Computer Aided Manufacturing Market
Increase in use of CAM software in packaging machinery, rise in investment in R&D activities, and surge in industrializations fuel the growth of the market.
PORTLAND, PORTLAND, OR , UNITED STATES, September 7, 2021 /EINPresswire.com/ — Allied Market Research published a report, titled, “Computer Aided Manufacturing Market by Component (Solution and Services), Deployment Type (On-Premise and Cloud), Organization Size (Large Enterprises and SMEs), Design Type (2D and 3D), and Application (Aerospace & Defense Industry, Shipbuilding Industry, Automobile & Train Industry, Machine Tool Industry, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2028.” According to the report, the global Computer-Aided Manufacturing (CAM) industry was estimated at $2.68 billion in 2020 and is anticipated to hit $5.47 billion by 2028, registering a CAGR of 8.4% from 2021 to 2028.
Drivers, restraints, and opportunities-
An increase in the use of CAM software in packaging machinery, rise in investment in R&D activities and surge in industrializations fuel the growth of the global computer-aided manufacturing market. However, the availability of free and open-source CAM software impedes growth. However, an upsurge in the adoption of cloud-based solutions and advancements in technologies would create numerous opportunities in the industry.
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1. The outbreak of COVID-19 led to decrease in adoption of CAM software in the aerospace and automotive industries, thereby impacting the market negatively.
2. However, market players in the CAM industry launched updated software versions to cater to the increased demand for automation. This way, the pandemic has had a mixed impact on the global Computer Aided Manufacturing (CAM) Market.
The solution segment to dominate by 2028-
By component, the solution segment held the major share in 2020, contributing to more than three-fifths of the global computer aided manufacturing market, due to surge in need of CAM software solutions in packaging machinery along with increase in industrialization processes. However, the services segment is expected to register the highest CAGR of 10.7% throughout the forecast period, due to extensive adoption of professional services among end users to ensure effective functioning of CAM software solution throughout the process.
The machine tool industry segment to maintain the dominant share-
Based on application, the machine tool industry segment held the largest share in 2020, contributing to nearly one-third of the global computer aided manufacturing market. This is attributed to benefits of CAM software for machine tool industry such as faster machining cycles, machining of elements by non-machining experts, higher quality finishing, increased operator productivity, improved material utilization, and longer tool life. Simultaneously, the aerospace and defense industry segment would showcase the fastest CAGR of 10.5% from 2021 to 2028.
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North America garnered the highest share by 2020-
The market across North America dominated in 2020 in terms of revenue, accounting for nearly two-fifths of the global computer aided manufacturing market. Technological advancements in architecture, engineering, and construction (AEC) industry drives computer aided manufacturing market growth in the continent. However, the market across Asia-Pacific is expected to register the highest CAGR of 12.0% during the forecast period, owing to proliferation of advanced technologies such as additive manufacturing, advanced robotics, industrial internet of things (IIOT), and augmented reality in the province.
Key players in the industry-
1. Mastercam, SolidCAM Ltd.
2. Siemens Product Lifecycle Management Software Inc.
4. GRZ Software
5. BobCAD-CAM, Inc.
6. Cimatron Group
7. Autodesk Inc.
8. Camnetics, Inc.
9. MecSoft Corporation
10. ZWCAD Software Co., Ltd.
11. Dassault Systèmes
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