According to a research report "Computer-Aided Manufacturing Market by Component (Solution and Services), Organization Size, Deployment Type, Industry Vertical (Automotive, Aerospace & Defense, High-Tech, Industrial Equipment, Energy & Utilities), and Region - Global Forecast to 2023" published by MarketsandMarkets, The CAM market is expected to grow from USD 2.3 billion in 2018 to USD 3.4 billion by 2023, at a CAGR of 7.6% during the forecast period. Growing demand for automation of manufacturing process, production of customized products, and increasing use of CAM solution in the arena of fashion and lifestyle, prosthodontics, and prosthetics and orthotics are some major factors driving the growth of the CAM market.
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By component type, the solutions segment is
expected to hold the largest market size during the forecast period
CAM solution enables
enterprises to efficiently design and manufacture products with the help of CNC
machines. CAM helps organizations to minimize errors in designing and
manufacturing processes. Computer-Aided Manufacturing market solutions can be
easily integrated with the designing tool, thereby providing enhanced ability
to adapt changes and increase the efficiency of manufacturing processes. the
solution enables organizations to manage design changes in an easy and fast
manner. The solution empowers various stakeholders in an organization,
including machinists, designers, and engineers, to carry out their tasks
effectively, thereby, reducing the overall time taken in the manufacturing of a
product. The Computer-Aided Manufacturing has been segmented into components,
which include solutions and services. Services are further categorized into
training and education and support and maintenance.
The cloud deployment type is expected to grow
at a higher CAGR during the forecast period
Cloud-based services reduce the
overall costs while providing highly flexible and scalable access to solutions.
Security of manufacturing operations is higher in on-premises deployment type.
However, cloud-based CAM solution enables organizations to reduce the overall
costs associated with solution, IT infrastructure, storage, and technical
staff. The cloud-based solution is a good option for organizations with limited
budgets, as cloud offers enhanced speed and scalability.
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Europe
is estimated to have the largest market size during the forecast period
Europe is estimated to account for the highest share of the
market in 2018 and the trend is expected to continue till the forecasted year
i.e. 2023. The region comprises developed countries, such as the UK, Germany
and France, and is considered the most advanced region in terms of adopting
automation technologies. The region is
hub for the automotive industries as they are creating adequate need of CAM
solution and services. Europe region exhibits a wide presence of key industry
players offering CAM solutions and its financial position enables it to invest
majorly in the leading tools and technologies for effective business
operations.
Major vendors offering CAM solutions and services across
the globe Autodesk (US), Dassault Systèmes (France), Hexagon (Sweden), Siemens
(Germany), 3D Systems (US), PTC (US), HCL (India), CNC Software (US), OPEN MIND
Technologies (Germany), DP Technology Corp. (US), MecSoft (US), SolidCAM (US), NTT DATA ENGINEERING
SYSTEMS Corporation (Japan), BobCAD-CAM (US), ZWSOFT (China), and SmartCAMcnc
(US).
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