CAM Software Market SWOT Analysis, Business Growth Opportunities by 2030 – Indian Defence News

2022-06-18 22:38:30 By : Mr. Kevin Xiong

The global CAM software market size is expected to grow from USD 2.5 billion in 2020 to USD 3.7 billion by 2027, at a CAGR of 7.0% from 2021 to 2027. CAM (Computer-aided manufacturing) is a software tool that assists architects, engineers, and other professionals in manufacturing and designing objects. CAM software refers to the use of computers to assist all operations of a manufacturing plant. These include planning, transportation, storage, and management. The primary purpose of the CAM software is to create faster production processes & components and provide more precise dimensions and material consistency. CAM applications are used to design the product and program manufacturing process, precisely CNC machining.

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Factors such as increase in the use of CAM software in packaging machinery, the surge in industrialization, and an increase in investment of R&D activities in the CAM market drive the market’s growth. However, the availability of free and open-source CAM software is expected to impede market growth. On the other hand, an increase in the adoption of cloud-based solutions and technological advancements in CAM software is anticipated to present significant opportunities for market expansion in the future.

The increase in industrialization, which is mainly focused on digital innovations and incorporates elements such as automation, artificial intelligence (AI), the Internet of Things (IoT), 3D printing, and biotechnology which is projected to raise the demand for CAM software as it is one of the essential parts of this new wave of technologies. Moreover, it has led to the emergence of quality checks and inspection agencies to examine the entire product development and production process. This has led manufacturers to meet the requirements of regulatory bodies. The need to meet these rules and regulations is fueling the demand to adopt 2D or 3D CAM software among product developers to create quality products. Furthermore, the rise in the need for product visualization and rapid prototyping in different industries is expected to provide lucrative opportunities for market growth.

The primary factor propelling the growth of the CAM software market is the surge in the adoption of CAM software in packaging machinery. Packaging machinery helps to complete the various phases of the packaging process, such as wrapping, filling, labeling, and strapping. As the packaging machines are becoming more and more complex with higher efficiency demand, designers and engineers are adopting CAM software to face unique mechatronic engineering challenges. CAM software offers an innovative tool that is anticipated to increase productivity and reduce the overall cost per package. Moreover, the emergence of smart packaging is expected to fuel the growth of the CAM software market in packaging machinery as designers are streamlining the communication between electrical engineering controls and mechanical systems through CAM-integrated product development solutions.

The availability of free and open-source CAM software is anticipated to hinder the growth of the CAM software market in the coming years. In small & medium enterprises are looking for freeware, leading to widespread acceptance of free and open-source CAM, which is expected to hamper the CAM software market growth in the future.

A significant shift from patented software to cloud-based subscriptions is projected to provide lucrative opportunities for the market. The implementation of cloud-based solutions is expected to grow faster as it enables end-users to reduce their whole ownership cost and implementation. Growth of cloud-based solutions is estimated to come from new users drawn to the low-risk start-up value-proposition offered by a cloud-based application and by cloud-based offerings replacing existing desktop software whose users are expected to be attracted to the operational flexibility enabled by cloud-based subscription models. Furthermore, to enhance their product, vendors of the CAM software are offering additional features and launching new products, which are expected to boost the adoption of CAM software among the end-users.

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The study categorizes the CAM software market based on application, design type, and region.

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The CAM software providers offer mainly two kinds of software by design type, namely, 2D and 3D. The 3D segment had the highest contributor in 2020. The 3D CAM software allows the designer to create three-dimensional representations of their ideas. This software is much more complex than the 2D CAM software and requires specialist training for using it competently. It provides improved metal shading, lighting modeling, reflection modeling, and edge drawing for achieving more realistic rendering. The 3D toolpaths are applied to the model directly, where they cut, and the depth of cutting is directly based on the surface or solid. The 3D CAM software easily produces efficient multi-axis toolpaths with collision control for complex 3D designs.

Asia Pacific accounts for the highest CAGR during the forecast period

Based on the regions, the global CAM software market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest CAGR in the global CAM software market during the forecast period. The region includes the countries such as China, India, Japan, South Korea, Australia, Southeast Asia, and the Rest of Asia-Pacific. The region’s growth is primarily due to strong economic growth in the domestic emerging countries such as China, Indonesia, Malaysia, and India.

Additive manufacturing, industrial internet of things (IIOT), advanced robotics, and augmented reality are major factors contributing to the growth of the Asia-Pacific CAM software market. In addition, manufacturers’ upsurge in demand for CAM software and service offerings propels the growth of the market in India.

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The CAM software market is mildly concentrated in nature with few numbers global players operating in the market, such as namely Autodesk Inc., SolidCAM Ltd., EdgeCAM, Mastercam, ZWCAD Software Co., Ltd., BobCAD-CAM, Inc., Cimatron Group, GRZ Software, Camnetics, Inc., MecSoft Corporation, Dassault Systèmes, and Siemens Product Lifecycle Management Software Inc. Every company follows its business strategy to attain the maximum market share.

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