Global CAM Software Market Surging Towards a US$ 4.31 Billion Valuation by 2031: Astute Analytica

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New Delhi, April 13, 2023 (GLOBE NEWSWIRE) — Global CAM software market is projected to reach US$ 4.31 billion by 2031, up from US$ 2.56 billion in 2022, at a CAGR OF 6.29% during the forecast period.

The market for computer-aided manufacturing (CAM) software has been experiencing significant growth in recent years, driven by the increasing demand for precision and efficiency in manufacturing processes across various industries. CAM software is used to automate manufacturing processes through the use of software and computer-controlled machinery, resulting in improved productivity, accuracy, and speed.

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The market for CAM software is divided into several segments, including 2D, 3D, and 5-axis CAM software. Among these, 3D CAM software is projected to capture the largest revenue share by 2031, due to its greater precision and accuracy in manufacturing processes compared to traditional 2D software.

The market is also seeing a shift towards yearly subscription models, which account for over 72% of the revenue generated in this industry. This trend is driven by the benefits of subscription models for both software vendors and customers, including more predictable revenue streams, access to the latest software updates and features, and greater flexibility.

Industry 4.0 and smart manufacturing drive CAM software market in North America and Europe, the second and third largest markets, respectively. The adoption of advanced manufacturing technologies has enabled automated production processes, cost reduction, and increased efficiency, thereby increasing demand for CAM software.

The COVID-19 pandemic has accelerated the adoption of digital manufacturing technologies, further boosting the demand for CAM software. The market is expected to continue growing in the coming years, driven by the increasing adoption of cloud-based solutions, the demand for complex geometries and intricate designs, and the need to improve efficiency and productivity in manufacturing processes.

Top Trends Shaping the Global CAM Software Market

• Integration of Artificial Intelligence (AI) and Machine Learning (ML): AI and ML are playing a pivotal role in enhancing the capabilities of CAM software, enabling predictive analytics, real-time monitoring, and optimization of manufacturing processes.
• Cloud-based CAM solutions: The adoption of cloud-based CAM software has been on the rise due to its scalability, ease of deployment, and cost-effectiveness, particularly for small and medium-sized businesses (SMBs).
• Additive Manufacturing (3D Printing): The integration of CAM software with 3D printing technology is revolutionizing the manufacturing process, enabling rapid prototyping and reduced time-to-market.
• Internet of Things (IoT) and Industry 4.0: The convergence of IoT and Industry 4.0 has facilitated the adoption of CAM software for improved interconnectivity, automation, and data exchange across manufacturing facilities.

Survey Reveals Consumers Preferring CAM Software with Advanced Analytics, Real-Time Monitoring, and Predictive Maintenance Features

Astute Analytica conducted a survey for consumer behavior analysis to get valuable insights into the preferences and expectations of customers in the global CAM software market. In this context, a comprehensive survey was conducted among CAM software users to understand their needs and requirements. The study revealed several key findings that shed light on the priorities of CAM software users.

• One of the primary concerns of users is the ability to streamline and automate manufacturing processes, which leads to reduced errors and minimized production costs.
• CAM software plays a crucial role in enhancing efficiency and productivity, enabling businesses to stay competitive in the market.
• The survey findings also suggest that users prefer intuitive and easy-to-use interfaces in CAM software, which reduces the learning curve and enables efficient utilization of its features.
• Another important trend is the growing demand for advanced analytics, real-time monitoring, and predictive maintenance features, which allow users to optimize their manufacturing processes further.

Cloud-based CAM solutions are becoming increasingly popular among small and medium-sized businesses due to their flexibility and cost-effectiveness. In fact, it has been found the cloud-based deployment to contribute more than 35% revenue to global CAM software market. However, on-premises deployment is still prevalent among large enterprises with complex manufacturing processes and higher security requirements and the segment is expected to continue leading the global market with more than 64% of revenue share.

Astute Analytica’s analysis is valuable for CAM software providers, helping them understand user preferences and tailor their offerings accordingly. By addressing the needs of the market, businesses can stay ahead of the competition and capitalize on the growing demand for advanced CAM software solutions.

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Large Enterprise to Hold Lion’s Share of Global CAM Software Market with More than US$ 2,927 Million Revenue Share by 2031

Large enterprises are expected to contribute more than 2,927 million to the global CAM software market. This is due to the fact that large enterprises tend to have complex manufacturing processes and higher security requirements, which require advanced CAM software solutions.

Consumer acceptance of CAM software has been increasing over the years, driven by the need for streamlined and automated manufacturing processes, user-friendly interfaces, advanced features such as real-time monitoring and predictive maintenance, and cloud-based solutions that provide flexibility and cost-effectiveness.

Large enterprises are among the biggest users of CAM software, as they often have extensive manufacturing operations and need to optimize their processes to remain competitive. These enterprises tend to spend significant amounts of money on CAM software each year, as they recognize the value it can bring to their operations.

3D CAM software to Captures More Than 81% Revenue Share of Global CAM Software Market

The global market for CAM software is expected to experience substantial growth in the years ahead, with 3D CAM software projected to dominate and capture over 81% of the revenue share by 2031.

The increasing demand for complex geometries and intricate designs in industries such as aerospace, automotive, and medical devices is one of the primary drivers of this trend in the CAM software market. 3D CAM software is highly precise and accurate compared to traditional 2D software, making it suitable for such applications.

Additionally, 3D CAM software is becoming more accessible and user-friendly due to advancements in software design and the availability of cloud-based solutions. As a result, small and medium-sized businesses that previously did not have access to CAM technology are now adopting it.

The COVID-19 pandemic has also contributed to the adoption of digital manufacturing technologies, as companies seek to improve operational efficiency while minimizing human contact. 3D CAM software is well-positioned to benefit from this trend, as it allows manufacturers to optimize their production processes and reduce the need for human intervention.

Yearly Pricing Model to Garner More than 74% Revenue of Global CAM Software market

The market for CAM software has shifted towards yearly subscription models, which contribute to over 72% of the revenue generated in this industry. This trend is largely driven by the advantages that subscription models offer for both software vendors and customers. For software vendors, yearly subscriptions provide a predictable revenue stream, allowing for more effective long-term planning and investment. This is particularly important in the rapidly evolving CAM software market, where innovation and staying ahead of the competition are key to success.

Additionally, subscription models allow vendors to offer access to the latest software updates, technical support, and other valuable services, which can be a powerful marketing tool to attract and retain customers.

Customers, on the other hand, benefit from subscription models in several ways. Firstly, they gain access to the most up-to-date software features and functions, which can help increase their efficiency and productivity. Secondly, subscription models offer greater flexibility, allowing customers to adjust their usage and payment plans based on their needs. This is particularly valuable for small and medium-sized businesses that have fluctuating demand for CAM software services.

Furthermore, subscription models eliminate the need for customers to install and maintain the software on their own systems, which can be a significant cost-saving measure in the CAM software market. Additionally, cloud-based solutions have made it easier for customers to access and utilize CAM software, as they can simply log in from any device with an internet connection.

Some of the Top Market Players Are:

• 3D Systems, Inc.
• Autodesk Inc.
• Bobcad-Cam, inc.
• Camnetics, Inc.
• CNC Software, Inc.
• Dassault Systèmes
• GRZ Software LLC
• Jinan Beta CNC Machinery Co., Ltd.
• Machining Software Pvt. Ltd
• MECSOFT Corporation
• SIEMENS AG
• SOLIDCAM GMBH
• VERO Software (Hexagon AB)
• WiCAM
• ZWSOFT (ZWCAD Software Co., Ltd.)
• Other Prominent Players

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About Astute Analytica

Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

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