CAM Software Market worth USD 3.7 billion by 2027

The Market Statsville Group (MSG) publishes the new report on the "CAM Software Market by Application Outlook (Aerospace and Defense Industry, Shipbuilding Industry, Automobile and Train Industry, Machine Tool Industry, and Others), by Design Type (2D and 3D), by Region – Global Share and Forecast to 2027, by Region – Global Share and Forecast to 2027". The global CAM software market size is anticipated to grow from USD 2.5 billion in 2020 to USD 3.7 billion by 2027, registering a CAGR of 7.0% from 2021 to 2027. The rise in industrialization, which is mainly focused on digital innovations and incorporates elements such as automation, artificial intelligence (AI), the Internet of Things (IoT), 3D printing, and biotechnology which is expected to raise the demand for CAM software as it is one of the essential parts of this new wave of technologies. Furthermore, it has led to quality checks and inspection agencies to inspect the entire product development and production process. This has led manufacturers to meet the necessities of regulatory bodies. The need to meet these rules and regulations is fueling the demand to adopt 2D or 3D CAM software among product developers to create quality products. Furthermore, the rise in the need for product visualization and rapid prototyping in different industries is expected to provide lucrative opportunities for market growth.

Global CAM Software Market Segmentation

The overall CAM software market has been segmented into the application, design type, and region.

• By Application Outlook (Aerospace and Defense Industry, Shipbuilding Industry, Automobile and Train Industry, Machine Tool Industry, and Others)
• By Design Type (2D and 3D)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

The machine tool industry, by solution, is estimated to hold the largest market share during the forecast period

Based on solution, the global CAM software market is divided into the aerospace & defense industry, shipbuilding industry, automobile & train industry, machine tool industry, and others. Machine tool industry segment by application is accounted for the largest market share in 2020. CAM software for the machine tool industry provides multiple benefits such as faster machining cycles, machining of elements by non-machining experts, higher quality finishing, increased operator productivity, improved material utilization, longer tool life, and others. Dental CAM software is also one of the major categories involved in this segment. In addition, CAM software is also used for the industrial equipment industry, especially in packaging machinery. It offers benefits such as reducing manufacturing and operating costs, improved machine performance, reliability, and safety. Moreover, adopting a 3D development ecosystem provides total data compatibility, concurrent workflows, and the ability to entirely leverage 3D design data across all crucial functions to simultaneously increase efficiency, control costs, and improve quality.

Adoption of CAM software is on the increase in the machine tool industry as it can positively impact the performance of the downstream process in the machine tool and machine controllers by knowing these systems and having mechanisms to co-exist with the capabilities of these process steps. Further, the strong performance of metalworking facilities during 2017 led to a significant upsurge in machine tool consumption.

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Asia Pacific accounts for the largest market share in CAM software market 2020

Based on the regions, the global CAM software market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, Asia Pacific accounted for the highest market share of 37.2% in the global CAM software market and was anticipated to maintain its dominance throughout the forecast period. India is one of the fastest-growing domestic aviation markets globally, and many airlines have embarked on fleet expansion to cater to the unprecedented surge in passenger traffic. Thus, the Indian aerospace industry offers lucrative opportunities for the growth of the CAM software market. Moreover, CAM software has gained traction in the Australian 3D printing technology industry to create replicas of proposed products that have not been commercialized. Furthermore, the rise in the adoption of CAM software for manufacturing medical devices is expected to provide significant opportunities to the market.

Furthermore, countries such as South Korea have formed strategic alliances to optimize their manufacturing processes, creating numerous opportunities for the market. For instance, in May 2018, Ulsan Metropolitan City, South Korea’s industrial center, announced a collaboration with Materialise to drive business growth for the local manufacturing businesses by leveraging the transformational power of additive manufacturing.

Major companies in the global CAM Software market are SolidCAM Ltd., Autodesk Inc., EdgeCAM, Mastercam, BobCAD-CAM, Inc., Cimatron Group, ZWCAD Software Co., Ltd., GRZ Software, Camnetics, Inc., MecSoft Corporation, Dassault Systèmes, and Siemens Product Lifecycle Management Software Inc.

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