LONDON--(BUSINESS WIRE)--The global mechanical computer-aided design (MCAD) market is expected to grow at a CAGR of more than 7% during the period 2018-2022, according to a new market research study by Technavio.
The report presents a comprehensive research of the global mechanical computer-aided design market by end-user that includes industrial machinery industry, automotive industry, aerospace and defense industry, and electrical and electronics industry. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: high adoption of cloud-based PLM solutions in APAC
There has been an increase in the availability of cloud-based PLM services such as MCAD in the APAC region. Industries are concentrating on reducing the cost of PLM adoption that gives rise to the popularity of cloud-based PLM software. Many PLM service providers are implementing the technology in the cloud. There are several benefits of adopting cloud solutions, including the minimal investment that the implementation of cloud solutions requires and the easy accessibility of data from any location.
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Market trend: integration of ECAD and MCAD
The need for better integration of ECAD and MCAD arises from the increasing complexity of product development because of the growing demand for customized products from the end-users. Furthermore, an increase in the demand for electronics in sectors such as automobiles that was dominated by mechanical parts only 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 key applications of mechatronics.
According to a senior analyst at Technavio for product lifecycle management research, “The collaboration of ECAD and MCAD is the foundation of mechatronics. Unnecessary product development rework and huge product development cost cannot be avoided unless a proper integration is brought between ECAD and MCAD.”
Market challenge: excessive cost of training
CAD software solutions have advanced functionalities and compatibility features. As these are complex solutions, proper training in the technology is essential for their optimal utilization in any organization. Professionals also need adequate training to use any upgrades to the existing system optimally. The training and product costs of these solutions are substantially high that often deter several companies from investing in CAD.
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