iCrowd Newswire – Jul 17, 2020
CAM Software Market is forecast to reach $4.22 billion by 2025, after growing at a CAGR of 6.18% during 2020-2025. With rise in the usage of CNC machines in the industries the demand for CAM software is analyzed to increase. The key driving factor is the wide deployment of computer aided manufacturing where CAM software is surely employed to automate the process.
Design Type – Segment Analysis
With increasing technological developments the 3D design type CAM software is analyzed hold the highest market share and grow at highest rate as well. 3D design type CAM software provides the manufacturing firms with the advantages including increase in programming potential, improves the control over job programming and many others, hence it is opted by many manufacturers thereby boosting the CAM software market during the forecast period 2020-2025.
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Application – Segment Analysis
Packaging industry is analyzed to hold highest market share during the forecast period owing to the high adoption rate of CAM software owing to the application various phases of the packaging process. The various phases include filling, wrapping, strapping, and labelling. As the packaging machines are becoming increasingly complex with higher efficiency demand, engineers and designers adopt CAM software to face unique mechatronic engineering challenges thereby boosting the growth of the CAM software market. Adding to these CAM software offers an innovative tool, which is expected to increase the productivity and reduce the overall cost per package thereby contributing to the increased adoption rate and further elevating the market.
Geography – Segment Analysis
North America dominated the CAM Software market, followed by APAC and Europe. The dominance in the North America region is mainly attributed to the strong presence of distributors and resellers to sell CAM software in the region. APAC is analysed to grow at a significant rate during the forecast period owing to the increase in industrialization and developments in IT infrastructure. Moreover the growth of the packaging industry in the APAC region is attributing to the growth of the CAM software market. Adding to these factors the adoption of automation through these computer aided manufacturing in many countries across North America, APAC, and Europe regions is boosting the growth of the CAM software market.
Drivers – CAM Software Market
Growing demand for Industrialization
The rise in industrialization, which is mainly focused on digital innovations and also the incorporation of the elements such as automation, biotechnology, artificial intelligence (AI), the Internet of Things (IoT), and 3D printing, is expected to increase the demand for CAM software as an important part of this new wave of technologies. Moreover the increasing regulatory standards is analyzed to fuel the demand to adopt 2D or 3D CAM software among product developers thereby driving the CAM software market.
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Challenges – CAM Software Market
Availability of Open-source CAM
The small and medium scale enterprises widely opt for freeware, leading to widespread adoption of free and open source CAM in the enterprises. Therefore the availability of free and open-source CAM software is estimated to hinder the growth of the CAM software market during the forecast period 2020-2025.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the CAM Software market. In 2018, the market of CAM Software has been consolidated by the top players including Autodesk Inc., Mastercam, SolidCAM Ltd., Dassault Systèmes EdgeCAM, ZWCAD Software Co., Ltd., Siemens Product Lifecycle Management Software, GRZ Software, BobCAD-CAM, Inc., Cimatron Group, Camnetics, Inc., and MecSoft Corporation, Inc. among others.
In Nov, 2019, Harris Operating Group of Constellation Software Inc. have announced that they have completed the acquisition of BobCAD CAM Inc.
North America is dominating the CAM Software market during the forecast period owing to the high presence of the manufacturers and distributors.
Adoption of CAM software in packaging machinery that helps to complete various phases of the packaging process is analyzed to propel the growth of the CAM Software market.
The significant rise in industrialization and the deployment of automation in the industries in driving the market for CAM software.
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