LeapZipBlog: Market-NewsFlash's blog: Electrical Computer Aided Design Market 2024- All Secrets & Future Forecast In One Place - Check It Now ($ 2860.3 Million Market)

Electrical Computer Aided Design Market 2024- All Secrets & Future Forecast In One Place - Check It Now ($ 2860.3 Million Market)

November 20, 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

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.

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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.

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