(PRWEB UK) 10 May 2013
According to the report 'Global Computer-aided Design Market 2012-2016,' Computer-aided design (CAD) software provides an efficient, easier and cost-effective method for modeling and designing critical parts, components, and structurals with enhanced quality and accuracy.
Software solutions assist engineers, architects, and other design professionals to draft industry-specific products for superior product development, thereby facilitating easy manufacturability. These CAD tools are adopted by several industrial sectors such as, mechanical, civil, plant design, geo-information systems, and other engineering industries. It therefore, enables end-users to develop their ideas and simulate the products of the real world by digitally prototyping their creation.
The Global Computer aided Design market is expected to post a CAGR of 8.60% during the period 2012-2016. The major revenue contribution to the Global CAD market comes from the Europe region, followed by the Asia-Pacific (APAC) region, and North America.
The market is expected to post a revenue of US$8,295.41 million in 2016 according to the report, the 'Global CAD Market 2012-2016'. The need for enhanced product visualisation is expected to be one of the key drivers that will drive the growth for this market. There are, however, certain factors that may affect the growth of the market. The increasing threat from open source and pirated CAD software solutions is a challenge that could affect the growth of the market during the forecast period.