Published on : Aug 09, 2017
Albany, New York, August 09, 2017: The report examines the global market for computer-aided design (CAD) technology with regard to the role played by VARs in the growth of the CAD market. VARs are companies that resell CAD software after some processing and have attained crucial importance for the global CAD market due to the widespread adoption of CAD technology in various sectors. The report is titled ‘Global CAD Market for VARs 2017-2021.’
According to the report, the global CAD market for VAR is likely to exhibit a CAGR of 8.13% between 2017 and 2021. CAD software is used in a wide array of industries, including leading players such as the automotive, aerospace, and defense sectors. The benefits of CAD software include the high level of detail it can generate over computerized platforms and the steady rise in their sophistication, which has now led to the development of various process-specific branches. The role of VARs in the global CAD market has consequently grown, as VARs can provide crucial application-specific enhancements to the fundamental CAD software, boosting its utility. VARs are thus likely to retain an important role in the global CAD market in the coming years.
The growth of the automotive industry at a rapid pace in the last few years is a major driver for the global CAD market for VAR. The automotive industry has become a pioneer in making use of advanced technological innovations to enhance industrial processes and is likely to remain a key contributor to the global CAD market for VAR.
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The increasing sophistication demanded by consumers and the increasing need for precision engineering due to the strict economic constraints on automotive design have led to growing use of CAD software. The aerospace and defense industry is also likely to contribute significantly to the global CAD market for VAR in the coming years due to the growing defense expenditure and the rising use of electronic systems to enhance combat as well as navigation systems.
The growing demand for 3D printing in various industries is likely to remain a key driver for the CAD market for VAR. Following steady technological advancement in the 3D printing sector, the technology has now become popular in several industries, especially for the production of smaller parts that present difficulties for production through conventional machining practices. The rising adoption of 3D printing technology could also help the CAD market overcome a key restraint–that of the high prices of implementing CAD technology–and establish a smooth growth pattern.
The report looks into the performance of the CAD market for VAR in the Americas, EMEA, and Asia Pacific. The historical figures of the market in each key regional market are elaborated upon in the report, which also further provides reliable figures regarding the growth trajectory of the market from 2017 to 2021.
The competitive dynamics of the global CAD market for VAR are also examined in the report through profiles of the leading players in the market. Key companies examined in the report include PITERION, CENIT, DXC Technology, Mercury Marine, EDS Technologies, Tata Technologies, Camanotech, and BCT Technology.
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