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Electrical Computer Aided Design (ECAD)Market Is Expected To Reach $2860.3 Million Till 2024

November 5, 2019 by Market-NewsFlash  

Global Electrical Computer-Aided Design (ECAD) Market Research Report: by Component (Software and Services), by Industry Type (Discrete Industries and Process Industries), by Application (Industrial Machine Controls, Plant Design, Mining Equipment Control, Rail Signaling, Switchgear Design, Water Treatment and Distribution System Control, and Others), by Vertical (Automotive, Aerospace & Defense, Construction, Railway, Power Generation and Energy, Equipment and Machinery, Oil & Gas, Food & Beverage, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World) — Forecast till 2024

Global Electrical Computer-Aided Design (ECAD) Market Overview

The global electrical computer-aided design (ECAD) market is expected to reach USD 2860.3 million by 2024 at a CAGR of 9.22% during the forecast period. Market Research Future (MRFR) in its report envelops segmentations and drivers to provide a better glimpse of the market in the coming years.

Cloud computing is a driving force for the designing field, as it enables designers to access tools and collaborate with their teams over a single platform to make informed decisions during the designing stage. According to a Worldwide CAD Trends 2016 survey conducted by Business Advantage, the use of cloud-based CAD is likely to go up to 29% over the next three to five years. However, the piracy of ECAD software is a major factor limiting the growth of the global electrical computer-aided design (ECAD) market. Increasing use of cloud-based ECAD tools and increasing demand for automation in process industries such as oil & gas and manufacturing are contributing to the growth of the global electrical computer-aided design (ECAD) market.

Competitive Analysis

The key players of the global electrical computer-aided design (ECAD) market are Dassault Systèmes SE (France), EPLAN Software & Service (Germany), Siemens AG (Germany), Autodesk, Inc. (US), Trimble, Inc. (US), Bentley Systems, Inc. (US), Nemetschek SE (Germany), IGE+XAO (France), and ALPI International Software (France), among others.

In January 2019, Trimble launched the latest version of its architectural modeling software — SketchUp Pro 2019. The product has layers with dashed lines which allow simplifying drawings with effective communication.

In February 2017, IGE+XAO Group opened a new subsidiary in India — IGE+XAO INDIA Private Limited — to enhance its distribution capabilities. This subsidiary distributes IGE+XAO Electrical CAD, PLM, and simulation software for the rapidly expanding Indian market.

Segmental Analysis

The global electrical computer-aided design (ECAD) market has been segmented based on component, industry type, application, vertical, and region.

Based on component, the market has been classified as software and services (support, training, and maintenance). The software segment accounted for the largest market share in 2018; the services segment is expected to register the highest CAGR during the forecast period. Electrical computer-aided design (ECAD) is a real-time standalone, easy-to-use, multi-user electrical design tool that helps in efficiently defining the electrical interconnections for complex electrical systems. Various organizations provide a range of ECAD support services to provide insights into, and detailed information about the entire ECAD software system. Training service providers offer online training, customized classes, classroom, and on-site training, and one-day training classes to end users. The regular maintenance of ECAD software prevents unwanted downtime and proves critical to maintaining a smooth-running facility. Maintenance services help organizations to support the work efficiency of software on a timely basis.

Sample report: https://www.marketresearchfuture.com/sample_request/8235

electrical computer aided design market

Based on industry type, the market has been classified as process industry and discrete industry. The discrete industry segment accounted for the largest market share in 2018, with a market value of USD 1,192.7 million; it is expected to register the highest CAGR during the forecast period. The discrete industry involves the production of whole equipment or parts/components; ECAD is required to create and modify the design of an equipment manufacturing process. Various software providers, such as Autodesk, offer ECAD software solutions and for discrete product manufacturing. The solutions provide 3D model designing, engineering, data management, and process management. The implementation of software in process industry enhances productivity, which saves time and minimizes errors in implementation planning. Different process industries require a different set of ECAD features and capabilities that vary as per the industry requirements. The adoption of ECAD is expected to grow significantly in the process industry during the forecast period.

Based on application, the market has been classified as industrial machine controls, plant design, mining equipment control, rail signaling, switchgear design, water treatment and distribution system control, and others. The industrial machine controls segment accounted for the largest market share in 2018, while the water treatment and distribution system control segment is expected to register the highest CAGR during the forecast period. Machine control helps in increasing productivity, reducing costs, and improving ease-of-use. Industrial machines are custom designed for their specific purpose and are optimized for throughput, precision, and availability. A plant layout largely impacts the total operation of a company which includes the production processes, equipment, storage, and dispatch. Signaling is one of the important components of railway network design, as the control and management of trains depend on signals for safer train movement. ECAD software is used in rail signaling to perform tasks such as modifying existing interlockings or creating new ones, editing of interlockings, making wiring schematics, generating wiring schedules and tables and tables linked to schematics automatically, creating rack layouts linked to schematics, and auto-generation of plans and documentation. The ECAD software covers the entire range of services in designing switchgear, which includes mounting layout in 3D, using the virtual wiring of the components to the individual design and adaptation of copper bars for flexible power distribution systems. In a water treatment plant, there are various electrical tasks performed, such as design and build of integrated power and control solutions. It is essential that the electrical network of a water treatment plant is in line with the required processing quality of the plant so that it can operate using optimal energy and reduced cost.

Based on vertical, the market has been segmented into automotive, plant design, aerospace & defense, construction, railway, power generation equipment and machinery, oil & gas, food & beverage, energy, and others. The automotive segment accounted for the largest market share in 2018, while aerospace & defense is the second-largest segment. The Power generation & energy segment is expected to register the highest CAGR during the forecast period. ECAD software is used for prototyping simplified system designs in automotive vertical that offer benefits such as reduction in complex cabling structure and switchboard control. Designing and manufacturing a new commercial aircraft are extremely complicated, expensive, and risky processes. ECAD software solutions assist the development teams in streamlining the design and assembly of electrical layout of the prototype. ECAD software are mainly used in the construction sector for electrical drawing. Electrical drawings include circuit diagrams and drawings, circuit panels, electrical schematic drawings, electrical blueprints for floors and electrical grid systems that provide detailed information about power, lighting, and communication.

Brows full report here: https://www.marketresearchfuture.com/reports/electrical-computer-aided-design-market-8235

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