|By Business Wire||
|January 6, 2014 02:37 PM EST||
Research and Markets (http://www.researchandmarkets.com/research/s84p58/cad_market_in) has announced the addition of the "CAD Market in North America 2012-2016" report to their offering.
The analysts forecast the CAD market in North America to grow at a CAGR of 9.99 percent over the period 2012-2016. One of the key factors contributing to this market growth is the need for enhanced product visualization. The CAD market in North America has also been witnessing the development of cloud-based CAD solutions. However, the availability of open-source and pirated CAD solutions could pose a challenge to the growth of this market.
The key vendors dominating this market space are Autodesk Inc., Dassualt Systemes SA, PTC, and Siemens PLM Software Inc.
The other vendors mentioned in the report are Alibre Design, Aveva Group Plc., Bentley Systems Inc., ESI Group, Intergraph Corp., Nemetschek AG, and ProgeCAD.
Commenting on the report, an analyst from the team said: Cloud computing technology is becoming increasingly popular among organizations because it offers huge data storage space, provides flexibility, and enables scalability. Hence, several CAD solution vendors have started developing cloud-based CAD solutions. The pay-per-use model also reduces the overall cost of CAD software adoption. Moreover, several users can remotely access cloud-based digital manufacturing software solutions at any time and in any place. Furthermore, cloud-based digital manufacturing software can be scaled-up with features easily. Hence, the CAD market in North America is witnessing an emerging trend where numerous vendors are increasingly developing cloud-based CAD solutions to meet the huge demand from end-users.
According to the report, in today's competitive business environment, on-time delivery of products is an important factor for companies. Enterprises have to delay product launches or delay delivering products on-time when suppliers delay the manufacturing and delivering of semi-finished products. However, the time required for product delivery can be drastically reduced if efficient CAD software is in place and if it is optimally utilized. Thus, the effective deployment of CAD software enables the streamlining of manufacturing operations and processes, which enables a faster response to ever-changing business requirements. This therefore paves the way for the development of better-quality designs that help in the seamless manufacturing of products. This in turn leads to faster and on-time delivery of quality products.
For more information visit http://www.researchandmarkets.com/research/s84p58/cad_market_in
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