Global Computer-Aided Manufacturing Market Ascends at a Noteworthy CAGR of 8.51%

Introduction

Computer-aided manufacturing is a helpful software tool that assists engineers, architects, and other professionals in putting forward and fabricating bits and pieces. Computer-aided manufacturing software contaminates the deployment of the computer to help the whole purpose of a manufacturing plant. These take in planning, management, transportation, and storage. The principal intention of computer-aided manufacturing software is to structure manufacturing modus operandi more rapidly together with the methods and endow with additional exact levels and material trustworthiness. To be precise, computer-aided manufacturing applications are experienced in proposing inventions in addition to program fabrication methods and CNC machining. Increasing utilization of computer-aided manufacturing software in packaging machinery, spreading out of industrialization, and advancement in finances of R&D force the computer-aided manufacturing market growth. 

Market Dynamics

Increased Demand for Computer-Aided Manufacturing Software Due to Industrialization and Utilization in Packaging Industry to Drive the Global Computer-Aided Manufacturing Market

The rapid adoption of CAM software in packaging machinery is a significant factor driving market expansion. The packaging process, including filling, wrapping, strapping, and labeling, is carried out with the assistance of packaging machinery. As packaging machines become more complex and higher efficiency standards are demanded, engineers and designers are adopting CAM software to address unique mechatronic engineering issues. The innovative software for computer-aided manufacturing is anticipated to increase overall output and reduce overall costs per unit. In addition, the emergence of smart packaging is expected to fuel the growth of the CAM software market for packaging machinery, as designers streamline communication between mechanical systems and electrical engineering controls using CAM integrated product development solutions.

A rise in industrialization that emphasizes digital advances and incorporates fundamentals such as automation, biotechnology, artificial intelligence, the internet of things, and 3D printing is likely to increase the demand for CAD/CAM software. In addition, it has prompted the formation of quality assurance and inspection organizations to monitor the entire product development and manufacturing process. Consequently, manufacturers now adhere to the requirements of regulatory bodies. In addition, the rising demand for visualization of manufactured goods and accelerated testing of these goods in various industries is anticipated to create lucrative growth opportunities for the computer-aided manufacturing (notably 2D and 3D CAM software) market.

Cloud-Based Solutions are Facing Colossal Demand, Which is Likely to Create Opportunities for the Global Computer-Aided Manufacturing Market

A significant transition from proprietary software to cloud-based subscriptions is anticipated to create lucrative opportunities for market expansion. Since cloud-based solutions enable end users to reduce their overall implementation and ownership expenses, adoption is expected to accelerate. Existing desktop software is anticipated to be replaced by cloud-based offerings, whose users will be attracted to the operational flexibility enabled by cloud-based subscription models and new users will be attracted to the low-risk start-up value proposition of cloud-based applications. In addition, CAM software vendors provide new features and introduce new products to enhance their offerings, which is anticipated to increase end-user adoption.

Regional Analysis

North America holds the largest share, projected to grow at a CAGR of 7.94% by 2030. This region has increased investment in the infrastructure industry, particularly in the design and software domain, and the United States is the primary contributor to this region. Additionally, technological advances in architecture, engineering, and construction contribute to market expansion. North America's automotive and aerospace industries are the primary drivers of manufacturing automation growth. Mexico, for instance, is one of the largest producers of four-wheeled vehicles.

In addition, the increasing trend of leasing and outsourcing non-core manufacturing processes, such as component manufacturing, maintenance, payroll services, and benefits administration, contributes to market growth. The U.S. business community consistently implements strategies and tactics to increase operational effectiveness by concentrating resources on the primary production of their core businesses, which is expected to increase demand for CAM software in this region.

The Asia Pacific region holds the second largest market share of USD 2,322 million, expanding at a CAGR of 12.11%. Implementation of highly advanced technology and increased demand for automation in the manufacturing sector are the primary forces propelling the market growth in this region. These factors enhance the precision and efficacy of the manufactured goods that drive market expansion. Industrial internet of things (IIOT), advanced robotics, additive manufacturing, and augmented reality all contribute to developing the computer-aided manufacturing market in Asia-Pacific.

Manufacturers' growing demand for CAM software and related services is driving the expansion of the Indian market. In addition, many airlines have initiated fleet expansion projects in India, one of the domestic aviation markets with the fastest growth rates in the world, to accommodate the unprecedented increase in passenger traffic. Consequently, India's aerospace industry offers lucrative growth prospects for the computer-aided manufacturing market. In addition, Cam software has gained popularity in Australia's 3D printing industry for the production of prototypes of uncommercialized products. In addition, it is anticipated that the increased adoption of CAM software for the manufacturing of medical devices will create substantial market opportunities.

Key Highlights

• Based on the component, the solution section holds the largest market share and is expected to grow at a CAGR of 8.93% by 2030.
• Based on the deployment model, the on-premise section is expected to generate the highest revenue, growing at a CAGR of 8.16%.
• Based on the organization size, the section of large enterprises dominates the market, growing at a CAGR of 8.73% by 2030.
• Based on the product type, the 3D section will have the most significant shareholding, growing at a CAGR of 10.33%.
• Based on the application, the machine & tool sector is forecasted to grow at a CAGR of 8.36% and hold the largest share.
• Based on the regional analysis, North America holds the largest share, projected to grow at a CAGR of 7.94% by 2030.

Competitive Players

1. MSC Software Corporation
2. Bentley Systems
3. Dassault Systems S.A
4. Synopsys
5. ANSYS Inc
6. Mentor Graphics Corporation
7. AspenTech
8. ESI Group
9. Exa Corporation
10. Numeca International

Recent Developments

• January 2024- Hexagon's R-evolution introduces Green Cubes, a digital revolution for rainforest conservation.
• January 2024- BMW Group will collaborate with Dassault Systèmes to incorporate the 3DEXPERIENCE Platform into its future engineering platform.
• November 2023- Synopsys announces Synopsys.ai Copilot, a breakthrough GenAI capability to accelerate chip design.
• January 2024- The new Ansys Fluent Web UI provides access to massive, multi-GPU CFD simulations.

Segmentation

1. By Type
   1. Software
   2. Services
2. By Deployment Mode
   1. On-premise
   2. Cloud-based
3. By End-Users
   1. Automotive
   2. Defense and Aerospace
   3. Electronics
   4. Medical Devices
   5. Industrial Equipment
   6. Others