Injection Molding Software Market Size, Share, Growth, and Industry Analysis, By Type (CAD software, Simulation software, Production software, and Monitoring/quality control software), By Application (General Plastics Industry, Automobile Industry, Home Appliance Industry, Other Industries), Regional Insights and Forecast to 2031

Updated On: 22 April 2024

Injection Molding Software Market Report Overview

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The global injection molding software market size was USD 839.0 million in 2021. As per our research, the market is expected to reach USD 1449.74 million in 2027, exhibiting a CAGR of 9.54% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the injection molding software market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

Injection molding software refers to computer programs and tools that are used in the design, analysis, and optimization of injection molding processes. Injection molding is a manufacturing technique used to produce plastic parts and products by injecting molten plastic material into a mold cavity, where it cools and solidifies to take on the shape of the mold. Thus, the software plays a crucial role in various aspects of this process.

Furthermore, injection molding software offers cost-effectiveness by minimizing material wastage and optimizing production cycles. Through simulation capabilities, manufacturers can simulate different scenarios before actual production takes place which identifies potential issues early on and makes necessary adjustments without incurring additional expenses.

COVID-19 Impact: Economic Uncertainties & Shortage of Worker Halted the Market Growth

The COVID-19 pandemic profoundly affected the market for injection molding software. The industrial shutdown and closure of manufacturing units descended the demand for the software amid the coronavirus outbreak. Also, the scarcity of raw materials, shortage of workforce due to lockdown restrictions, and economic uncertainties slow down the growth of the market. However, post-pandemic in the year 2022, the market has experienced a steady growth in the demand for injection molding software due to growing demand from application segments which is anticipated to continue rice in the coming years.  

Latest Trends

"Integration of AI and Machine Learning Boost Market Scope"

The injection molding software market is experiencing significant growth due to various driving factors and trends in the industry. This software plays a crucial role in optimizing the manufacturing process, improving efficiency, reducing errors, and enhancing overall productivity. One of the latest trends in the market is the integration of artificial intelligence and machine learning technologies. These advancements enable manufacturers to analyze real-time data, predict potential issues, and optimize production parameters for better quality control.

Injection Molding Software Market Segmentation

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• By Type Analysis

According to type, the market can be bifurcated into CAD software, Simulation software, Production software, and Monitoring/quality control software.

• By Application Analysis

Based on application, the market can be divided into General Plastics Industry, Automobile Industry, Home Appliance Industry, Other Industries

Driving Factors

"Adoption of Automation and Digitization in Manufacturing Lift the Growth of the Market"

One of the driving factors behind the growth of this market is the increasing adoption of automation and digitization in manufacturing processes. Injection molding software enables manufacturers to streamline their operations, reduce errors, and enhance productivity. Additionally, it allows for real-time monitoring and control which leads to improved quality control and reduced wastage.

"Growing Demand for Complex Design Products Spur Market Development"

Another factor contributing to the market's growth is the rising demand for complex molded parts across various industries such as automotive, healthcare, electronics, and consumer goods. The software's ability to design intricate molds with precision and speed has become a necessity for manufacturers striving to maintain competitiveness in these sectors. Therefore, these driving factors are projected to enhance the injection molding software market growth during this projection timeframe.

Restraining Factors

"High Initial Investment Can Confine the Market Expansion"

However, there are also restraining factors that can slowdown the market’s progress. One such factor is the high initial investment required for implementing injection molding software solutions. Despite long-term cost savings through increased efficiency and reduced scrap rates, some companies may hesitate due to budget constraints which may curb the market expansion. 

Injection Molding Software Market Regional Insights

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"Asia Pacific is Likely to Lead the Market with Thriving Manufacturing Sector"

According to market research, the Asia Pacific region is remarkably contributing to the growth of the injection molding market. Due to the region’s thriving manufacturing sector, increasing industrialization, and the presence of numerous manufacturing hubs, predominantly in countries such as China, Japan, South Korea, and India, the demand for software is anticipated to inflate in the region. As a result, these factors are expected to contribute to the region’s leadership position with the highest injection molding software market shares in the international marketplace. 

Key Industry Players

"Key Players Offer Comprehensive Software that Cover Various Aspects of the Injection Molding Process"

Notable companies in the injection molding software market maintain their competitive edge through a focus on innovation, user-friendly interfaces, comprehensive solutions, global reach, strong customer support, customization, integration capabilities, industry partnerships, continuous improvement, and price competitiveness. These strategies collectively enable them to meet the evolving needs of the industry and retain their leadership position. Moreover, the top five companies occupy the majority of the shares of the market.

List of Market Players Profiled

• Simcon (Germany)
• CoreTech System (Taiwan)
• SAP (Germany)
• Hexagon (Sweden)
• Autodesk (U.S.)
• SigmaSoft (Germany)
• ESI Group (France)
• Siemens Digital Industries Software (U.S.)
• RJG, Inc. (U.S.)
• HCL Technologies (India)

Report Coverage

This report defines the injection molding software market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.