The 3D computer-aided design (CAD) market has been forecast to hit a market value of US$7.1 billion by 2018, with the sector being primarily driven by falling prices of entry level 3D CAD packages, the rapid adoption of the technology among small and medium businesses (SMBs), and the growing need among manufacturing companies to leverage faster time to market competencies.
CAD is the use of computer systems to assist in the creation, modification, analysis, or optimisation of a design. CAD software is used to increase the productivity of the designer, improve the quality of design, improve communications through documentation, and to create a database for manufacturing.
Going beyond traditional CAD, 3D CAD is revolutionizing design agility in ways hitherto unimagined. Product designs whether for automotive, shipbuilding, aerospace, industrial, architectural design or for medical prosthetics, is a thought provoking process, which can be taken to higher levels through the sophisticated functionality of 3D CAD tools.
The United States currently represents the largest region within the 3D CAD market, with the industry set to increase at a compound annual growth rate (CAGR) of 15.2% through to 2014.
However, Asia-Pacific represents the fastest growing region with annual dollar sales increasing at a CAGR of approximately 19.7% through to 2018. After weathering consecutive years of recession, the 3D CAD market has proven to be dynamic and is now expanding in new directions.
The massive shifting of manufacturing bases into Asia such as in India, China and Singapore, propelled further by fears over natural calamities like earthquakes and tsunamis in Japan, has and will continue to drive demand for CAD systems including 3D CAD.
For more information on the 3D CAD market, see the latest research: 3D CAD Market
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