LONDON--(BUSINESS WIRE)--The global CAD market for value added resellers (VARs) is set to cross over USD 7 billion by 2019, growing at a CAGR of close to 9%, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global CAD market for VARs market for 2015-2019. Based on product platforms, the market is further divided into two segments: 3D CAD and 2D CAD.
Technavio’s research study segments the global CAD market for VARs into the following regions:
Americas: Largest CAD market for VARs
According to the latest market research report by Technavio, the adoption rate of CAD in the Americas was more than 85% of the overall market share in 2014, making them the largest CAD market for VARs globally. However, the market in the Americas is at a mature stage of its lifecycle, as most companies across industries have sufficiently utilized the advantages of CAD in the Americas. This has led CAD vendors to focus their business on providing newer and more innovative products to their customers in this region. “PTC, a leading PLM vendor in the US, has realized that the CAD market is maturing and reaching a saturation point and therefore, they have started focusing on other business domains such as IoT and service lifecycle management, which are trending technologies at the moment,” says Amrita Choudhury, a lead analyst from Technavio’s product lifecycle management research team.
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Technavio's report identifies the following companies as the top vendors of the global CAD market for VARs:
- EDS Technologies
- Tata Technologies
EDS Technologies was founded in 1995 and is headquartered in India, INNEO was founded in 1984 and is headquartered in Germany, and Tata Technologies was founded in 1989 and is headquartered in Singapore.
EMEA: Second largest CAD market for VARs
As per Technavio’s analysis, Europe was the largest contributor to the 3D CAD market for VARs in EMEA in 2014. The growth of the market is supported by the increase in R&D and capital investment by companies across industries in Europe. For instance, in Germany, the automotive industry invested about USD 23 billion in R&D in 2014, followed by industries such as electrical and electronics, industrial machinery, and aerospace and defense with USD 15 billion, USD 13 billion, and USD 7 billion, respectively. These investments are made by industries to buy new technology, solutions, services, hardware, and software (includes CAD) to develop new products.
“In 2014, Dassault Systèmes, a French company, generated 42% of its CAD revenue from VARs, which indicated that a large number of companies in the region are buying CAD from VARs,” says Technavio’s lead research analyst, Amrita Choudhury.
The market in Europe is marked by the presence of a large number of VARs for Siemens PLM Software, Dassault Systèmes, PTC, and Autodesk that are providing CAD to end-users in the region and ensuring complete customer satisfaction. As a result, the VARs are awarded by original CAD providers by making them platinum, gold, or silver partners.
Key factor influencing the growth of the global CAD market for VARs: Offering of cloud-based CAD by VARs
The research study states that companies prefer to use cloud-based CAD software as it is cost effective and provides vast space for data storage, ease of access, flexibility, and security. The deployment of CAD in the cloud leads to lower costs, faster distribution, lower maintenance, and an increase in scalability. This has fueled the demand for cloud-based CAD software, thus encouraging VARs to develop many cloud-based CAD products.
Onshape is the first cloud-based 3D CAD solution that enables all the design engineers to design and share information simultaneously, through a web browser, tablet, or a phone. It provides cloud-based document management and a multi-part studio. It has high-level mating relationships, makes collaboration easy, and has in-built data management.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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