3D CAD Software Market Worth $13.04 Billion By 2025

The global 3d cad software market size is projected to reach USD 13.04 billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 6.2% during the forecast period. Introduction of 3D CAD software has revolutionized the way end-use industries design products.

CAD has witnessed a high adoption owing to improved and continuously changing environment in various industries such as healthcare, construction, manufacturing, and automotive. The software enables end users to create three-dimensional models for representing a particular part or system of the entire product. It also helps in eliminating risk of producing faulty parts, thereby making manufacturing process more cost-effective.

Industries are transitioning from 2D CAD to 3D CAD as software simplifies complex design structure by offering choices between predefined and customized designs. Furthermore, growing transition from on premise to cloud along with changes in consumer preferences and requirements is poised to work in favor of the market.

Burgeoning trend of integrating artificial intelligence (AI) with 3D CAD software has been improving 3D modeling experience by identifying design errors. Presently, only a limited number of players are observed incorporating AI trend into their product portfolio, which has provided ample opportunities for companies to introduce AI-based solutions.

Rising preference among end users for customized solutions is also likely to escalate the growth of the market. Customized and personalized solutions have enabled key players to incorporate this feature into their product portfolio. Key players have already capitalized on designing industry-specific solutions to cater to needs of clients.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/3d-cad-software-market

Further key findings from the report suggest:

The cloud-based segment is expected to witness the fastest growth over the forecast period as the software provides flexibility in design and requires less infrastructure cost
The healthcare segment is estimated to post a CAGR of over 8.0% during the forecast period. 3D CAD software has witnessed increased adoption in the healthcare sector as it helps assist doctors in attempting different methods and strategies to determine the most optimal approach for treatments
Asia Pacific is anticipated to progress at the highest CAGR over the forecast period owing to its high demand in the construction and manufacturing sectors
Autodesk, Inc., Dassault Systemes, PTC, Inc., and Siemens PLM Software, Inc. are some of the prominent players in the 3D CAD software market
Companies are focusing on providing updated products that have additional capabilities of augmented reality (AR), Internet of Things (IoT), and other innovative technologies.

Application Transformation Market Size Worth $17.9 Billion By 2027

The global application transformation market size is expected to reach USD 17.95 billion by 2027, expanding at a CAGR of 10.4%, according to a new study conducted by Grand View Research, Inc. Growing digitalization initiatives among industries, rising penetration of cloud computing technology, and increasing demand for scalability are aiding the market growth. Moreover, the constant need to keep the applications updated with upcoming technologies and improve the Return on Investment (ROI) will also increase the utility of these services in coming years.

Application transformation helps enterprises to reduce the number of applications within an enterprise and move applications to the cloud so as to meet government regulations and update compliance. Moreover, application transformation solutions aid IT departments to address the social media usage in enterprises and growing use of mobile computing. Presently, the IT companies and vendors are collaborating and partnering to offer digital transformation solutions to the industries worldwide. For instance, in April 2020, Tech Mahindra Ltd., an IT services provider company, collaborated with IBM to form technology innovation centers to help digital transformation for its customers. The innovation centers will help address complex business problems across industries, including financial services, insurance, telecommunication, manufacturing, retail and healthcare. Moreover, Tech Mahindra Ltd. will assists its clients migrate its main business applications to the IBM public cloud utilizing IBM Cloud Paks.

Prominent vendors in the market such as IBM Corporation, Microsoft Corporation, and Accenture Plc., are instrumental in helping clients to plan their transformation journey with in-house services capabilities, application portability, and flexible pricing options. Moreover, the evolving technologies will aid in automating the operational and managerial processes, seamless integration capabilities, and improve overall customer experience. However, high implementation and management costs are some of the challenges that might impede the growth of the market over the forecast period. Besides, recent outbreak of COVID-19 disease across the world is likely to slow down the growth of the market temporarily.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/application-transformation-market

Further key findings from the report suggest:

UI Modernization segment is predicted to expand at the highest CAGR over the forecast period owing to increasing need to improve customer experience, scalability and reliability, better security, and fast data accessibility
Growing implementation of application transformation solutions among SMEs in developing regions such as South Asia and Latin America is likely to boost the market growth over the forecast period
The healthcare end-use segment is expected to expand at the highest CAGR over the forecast period owing to accelerating adoption of digital technologies in the sector. Moreover, AI-enabled medical device, blockchain electronic health records, and telemedicine are some of the technological innovations/trends which will make application modernization a necessity in healthcare sector
Asia Pacific is expected to emerge as the fastest-growing region owing to the increasing focus of SMEs and large enterprise to enhance their digital initiatives. The presence of major cloud enterprises such as IBM with their establishment of cloud computing hubs in India, China, Vietnam, and South Korea, is likely to boost the growth

Automotive Cyber Security Market Size Worth $5.56 Billion By 2025

The global automotive cyber security market size is expected to reach USD 5.56 billion by 2025 expanding at a CAGR of 21.4% during the forecast period, according to a study conducted by Grand View Research, Inc. Increasing risks of data breaching due to rise in number of connected and automated vehicles will drive the market. Moreover, growing emphasis of OEMs on strengthening cyber security policies is expected to propel the demand for automotive cyber security over the projected period. Cloud infrastructure, mobile cross platforms, and automotive data taxonomy, are the key connectivity trends in the automotive cyber security market.

Technological advancements pertaining to network connectivity in autonomous vehicles are gaining traction owing to increasing data and volume of data exchange, which is also likely to contribute to the market growth. Moreover, onboard electronic information-control systems like tire-pressure, electric power steering, fixed-speed cruise control, and auto-braking sensors have become mandatory across all the vehicle categories. Other sophisticated systems are also making their way into automotive electronics applications, such as infotainment, ADAS, navigation, powertrain, and safety systems. This, in turn, would further increase the vehicle-to-everything communication, thereby creating lucrative growth opportunities for the market in automotive sector.

North America is the largest regional market due to increasing demand for autonomous vehicles and quick adoption of new technologies like smart antenna and connected car systems. Moreover, rising investments and stringent measures taken by the government towards incorporating cyber security policies for the automotive market have bolstered the regional market growth. Some of the prominent industry participants include Vector Informatik GmbH, Arilou Technologies, NXP Semiconductors N.V., Argus Cyber Security Ltd, ESCRYPT, Continental AG, and HARMAN International.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/automotive-cyber-security-market

Further key findings from the report suggest:

The passenger car segment in Europe is expected to account for 77.1% by 2025 due to rising production of Electric Vehicles (EVs), development and implementation of cyber security strategies, eco-friendly initiatives, and growing scope of data exchange
Infotainment application led the market in China due to quick adoption of advanced vehicle technologies
Wireless network security segment is expected to account for the largest share of the global automotive cyber security market by 2025
Emphasis of OEMs on capabilities offered by connected car systems that have enabled a broad range of service and features contributes to growth of the market in developed economies

3D Printing Market Worth $23.79 Billion By 2025

The global 3D Printing market size is estimated to reach USD 23.79 billion by 2025, according to the new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 16.5% over the forecast period. 3D printing is widely adopted in the industrial sector owing to high demand for enhanced product manufacturing and a shorter time to market. The industrial vertical is anticipated to the highest market share over the forecast period.

3D Printing (3DP) is also referred to as Additive Manufacturing (AM), as it involves successive addition of layers of materials in various 2D shapes using an additive process. These layered 2D shapes build upon one another to form a three-dimensional object. The process is different from the subtractive method of production, which begins with a block of material and the unnecessary material is ground out to obtain the desired object.

3D printing continues to gain popularity among hobbyists and innovators. While individuals are using it for domestic and personal purposes; universities and educational institutes are using 3D printing for conducting technical training. The market is subject to witness a considerable economic growth in the forthcoming years. Machining shops have managed to adopt alternative business models by installing 3D printers and offering related services, such as 3D printing materials, filaments, 3D modeling, and 3D printer software, particularly in Brazil, South, Africa, and India among other developing countries.

Based on application, the 3D printing market has been segmented into prototyping, tooling, and functional parts. Apart from the industrial vertical, automotive, healthcare, and aerospace and defense verticals are among the leading adopters of the technology. Incumbents of these verticals have an emphasis on accuracy, enhanced product designing, reliability, shorter time to market, and economical production processes. Given that additive manufacturing possess can offer all these benefits, the adoption is expected to continue gaining traction over the forecast period.

The 3D printing and related technologies are evolving continuously in line with the intensive R&D activities and the aggressive investments from private and public sectors. Government funding and encouraging initiatives in developed economies are prompting manufacturers to pursue technological improvements and adoption of new technologies.

North America accounted for the largest market share of more than 35% in 2017 as a result of the extensive adoption of the technology in several industries. On the other hand, Asia Pacific has emerged as a manufacturing hub owing to an expanding consumer base and the continued Foreign Direct Investments (FDI). Hence, Asia Pacific is expected to witness a remarkable growth over the forecast period.

The 3D printing technology is a capital-intensive technology. At the same time, there is a lack of knowledge regarding the advantages associated with 3D printing. Moreover, the market lacks the standard process controls and a skilled workforce required for 3D printing. These factors are expected to hinder market growth in near future. However, government initiatives aimed at increasing awareness are expected to help counter the restraints.

To request a sample copy:
https://www.grandviewresearch.com/industry-analysis/3d-printing-industry-analysis

Further key findings from the study suggest:

Demand for desktop 3D printers is expected to increase over the forecast period owing to rising popularity among hobbyists for domestic, household, and personal usage as well as for training purposes In education sector
Prototyping segment dominated the 3D printing market in 2017 and is expected to expand its market share to more than 60% by 2025
The desktop 3D printing segment is expected to witness significant rise in adoption of the technology over the forecast period
Asia Pacific is forecasted to grow significantly owing to continued urbanization and demand from automotive, consumer electronics, aerospace and defense, and healthcare verticals, particularly in China, Japan, and South Korea among other countries
The prominent market players include Stratasys Ltd.; 3D Systems, Inc.; 3D Ceram; GE Additive; HP Inc.; Tiertime; EnvisionTEC, Inc..; and Dassault Systemes.