Computer Aided Manufacturing (CAM) Market Analysis: Trends, Growth, and Future Projections 2028

WILMINGTON, DE, UNITED STATES, June 25, 2024 /EINPresswire.com/ -- As per the report published by Allied Market Research, the global computer-aided manufacturing market was accounted for $2.68 billion in 2020, and is estimated to reach $5.47 billion by 2028, growing at a CAGR of 8.4% from 2021 to 2028.

Increase in use of CAM software in packaging machinery, surge in investment in R&D activities, and rise in industrializations have boosted the growth of the global computer aided manufacturing market. However, availability of free and open-source CAM software hinders the market growth. On the contrary, surge in adoption of cloud-based solutions and advancements in technologies would open lucrative opportunities in the future.

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Covid-19 scenario:

During the Covid-19 pandemic, the adoption of CAM software was decreased as vendors serving the aerospace and automotive industries reduced their spending amid the pandemic.

However, market players in the CAM industry launched updated software versions to meet the increased demand for automation. For instance, DP Technology unveiled ESPRIT 2020, an updated version of its CAM software in April 2020.

The global computer aided manufacturing market is segmented on the basis of component, deployment type, design type, application, and region.

The global computer aided manufacturing market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America dominated in 2020 in terms of revenue, accounting for nearly two-fifths of the market. However, the market across Asia-Pacific is expected to register the highest CAGR of 12.0% during the forecast period.

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Asia-Pacific is expected to observe highest growth rate during the forecast period, owing to proliferation of advanced technologies such as additive manufacturing, advanced robotics, industrial internet of things (IIOT), and augmented reality. In addition, surge in demand for computer aided manufacturing and service offerings by manufacturers propels Computer Aided manufacturing market growth in India. Moreover, India is one of the fastest growing domestic aviation markets in the world and many airlines have embarked on fleet expansion to cater to unprecedented surge in passenger traffic. Thus, the aerospace industry of India offers lucrative opportunities for growth of the Computer aided manufacturing market. Moreover, Computer aided manufacturing have gained traction in the Australia 3D printing technology industry for use in creating replicas of proposed products that have not been commercialized.

The global computer aided manufacturing market includes an in-depth analysis of the prime market players such as Autodesk Inc., Mastercam, SolidCAM Ltd., EdgeCAM, ZWCAD Software Co., Ltd., GRZ Software, BobCAD-CAM, Inc., Cimatron Group, Camnetics, Inc., MecSoft Corporation, Dassault Systèmes, and Siemens Product Lifecycle Management Software Inc.

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