Rise in Demand for Robotics and Increased focus in Enhancing Manufacturing Process Efficiency is Anticipated to Boost CAM Software Market during the Forecast Period 2021-2026. CAM Software Market Size is forecast to reach $3.3 billion by 2026, at a CAGR of 6.5% during 2021-2026.
CAM Software Market Size is forecast to reach $3.3 billion by 2026, at a CAGR of 6.5% during 2021-2026. Computer Aided Manufacturing is a software that helps manufacturing companies to optimize the process of transforming raw materials and components into finished products. Growing demand for industrialization is set to increase the demand for CAM Software. Increase in adoption of CAM software by industries such as packaging, automotive, construction and more is anticipated to increase the market growth. Industries are adopting the use of CAM software to automate the manufacturing process that enables Greater speed, accuracy and consistency and thus offer a great potential for market growth. Moreover rapid Increasing demand for cloud based solution is contributing to the growth of the CAM software market.
Growing expansion of transportation and logistic industry have surged the demand for packaged goods due to which CAM software is highly used in packaging machinery for reducing the complexities along with increasing technological innovations, surge in healthcare sector and others have driven the demand for CAM software. The rising demand for the automation along with the improvement in the industrial sector have enhanced the productivity demand in globally. The industrial sector across the globe is growing significantly, but on the other hand, it is also becoming a concern for the world. In automotive manufacturing, the increasing investments for conventional as well as the electric vehicles is analyzed to boost the market for CAM software.
The replacement of aging aircrafts with the new ones along with the demand for commercial aircrafts are the reasons due to which the major airlines are expanding globally. The newer aircrafts are equipped with latest techniques as the aircraft manufacturers are investing heavily in new computer systems. Computer aided design (CAD) and computer aided manufacturing (CAM) makes airplane design easier. As a part of the Zuidasdok project, the Amsterdam Zuid Station is being expanded and modernized which involves the widening and rerouting of the A10 South motorway’s underground section, and reconstruction of public transport infrastructure. This project begun in 2019 and is estimated to be completed in 2028. CAM software reduces machine setup time with automated workpiece location and reduces the carriage workpieces manufacturing time. Italy is considered as one of the largest automotive market in Europe after U.K, Germany and France. The country had witnessed about 2.1 million units of vehicle sales and registrations as per OICA during 2019, a comparatively substantial rise from 2018. These vehicles include cars and other transportation which are designed through the CAM software during the manufacturing process are driving the growth of the market in Italy.
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CAM Software Market Growth Drivers:
Growth of Robotics Sector
Growth of robotics in industrial, medical and other sectors are anticipated for the growth of CAM software as it allows task experts to program their robot quickly. As of July 2019, Fetch robotics an intralogistics automation company provides mobile robotics with the on-demand automation solutions for material handling and inventory management has raised $94M funding. A number of robotics companies have witnessed significant funding due to growing market, thereby driving demand for CAM software. With the growing demand for automobile industry the need for the use of the robotics in the process of inspection and many other applications are also increasing. According to RIA (Robotics Industrial Associations) 164,000 robots where installed in automobile industry and the number is going to increase in the coming future. In addition, India is ranked third in the world in implementing robotic automation in its core business processes according to the statistics prompted by the International Federation of Robotics. The application of industrial robotics has increased by 60% in automobile industry by the year 2020. In the automobile manufacturing sector the main focus of the companies is on maximizing productivity replacing human labour with machines due to which they employ high performance machinery to carry heavy automotive parts and large metal sheets designed by the CAM software. As stated by International Federation of Robotics (IFR), sales of new robots is 373,000 units shipped globally in 2019. Although a dip in market has been observed in 2020, due to COVID-19, it has positively impacted the adoption of automation in various industries, which is set to drive the market in the short term.
The Major Players in this Market Include
Major players in CAM Software include Autodesk, Siemens, Dassault Systemes, CNC Software, BobCAD-CAM, Cimatron, Hexagon, HCL Technologies, GRZ Software, Open Mind Technologies among others.
In November 2020, Cimatron and GibbCAM were acquired by Battery venture L.P from 3D Systems Corporation. The acquisition aimed to join Cimatron and GibbsCAM with Battery-backed SigmaTEK Systems, a CAD/CAM software provider to offer a diverse set of design and machining software solutions.
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