Electrical CAD Market Size, Share, Growth, and Industry Analysis, By Type (3D, 2Dand Others), By Application (Large Enterprises, SMEs and Others) Regional Insights and Forecast to 2032

Updated On: 08 April 2024

Electrical CAD Market REPORT OVERVIEW

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The global electrical CAD market size was USD 2071.9 million in 2021. As per our research, the market is projected to touch USD 4704.22 million by 2032, exhibiting a CAGR of 7.74% during the forecast period. 

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Electrical computer-aided design, or CAD, is the process of creating, modifying, analysing, or optimising electrical designs using computer software. Electrical engineers and designers frequently utilise electric CAD software to produce wiring diagrams, circuit board layouts, schematics, and other electrically related drawings.

COVID-19 Impact: The Lockdowns and Restrictions Led the Shift to Remote Work and Upgraded the Market Growth

Digital collaboration tools and remote work have become more popular across industries because to COVID-19. It is possible that CAD software suppliers modified their products to allow engineers and designers to collaborate remotely while working on projects from home. It's possible that this change had an impact on the features and cost structures of electric CAD software. The pandemic brought to light the value of efficiency and automation across a range of businesses. It's possible that businesses looking to optimise their design and production processes saw a spike in demand for electric CAD software with automation, simulation, and optimisation tools. Prior to the pandemic, cloud-based CAD solutions were becoming more and more popular. The move from traditional on-premise Electric CAD software to cloud-based alternatives may have been expedited by the requirement for remote collaboration.

LATEST TRENDS

"IoT, AI and Cloud-Based Collaboration to Grow Market Potentially"

One notable trend is the incorporation of Internet of Things technologies into electrical designs. An adaptation of electric CAD software is being made to make the design of IoT-enabled systems and devices easier. Designing sensors, connectivity modules, and Internet of Things platforms is part of this. Electrical CAD systems are being enhanced with artificial intelligence and machine learning to automate specific design process steps. This covers duties including choosing components, optimising layouts, and even helping to create schematics based on design specifications. More and more people are using cloud-based Electric CAD systems, which allow team members to collaborate in real time, no matter where they are in the world. Cloud systems improve productivity and cooperation by enabling numerous engineers to work on the same project at once. The design and maintenance of electrical systems make use of AR technology.  With AR tools, engineers may see electrical systems and components superimposed on the real world. This makes maintenance and repair activities easier and supports the process of design validation.

Electrical CAD Market SEGMENTATION

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• By Type

Based on type the market is classified as 3D, 2D and others.

• By Application

Based on application the market is classified as large enterprises, SMEs and others.

DRIVING FACTORS

"Rapid Technological Advancements and Globalization to Surplus the Market Growth"

The swift progression of technology necessitates that engineers create inventive and effective electrical gadgets. Engineers can create cutting-edge products and stay up to date with technical advancements thanks to electrical CAD software. The incorporation of digital technologies into industrial processes is emphasised by the idea of Industry 4.0. A key component of this change is the digitalization of the design and manufacturing processes made possible by electric CAD software. Many businesses work with teams that are spread out throughout the globe and conduct business globally. Real-time collaboration is made easier for worldwide teams to collaborate effectively by cloud-based electric CAD software.

"Complexity of Electric System, Time and Cost Savings to Raise the Market Share"

Contemporary electrical systems, such as those found in buildings, industries, and consumer gadgets, are increasingly complicated. The features required to design complex circuits, guaranteeing efficiency, safety, and regulatory compliance, are provided by electrical CAD tools. Businesses may minimise errors early in the design phase, cut down on the time it takes to make design iterations, and save money by using Electrical CAD software instead of purchasing physical prototypes. These tools play a major role in saving money and time during the product development process. These motivating elements emphasise how crucial Electric CAD software is to the contemporary engineering environment, allowing engineers to create creative, secure, and effective electrical systems for a variety of uses. In contemporary electrical systems, energy efficiency has grown to be an important concern. With the use of simulation tools found in electrical CAD software, engineers may optimise designs to use less power and have a smaller environmental impact.

RESTRAINING FACTORS

"System Requirements, Limitations and Compatibility Issues to Restrain the Market Growth"

Although electrical engineering makes extensive use of Computer-Aided Design (CAD) software, which is a potent tool, it is not without restrictions. Powerful computer systems are frequently needed for electric CAD software, especially the more complex ones. To run these applications smoothly, engineers may require high-performance computers with enough memory and processing power, which would raise the entire cost. It might be difficult to integrate Electrical CAD software with other software systems (such ERP, or enterprise resource planning) or PLM, or product lifecycle management. It may take extra time and knowledge to ensure smooth data interchange and tool compatibility. Version compatibility can be a problem in larger projects involving numerous team members working together. It is possible for various team members to be using different software versions, which could cause compatibility problems and possibly result in the loss of features or data while exchanging files. These barriers, limitations and compatibility issues combined have a substantial influence on electrical CAD market growth.

Electrical CAD Market REGIONAL INSIGHTS

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"Asia Pacific Region to Dominate the Market with Booming Electronics Manufacturing"

Asia-Pacific's electrical CAD market share is expanding quickly, driven by demand from nations like China, Japan, South Korea, and India.  There is a big market for Electric CAD software in China, a country that is a key manufacturing centre. The adoption of CAD tools for the design of various electronic devices and systems is driven by the nation's electronics industry, which includes consumer electronics and telecommunications. Japan, a country renowned for its inventiveness and cutting-edge technology, has a thriving industry for Electric CAD software. CAD software is widely used by Japanese engineering organisations, especially in the automotive and electronics sectors, for product design and development. The use of Electric CAD software has expanded as a result of India's expanding manufacturing and industrial sectors. The nation's emphasis on technologically advanced initiatives and the abundance of engineering colleges support the growing market for computer-aided design (CAD) technologies.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

The industry is tremendously competitive, with numerous global and regional companies. Major players are contemplating numerous plans such as mergers and acquisitions, collaborations, the introduction of new and improved products, and joint ventures.

List of Market Players Profiled

• Trimble (U.S.)
• Unigraphics (NX) (Germany)
• Dassault Systèmes (Solidworks) (France)
• Mentor Graphics (U.S.)
• Zuken Inc. (Japan)
• Bentley Systems (U.S.)
• SmartDraw (U.S.)
• Autodesk (U.S.)
• IGE+XAO (France)
• Eplan (Germany).

REPORT COVERAGE

The report includes a SWOT analysis as well as information on potential developments. The examination of a variety of elements that encourage market expansion is included in the research report. This section also includes a wide range of market categories and applications that may have an impact on the market in the future. The details are based on current trends as well as historical turning moments. The current situation of the market's components and prospective growth areas in the coming years.