Partnerships and new product launches have been the most dominating strategies adopted by the major players from 2015 to 2018 in Computer-Aided Manufacturing Market
The global Computer-Aided Manufacturing (CAM) market size is expected to grow from USD 2.3 billion in 2018 to USD 3.4 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period. The growing demand for industrial automation and increased need to enhance manufacturing processes is driving the growth of the CAM market. Furthermore, CAM solutions offer various competitive advantages to enterprises including increasing machining efficiency, reducing material wastage, and reducing manufacturing time. These benefits are driving the adoption of CAM solutions across various industries globally.
The major CAM vendors include Autodesk (US), Dassault Systèmes (France), Hexagon (Sweden), Siemens (Germany), 3D Systems (US), PTC (US), HCL (India), CNC Software (US), OPEN MIND Technologies (Germany), DP Technology Corp. (US), MecSoft (US), SolidCAM (US), NTT DATA ENGINEERING SYSTEMS Corporation (Japan), BobCAD-CAM (US), ZWSOFT (China), and SmartCAMcnc (US). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the global CAM market. Partnerships and new product launches have been the most dominating strategies adopted by the major players from 2015 to 2018, which have helped them innovate their offerings and broaden their customer base.
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Autodesk is one of the leading players in CAM market across the globe. The company offers CAM solutions to enhance and fast track manufacturing processes of enterprises operating in various industries, including in architecture, engineering, and construction, product design, manufacturing, and entertainment. Autodesk has built a strong brand value in the global CAM ecosystem, catering to its clientele across different industries. As a part of its growth strategy, in December 2018, Autodesk acquired PlanGrid to develop complementary construction software. Autodesk’s BIM 360 construction management platform connects people, data, and workflows on construction projects.
Hexagon is another prominent player offering CAM solutions and services. The company is globally recognized for its comprehensive portfolio of CAM solutions and service. The company continually strives to offer innovative CAM solutions and emphasizes on expanding its partner network to strengthen its foothold in the global CAM Market. In December 2018, Hexagon released a new version of VISI software to boost reverse engineering. It also comprises new and improved CAD/CAM functions for the die and mold market.
Related Reports:
Computer-Aided Manufacturing Market by Component (Solution and Services), Organization Size, Deployment Type, Industry Vertical (Automotive, Aerospace & Defense, High-Tech, Industrial Equipment, Energy & Utilities), and Region - Global Forecast to 2023
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