Pune, India, Feb. 06, 2023 (GLOBE NEWSWIRE) -- The global CAD and PLM software market size was valued at USD 14.51 billion in 2022 and is expected to reach a valuation of USD 15.47 billion in 2023. The market is expected to reach USD 26.37 billion by 2030 with a CAGR of 7.9% during the forecast period. Product Lifecycle Management (PLM) software enables organizations to distribute, centralize, secure, and automate product data. Deployment in the manufacturing and automobile industries to enhance supply chain is anticipated to fuel market development. Fortune Business Insights™ shares this information in its report titled “CAD and PLM Software Market Forecast, 2023-2030.”
Key Industry Development
September 2022: PTC launched a new product named ‘Onshape-Arena Connection’, which connects Arena Solutions Product Lifecycle Management (PLM) and Onshape Product Development. This helps in the acceleration of data sharing, which aids organizations in improving product development processes and maintaining partnerships with supply chain partners.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 7.9% |
| 2030 Value Projection | USD 26.37 Billion |
| Base Year | 2022 |
| CAD and PLM Software Market Size in 2022 | USD 14.51 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 150 |
| Segments covered | Deployment, Industry and Geography |
| CAD and PLM Software Market Growth Drivers | Rising Smart Manufacturing and Adoption of IoT Technologies to Propel Market Growth |
Key Takeaways
- Digital Twin and Digital Thread Implementation in CAD and PLM Software to Enhance Market Growth
- Manufacturing and Automotive industries are implementing PLM along with CAD to enhance their business models, which is fueling market growth.
- Industry Analysis: CAD and PLM Capabilities in Discrete Industry to Propel the Market Growth
- CAD and PLM Software Market Size in North America was USD 4.82 Billion in 2021
- Cloud-based solutions are projected to dominate the market share while exhibiting the highest CAGR during the forecast 2023-2030
Drivers and Restraints
- Rising Smart Manufacturing and Adoption of IoT Technologies to Propel Market Growth
- Rising smart manufacturing with the adoption of IoT technologies and 3D printing/modeling is projected to drive the CAD and PLM software market growth.
- The implementation of IoT devices has improved the rate of production significantly by automating manual and hard labor processes in the automotive and manufacturing industries.
- CAD and PLM software offers stability in manufacturing industries which helps in 3D printing modeling, productivity, and innovation.
- Numerous manufacturing and automotive industries are implementing PLM along with CAD to enhance their business models.
- However, disconnected systems and siloed departments impede the market expansion.
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Segments
Cloud-based to be Lead Due to Various Advantages
According to deployment, the market is divided into on-premise and cloud models. Cloud holds the largest part in the segment due to its various comparative advantages of hosting. Vendors have been providing Software-as-a-Service (SaaS) solutions under cloud to host their PLM software and integrate with CAD solutions.
Discrete Industries to Lead the Segment as PLM is Used Widely in Such Industries
According to industry, the market is divided into discrete industries – automotive, electronics, heavy manufacturing, others (aerospace and defense, high tech, and others) and process industries – oil & gas, chemicals, healthcare, and others (pharmaceuticals, petroleum, and others)). Discreet industries segment is set to dominate as PLM software is widely used in discrete and process industries to aid manufacturers in their product development process. The adoption of PLM and CAD software has been increasing in automotive, electronics, high-tech, and others.
Based on geography, the market is divided into North America, South America, Europe, the Middle East & Africa, and Asia Pacific.
Regional Insights
North America to Dictate Market Share with Deployments of Cloud-based Applications and Services
North America is expected to hold majority part in the CAD and PLM software market share due to increasing number of deployments of cloud-based applications and services. The automotive industry holds 3% of the region’s GDP and produces more jobs than other departments, thereby leading 1,251,600 people employed by the automobile industry in 2021.
Europe is projected to show important progression due to rise in 4.0 and IoT industries. Germany possesses a well-developed industrial sector and is a producer of automobiles and machinery. The country is also known for its high-tech manufacturing capabilities and exceptional quality of goods due to substantial investments within educational and research & development sectors.
The Middle East region is anticipated to show steady growth due to the industrial market, particularly for smart building solutions and smart manufacturing. United Arab Emirates is increasing the number of investments in digital manufacturing, intelligent design, and CAD/CAM software.
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Competitive Landscape
Cloud-based Deployments by Key Players to Propel Market Progress
The players of this market have been engaging in implementation and deployment of cloud. Key players have been increasing the number of cloud-based deployments with additional functionalities and integrations. In March 2022, Essig PLM, a provider of PLM software, announced ProductCenter Nexa PLM. It has various features such as scalability and reliability while offering extra functionalities such as document management, BOM management, and user-friendly interface. It has various numerous integrations to add support for Small & Medium Enterprises (SMEs).
List of Key Players Profiled in the Report
- SAP SE (Germany)
- Autodesk Inc. (U.S.)
- Dassault Systemes (France)
- PTC Inc. (U.S.)
- Oracle Corporation (U.S.)
- Siemens AG (Germany)
- Infor Inc. (U.S.)
- Aras Corporation (U.S.)
- Propel Software Solutions Inc. (U.S.)
- DuroLabs (U.S.)
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Major Table of Contents:
- Global CAD and PLM Software Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Deployment (USD)
- By Industry (USD)
- Discrete Industries
- Automotive
- Electronics
- Heavy Manufacturing
- Others
- Process Industries
- Oil and Gas
- Chemicals
- Healthcare
- Others
- Discrete Industries
- By Region (USD)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- North America CAD and PLM Software Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Deployment (USD)
- By Industry (USD)
- Discrete Industries
- Process Industries
- By Country (USD)
- South America CAD and PLM Software Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Deployment (USD)
- By Industry (USD)
- By Country (USD)
- Brazil
- Argentina
- Rest of South America
- Europe CAD and PLM Software Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Deployment (USD)
- By Industry (USD)
- Discrete Industries
- Process Industries
- By Country (USD)
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Benelux
- Nordics
- Rest of Europe
Toc Continued…
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FAQ’s
How big is the CAD and PLM software market?
CAD and PLM software market projected to reach USD 26.37 billion by 2030.
How fast is the CAD and PLM Software Market growing?
The CAD and PLM software market will exhibit a CAGR of 7.9% during the forecast period, 2023-2030
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