the adoption of 3D technology and .

These factors have helped shape the Computer-Aided Design Market and are expected to boost the growth.

Companies in the Computer-Aided Design Market could also face challenges such as rising security concerns over cloud-based CAD solutions and emergence of building information modelling (BIM).

The performance of the Computer-Aided Design Market has also been studied for the past and current years.

The Computer-Aided Design Market report provides major information about regional markets of North America, Europe, Asia-Pacific (APAC), and the rest of the world.

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AutoCAD is powerful engineering tools which are commonly thought of as competing products.

A company in engineering will be more prepared for any task by using both of these software applications.

Cloud computing functions in the most recent versions of these programs permit for long-distance collaboration.

They also eliminate the need to share project files through USB drives or email.

According to IMARC Group’s latest report, titled “Surfboard Market Size, Growth, Trends, Share, Demand, Opportunity and Forecast 2020-2025”, the global surfboard market grew at a CAGR of 7% during 2014-2019.

Looking forward, IMARC Group expects the global market to continue its moderate growth during 2020-2025.The surfboard market is primarily driven by the escalating number of surfing competitions and the growing trend of surf tourism.

Along with this, the launch of electric surfboards is anticipated to provide an impetus to the market growth.

These variants allow surfers to enjoy surfing in the absence of waves due to the electrically propelled design and the superior torque offered by them, thereby ultimately enhancing the overall user experience.

Moreover, numerous manufacturers are introducing sustainable surfboards made from eco-friendly materials, such as expanded polystyrene (EPS), that are extensively gaining prominence among the masses.

The increasing integration of advanced technologies, including computer-aided design/computer-aided manufacturing (CAD/CAM) systems, with surfboards is acting as another major factor driving the market further toward growth.A surfboard is a light yet sturdy elongated platform that supports a surfer while riding ocean waves.

Global Electrical Computer-Aided Design (ECAD) Market Research Report: by Component (Software and Services), by Industry Type (Discrete Industries and Process Industries), by Application (Industrial Machine Controls, Plant Design, Mining Equipment Control, Rail Signaling, Switchgear Design, Water Treatment and Distribution System Control, and Others), by Vertical (Automotive, Aerospace & Defense, Construction, Railway, Power Generation and Energy, Equipment and Machinery, Oil & Gas, Food & Beverage, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World) — Forecast till 2024Global Electrical Computer-Aided Design (ECAD) Market OverviewThe global electrical computer-aided design (ECAD) market is expected to reach USD 2860.3 million by 2024 at a CAGR of 9.22% during the forecast period.

Market Research Future (MRFR) in its report envelops segmentations and drivers to provide a better glimpse of the market in the coming years.Cloud computing is a driving force for the designing field, as it enables designers to access tools and collaborate with their teams over a single platform to make informed decisions during the designing stage.

According to a Worldwide CAD Trends 2016 survey conducted by Business Advantage, the use of cloud-based CAD is likely to go up to 29% over the next three to five years.

However, the piracy of ECAD software is a major factor limiting the growth of the global electrical computer-aided design (ECAD) market.

Increasing use of cloud-based ECAD tools and increasing demand for automation in process industries such as oil & gas and manufacturing are contributing to the growth of the global electrical computer-aided design (ECAD) market.Competitive AnalysisThe key players of the global electrical computer-aided design (ECAD) market are Dassault Systèmes SE (France), EPLAN Software & Service (Germany), Siemens AG (Germany), Autodesk, Inc. (US), Trimble, Inc. (US), Bentley Systems, Inc. (US), Nemetschek SE (Germany), IGE+XAO (France), and ALPI International Software (France), among others.In January 2019, Trimble launched the latest version of its architectural modeling software — SketchUp Pro 2019.

The product has layers with dashed lines which allow simplifying drawings with effective communication.In February 2017, IGE+XAO Group opened a new subsidiary in India — IGE+XAO INDIA Private Limited — to enhance its distribution capabilities.

The global Computer-Aided Engineering (CAE) Software Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.

Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.

The major players in the Computer-Aided Engineering (CAE) Software include  Siemens Product Lifecycle Management Software Inc., Dassault Systemes, Altair Engineering, Inc., CD-adapco,  Mentor Graphics, Inc., AspenTechnology, Inc., MSC Software Corporation, ESI Group, Computational Engineering International Inc.,  Exa Corporation, and Bentley Systems Incorporated..

This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Computer-Aided Engineering (CAE) Software Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/computer-aided-engineering-cae-software-market/download-sampleMarket SegmentationThe broad Computer-Aided Engineering (CAE) Software has been sub-grouped into the Deployment Model, Type, End-User and Region.

The report studies these subsets with respect to the geographical segmentation.

The strategists can gain a detailed insight and devise appropriate strategies to target specific market.

Electrical Computer-Aided Design MarketThe global electrical computer-aided design (ECAD) market spans across North America, Europe, Asia-Pacific, and the rest of the world.The increasing use of cloud-based ECAD tools and increasing demand for automation in process industries such as oil & gas and manufacturing are factors expected to drive the electrical computer-aided design (ECAD) market during the forecast period.

However, the designing and creation of ECAD models require a high level of skilled expertise, which is expected to limit the market growth during the forecast period.

Further, proliferation of smart grids and smart metering is expected to act as an opportunity for players in the global electrical computer-aided design (ECAD) market during the forecast period.The geographic analysis of the electrical computer-aided design (ECAD) market has been conducted for North America, Europe, Asia-Pacific (APAC), and the rest of the world (RoW).

North America is expected to dominate the electrical computer-aided design (ECAD) market during the forecast periodowing to the increasing number of process and discrete industries and high investments in industrial manufacturing in the region.

Among the major countries in North America, the US exhibited steady growth in the global electrical computer-aided design (ECAD) market over the last decade.

The major electronics and semiconductor companies in the US are increasingly adopting 3D printing technologies with the help of computer-aided design for printed circuit board designs.