3D CAD Software Market Will Reach USD 16,748.5 Million By 2030

The global 3D CAD software market is witnessing growth and is projected to reach USD 16,748.5 million by 2030. This can be credited to the growing usage of 3D modeling and the growing need for cloud-based and mobile-friendly 3D CAD solutions. Also, the acceptance of these software is increasing, because of the surging count of experts in the field of designing, mainly in industries like healthcare, aerospace & defense, and automotive. 

In recent years, the solid model category generated the largest revenue share, of over 65%, and the category is also projected to dominate the market in the future as well. The increased demand for enhanced simulation, manipulation, and modification capabilities in designs, coupled with the growing necessity for cutting-edge three-dimensional modeling, is driving the adoption of this model.  

Furthermore, it enables designers to accurately visualize how an object will appear post-manufacturing, empowering them to make necessary adjustments and leading to a substantial demand for this model. 

Since CAD software is costly, many SME companies with no big budget for IT are using professional CAD software on a daily, weekly, or monthly basis through subscription. Due to the high price of every step of adoption from CAD development to implementation, the majority of users who have already used 2D CAD applications made the transition to a subscription-based model. 

During the forecast period, the cloud-based deployment category will witness faster development, growing at a CAGR of over 7.1%. The rapid expansion of this technology can be attributed to its user-friendly nature, accessible through web or mobile applications, or via a local browser, unlike traditional CAD software that requires installation on a local computer.  

It can be updated remotely through a server and is favored by designers for its enhanced collaboration features, streamlined workflows, and the ability to design from any location. Furthermore, it is cost-effective software that not only enhances design quality but also boosts designers' productivity. 

In recent times, there has been a remarkable increase in demand for automotive products that are of the highest quality. Consumers try to shift their attention from brands to the quality of products. With the number of connected cars expected to rise significantly during the next few years, engineers are now adopting advanced synchronous development tools and solutions that 3D CAD software provides to match both product design and the process of immaculate production. 

In recent years, the North American region dominated the market with the largest revenue share, of approximately 32.6%, and is further projected to maintain its dominance during the projection period. This can be credited to the existence of a large count of software providers, high research and development expenditure, and the rising usage of this software in the healthcare, manufacturing, automotive, media, and entertainment sectors. 

SOURCE: P&S Intelligence