Computer Aided Manufacturing (CAM) Market Rapidly Changing Dynamics of the Industry and Future Estimations by 2028
The global computer-aided manufacturing (CAM) software market is projected to witness notable growth during the forecast period (2021–2028).
PORTLAND , PORTLAND, OR, UNITED STATE, September 14, 2022 /EINPresswire.com/ — The growth of the global computer-aided manufacturing market is mainly driven by factors such as the rise in the use of computer-aided manufacturing in packaging machinery, a surge in industrialization, and an increase in investments in R&D activities in the CAM market.
However, the availability of free and open-source Computer-aided manufacturing is expected to impede market growth. Conversely, an increase in the adoption of cloud-based solutions and technological advancements in Computer-aided manufacturing is expected to present major opportunities for market expansion in the future.
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In 2020, the 3D segment dominated the computer-aided manufacturing market share, and is expected to maintain its dominance in the upcoming years owing to the growing demand for integrated suite facilitating programming five-axis machines rises significantly as it provides information about how a machine executes while performing the actual job, which, in turn, is expected to boost demand for 3D computer-aided manufacturing.
Key market players are following the trend of enhancing product portfolios with additional functionalities in 3D Computer-aided manufacturing, which propels the growth of the segment. However, the 3D segment is expected to witness the highest growth.
By application, the global CAM market share was dominated by the machine tool industry segment in 2020, and is expected to maintain its dominance in the upcoming years. This is attributed to the benefits of Computer-aided manufacturing for the 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.
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Post COVID-19, the size of the Computer-aided manufacturing market is estimated to grow from $2,879 million in 2021, and is projected to reach $5,477 million by 2028, at a CAGR of 8.4%. The current estimation of 2028 is projected to be lower than pre-COVID-19 estimates. The COVID-19 outbreak has considerable impact on the growth of the Computer-aided manufacturing market, as adoption of computer-aided manufacturing has decreased in the face of unprecedented circumstances.
KEY FINDINGS OF THE STUDY
• On the basis of components, the solution segment accounted for the highest revenue in 2020, however, the services segment is expected to witness the highest growth rate in the forecasted period.
• By design type, in 2020 the 3D segment dominated the computer-aided manufacturing market size and is expected to exhibit significant growth during the forecast period.
• Depending on the application, the machine tool industry generated the highest revenue in 2020. However, the others segment is expected to witness the highest growth rate in the forecasted period.
• Region-wise, the CAM market was dominated by the North American region. However, Asia-Pacific is expected to witness significant growth in the upcoming years.
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Some of the key computer-aided manufacturing industry players profiled in the report include Autodesk Inc., Mastercam, SolidCAM Ltd., EdgeCAM, ZWCAD Software Co., Ltd., GRZ Software, BobCAD-CAM, Inc., Cimatron Group, Camnetics, Inc., MecSoft Corporation, Dassault Systèmes, and Siemens Product Lifecycle Management Software Inc. This study includes computer-aided manufacturing market trends, computer-aided manufacturing market analysis, and future estimations to determine the imminent investment pockets.
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