LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global mechanical computer-aided design (MCAD) market provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The growing need for providing quality products at a faster rate has led to an increase in the demand for MCAD software. MCAD software helps improve the time-to-market by reducing the product development cycle and testing time. The software also improves the speed of the product design cycle and produces reliable and cost-effective products by reducing the analysis time. It eliminates the need to develop multiple prototypes. Thus, organizations worldwide are increasingly adopting MCAD software to design products.
Ishmeet Kaur, a lead analyst from Technavio, specializing in research on product lifecycle management sector, says, “The global MCAD market is expected to grow at a CAGR of more than 7% during the forecast period. It is highly driven by manufacturing industries in the US. The major advantage of using MCAD software is that it helps reduce the product development time.”
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The top three emerging trends driving the global MCAD market according to Technavio ICT research analysts are:
- Integration of ECAD and MCAD
- High demand for cloud-based MCAD software
- Developments in CAD modeling
Integration of ECAD and MCAD
The need for better integration of electronic CAD (ECAD) and MCAD arises from the growing complexity of product development due to increasing demand for customized products from the end-users. In addition, an increase in the demand for electronics in sectors such as automobile, which were dominated by mechanical parts, is also promoting the need for the ECAD and MCAD integration.
“The integration of mechanics and electronics has led to a new discipline known as mechatronics. Robotics in the healthcare industry and electric cars in the automotive industry are some of the major applications of mechatronics. The basic foundation of mechatronics is the collaboration of ECAD and MCAD,” according to Ishmeet.
High demand for cloud-based MCAD software
The demand for cloud-based MCAD software solutions is increasing in the market due to advantages such as vast space for data storage, ease of access, flexibility, and security. SMEs prefer cloud-based MCAD software due to its cost-effective nature. The end-users are not required to pay the license cost as the software can be accessed through the cloud. By hosting MCAD software on the cloud, the end-users can significantly reduce their operating costs (server costs, maintenance costs, and physical storage costs) and improve the efficiency of the product development cycle.
Developments in CAD modeling
Modeling is a set of rules that helps during computer modeling of 3D solids. The two types of modeling used in CAD are parametric modeling and direct modeling. Parametric modeling uses parameters (such as dimensions, the density of the material, and data related to the material surface) to define a particular model. The dimension-control capabilities and feature-defining properties make parametric modeling the number one choice for a number of designers.
Most of the time CAD software uses the best of both types of modeling. According to designers, direct modeling is helpful during the design or the initial stage of conceptualizing, while parametric modeling is useful in detailed designing. Direct modeling will become popular in designing software in the future. Vendors are developing new solutions that use direct modeling without losing the benefits of parametric modeling.
The key vendors are as follows:
- Dassault Systèmes
- Siemens PLM Software
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