According to a new market research report “Computer-Aided Manufacturing Market by Component (Solution and Services), Organization Size, Deployment Type, Industry Vertical (Automotive, Aerospace & Defense, High-Tech, Industrial Equipment, Energy & Utilities), and Region - Global Forecast to 2023” Published by MarketsandMarkets™, the Computer-Aided Manufacturing (CAM) market size is expected to grow from USD 2.3 billion in 2018 to USD 3.4 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period. The growing demand for industrial automation and increased need to enhance manufacturing processes is driving the growth of the CAM market.
Furthermore, CAM solutions offer various competitive advantages to enterprises including increasing machining efficiency, reducing material wastage, and reducing manufacturing time. These benefits are driving the adoption of CAM solutions across various industries globally.
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The major CAM vendors include Autodesk (US), Dassault Systèmes (France), Hexagon (Sweden), Siemens (Germany), 3D Systems (US), PTC (US), HCL (India), CNC Software (US), OPEN MIND Technologies (Germany), DP Technology Corp. (US), MecSoft (US), SolidCAM (US), NTT DATA ENGINEERING SYSTEMS Corporation (Japan), BobCAD-CAM (US), ZWSOFT (China), and SmartCAMcnc (US).
These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the global CAM market. Partnerships and new product launches have been the most dominating strategies adopted by the major players from 2015 to 2018, which have helped them innovate their offerings and broaden their customer base.
Autodesk is one of the leading players in CAM market across the globe. The company offers CAM solutions to enhance and fast track manufacturing processes of enterprises operating in various industries, including in architecture, engineering, and construction, product design, manufacturing, and entertainment.
Autodesk has built a strong brand value in the global CAM ecosystem, catering to its clientele across different industries. As a part of its growth strategy, in December 2018, Autodesk acquired PlanGrid to develop complementary construction software. Autodesk’s BIM 360 construction management platform connects people, data, and workflows on construction projects.
Hexagon is another prominent player offering CAM solutions and services. The company is globally recognized for its comprehensive portfolio of CAM solutions and service. The company continually strives to offer innovative CAM solutions and emphasizes on expanding its partner network to strengthen its foothold in the global CAM Market. In December 2018, Hexagon released a new version of VISI software to boost reverse engineering. It also comprises new and improved CAD/CAM functions for the die and mold market.
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The report "Computer-Aided Manufacturing Market by Component (Solution and Services), Organization Size, Deployment Type, Industry Vertical (Automotive, Aerospace & Defense, High-Tech, Industrial Equipment, Energy & Utilities), and Region - Global Forecast to 2023", The CAM market is expected to grow from USD 2.3 billion in 2018 to USD 3.4 billion by 2023, at a CAGR of 7.6% during the forecast period.
Growing demand for automation of manufacturing process, production of customized products, and increasing use of CAM solution in the arena of fashion and lifestyle, prosthodontics, and prosthetics and orthotics are some major factors driving the growth of the CAM market.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=251259446Automotive industry vertical is expected to hold the largest market size in the global CAM market during the forecast periodAutomotive industry vertical is continually evolving to offer vehicles powered with advanced IT technologies, which can exceed customer expectations.
Automobile manufacturing requires advanced technological methods and processes.
Use of CAM solution enables automakers reduce production time and cater to global demand of customers.
For instance, automotive companies such as Bentley Motors (UK), Ford (US), and BMW (Germany) have adopted the CAM technology to manufacture their own car parts.
With the growing complexity of the parts involved in the vehicles, automotive vertical is expected to be characterized by innovative production and design concepts which could lead the increase in adoption of CAM technologies.The services segment is expected to grow at the fastest CAGR during the forecast periodCAM services have a wide scope of usage for efficiently carrying out various tasks performed in the entire manufacturing process of an organization.
Data Bridge Market Research analyses that the computer aided manufacturing market will exhibit a CAGR of 7.98% for the forecast period of 2021-2028.
Rising adoption of automated technologies and increasing demand for technologies that offer ease in business operations are the two major factors attributable to the growth of computer aided manufacturing market.
To thrive in this competitive age, business should get knowledgeable about the major accomplishments taking place in the market.
Market research analysis and all the information lends a hand to businesses for the planning of production, product launches, costing, inventory, purchasing and marketing strategies.
To get success in this competitive market place, Computer Aided Manufacturing market research report plays a vital role which provides important and meaningful market insights for any business in the Computer Aided Manufacturing industry.
Choosing such market research report is all the time beneficial for any company, whether it is a small scale or large scale, for marketing its products or services.The report analyses and estimates general market drivers in the form of consumer demand, government policy and demand which are related to consumer buying pattern, market growth and development.
A new study on the Computer Aided Detection market provides a detailed overview of the demands and consumptions of various products/services associated with the growth dynamics of the market during the historical period 2015 – 2019.
The in-depth market estimation of various opportunities in the segments is expressed in volumes and revenues during the forecast period 2020 – 2025.
These are covered in numerous sections, including, drivers and restraints, challenges and opportunities, regional segmentation and opportunity assessment, end-use/application prospects analysis, and competitive landscape assessment.
On the back of such trends, it is anticipated that the global computer aided detection market shall expand twofold during the forecast period of 2020 to 2025, registering a staggering CAGR of 9.8%.
The market is anticipated to surpass a valuation of US$ 1.1 Bn by the end of 2025.Key stakeholders in the Computer Aided Detection market including industry players, policymakers, and investors in various countries have been continuously realigning their strategies and approaches to implement them in order to tap into new opportunities.
Many in recent months have overhauled their strategies to remain agile in the backdrop of worldwide disruptions caused by the COVID-19 pandemic.
