USD 2.93 billion
Report ID: SQSG25E2008 | Region: Global | Published Date: August, 2022 | Pages: 282 | Tables: 90 | Figures: 76
Computer Aided Manufacturing (CAM) Market size was valued at USD 2.93 billion in 2021 and is poised to grow from USD 3.2 billion in 2022 to USD 6.6 billion by 2030, growing at a CAGR of 9.6% in the forecast period (2023-2030).
The manufacturing industry has made great progress thanks to automation driven by cutting-edge computing technologies. One of them is computer-aided design (CAD), and computer-aided manufacturing is what is creating value (CAM). This is a crucial factor influencing the growth of the global market for computer-aided manufacturing.
Manufacturing businesses from a variety of industries have used CAM to train their machines and automate shop floor production and manufacturing processes. The product lifecycle management software is typically connected with the technology available in the worldwide computer-aided manufacturing market, making it a crucial component of the design process. Glassmaking, woodturning, metalworking, and spinning are some of the major industries where computer-aided manufacturing is used. Engineers from all over the world are becoming more interested in the various solutions and services offered by vendors and suppliers in the computer-aided manufacturing sector.
A major worry for technology adopters in the computer-aided manufacturing business is the cost of CAM acquisition. Since CAM is more expensive, shop floors have been sluggish to implement it. In order to do this, a few suppliers have altered their subscription plans in order to decrease the barrier for end-use companies, creating new demand channels in the worldwide market for computer-aided manufacturing.
Strong machine integration is required for additive manufacturing for industrial users to fully utilise computer-aided manufacturing tools. This aids industrial producers in improving the design procedure and the entire product development procedure. The rise in partnerships and collaborations in the market for computer-aided manufacturing might be a major facilitator.
The significant demand for computer-aided manufacturing software and services is caused by businesses' growing efforts to automate their industrial manufacturing processes across a range of industry verticals. The fourth industrial revolution, which has cleared the way for a variety of automation technologies, including computer-aided manufacturing, has advanced and accelerated the speed of automation. The market for computer-aided manufacturing is also growing as a result of the need to optimise product design and production.
The automobile sector contributes significantly to the global market for computer-aided manufacturing in terms of revenue. Automotive industry operators all over the world have been eager to take advantage of the possibilities of smart manufacturing technologies in order to promote innovation in product development. The market for computer-aided manufacturing is rising as internet of things (IoT) driven solutions become more and more popular in the industry vertical.
US Computer Aided Manufacturing (CAM) Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 2.93 billion
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The global computer aided manufacturing (CAM) market is segmented on the basis of component, application, deployment type, and region. Based on components, the market is segmented into Solutions and Services. Based on deployment type, the computer aided manufacturing (CAM) market is segmented into on-premise deployment and cloud deployment. Based on application, the Computer Aided Manufacturing (CAM) Market is segmented aerospace & defense industry, shipbuilding industry, automobile & train industry, machine tool industry, and others. Based on region, the global computer aided manufacturing (CAM) market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Computer Aided Manufacturing (CAM) Market Analysis by Component
According to the components, the solution category has shown tremendous growth in the computer aided manufacturing (CAM) market share in 2021 and is likely to retain its dominance in the coming years. This segment's expansion is mostly related to a growth in the need for computer-aided manufacturing software solutions in packing machines as well as an increase in industrialization processes. However, the services market is predicted to expand the most due to the increased usage of computer aided manufacturing software. Furthermore, the use of professional services by end-users to assure the proper operation of CAM software solutions throughout the process boosts computer-aided manufacturing (CAM) market development.
Computer Aided Manufacturing (CAM) Market Analysis by Application
The global CAM market is segmented into the aerospace & defense industry, shipbuilding industry, automobile & train industry, machine tool industry, and others based on its application. In 2021, the aerospace & defense industry segment led the worldwide computer-aided manufacturing (CAM) market share and is likely to retain its dominance in the following years. This is because of the advancements in computer-aided manufacturing software in the aerospace industry, which include quicker production cycles, specialist machining components, higher quality finishing, enhanced operator efficiency, improved material usage, and longer tool life will aid the computer-aided manufacturing (CAM) market growth during the analysis period.
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North America led the global computer aided manufacturing (CAM) market in the year 2021 and is likely to continue to do so during the forecast period, owing to increased investment in the US infrastructure industry, particularly in software design and engineering. Furthermore, technical improvements in the architecture, aerospace & defense, and civil construction industries support the growth of the computer-aided manufacturing market in North America.
However, due to the development of sophisticated technologies such as improved manufacturing, advanced robotics, industrial internet of things, and augmented reality, Asia-Pacific is predicted to see the highest growth rate throughout the computer-aided manufacturing market projection period.
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Computer Aided Manufacturing (CAM) Market Driver
Increasing use of CAM software in the packaging industry.
Computer Aided Manufacturing (CAM) Market Restraint
Free and open-source computer aided manufacturing software are major restraints.
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The computer aided manufacturing (cam) market is relatively fragmented, with a high level of competition. Few large players, like Autodesk Inc., Microsoft Corporation, and Siemens AG, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Computer Aided Manufacturing (CAM) Market Top Player’s Company Profiles
Computer Aided Manufacturing (CAM) Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the solution category has shown tremendous growth in the computer aided manufacturing (CAM) market share in 2021 and is likely to retain its dominance in the coming years. This segment's expansion is mostly related to a growth in the need for computer-aided manufacturing software solutions in packing machines as well as an increase in industrialization processes. North America led the global computer aided manufacturing (CAM) market in the year 2021 and is likely to continue to do so during the forecast period, owing to increased investment in the US infrastructure industry, particularly in software design and engineering. Furthermore, technical improvements in the architecture, aerospace & defense, and civil construction industries support the growth of the computer-aided manufacturing market in North America.
|Market size value in 2021||USD 2.93 billion|
|Market size value in 2030||USD 3.2 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
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MARKET DYNAMICS & OUTLOOK
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For the Global Computer Aided Manufacturing (CAM) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Computer Aided Manufacturing (CAM) Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQSG25E2008