Definition of CAM Software Market

Computer-aided manufacturing (CAM) refers to the use of software for controlling machine tools in the manufacturing of workpieces. It is also referred to as the use of a computer to assist in the operations of a manufacturing plant by fostering the production process. It has revolutionized the industrial production that is used to make prototypes and final products. Furthermore, CAM enables high manufacturing speed and precision that outpace the traditional methods based on human-reliant.

Global CAM Software Market: Key Insights

Global CAM Software Market Highlights Over 2023 - 2033

The global CAM software market is estimated to garner a revenue of USD 7.0 Billion by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 3.0 Billion in the year 2022. The growth of the market can be attributed to the high adoption of the 4.0 industry which is a digital transformation of production and related industries. Moreover, it improves the efficiency of organizations with a cost reduction. Digital transformation spending across the globe has reached more than USD 1 Trillion in the year 2020. 

GET A SAMPLE COPY OF THIS REPORT

Computer-aided manufacturing (CAM) refers to the use of software for controlling machine tools in the manufacturing of workpieces. It is also referred to as the use of a computer to assist in the operations of a manufacturing plant by fostering the production process. Moreover, CAM software improves the efficiency of robots in the production process. Hence, the rapid adoption of robots is anticipated to surge the growth of the global CAM software market. There have been more than 4,20,000 units of industrial robots sold in the year 2018 across the globe.

Global CAM Software Market: Growth Drivers and Challenges

Growth Drivers

• Surging Industrial Production– The repetitive work can be reduced with the support of designing the program of the production process. Hence, it is projected to increase the growth of the global CAM software market. In India, industrial production increased by more than 2 percent in July 2022

• Growing Automation Process– Manufacturing industries are moving towards automation processes to boost their sales and streamline operations. Therefore, it is expected to drive the growth of the global CAM software market. More than 85 percent of the hours spent in production occupations by employees are automatable.

• Growing Adoption of Cloud-Based Technology -More than 60 percent of organizations have shifted their workload to the cloud in the year 2020

• Surging Spending on Research and Development – The surging spending on research and development supports innovation in the manufacturing process. Therefore, it is anticipated to increase the growth of the global CAM software market. For instance, global spending on research & development has reached nearly USD 1.7 Trillion in the year 2022.

Challenges

• Lack of Technical Employees

There is a need for technical employees for operating the CAM software for the manufacturing process. It is used for the encoding of geometrical data into the system mechanically which requires professionals. Hence, it can restrain the growth of the global CAM software market.

• High Cost for the Installation of CAM Software

• Lack of Awareness Among the End Users

The global CAM software market is segmented and analyzed for demand and supply by the end-users in automotive, aerospace, shipbuilding, and others. Out of these, the automotive segment is anticipated to hold the largest share over the forecast period owing to the rising manufacturing of new vehicles for sale across the globe. As per the European Automobile Manufacturers’ Association, nearly 79.1 Million motor vehicles were produced worldwide in the year 2021.

Global CAM Software Market Regional Synopsis

The North American region market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035 on the back of surging investment in engineering and designing software. Moreover, the increasing adoption of industrial robots is further expected to boost the growth of the market in the region. Nearly 242,000 robots were installed in China in the year 2020.

Market Segmentation

Our in-depth analysis of the global CAM software market includes the following segments:

Key Companies Dominating the Global CAM Software Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global CAM software market that are included in our report are SAP SE, Bentley Systems, Inc., Ansys, Inc., Autodesk, Inc., Vectorworks, Inc., Siemens Industry Software Inc., Hexagon AB, Rockwell Automation, Inc., PTC Inc., AVEVA Group plc, and others.

Global CAM Software Market: Latest Developments

• June 2018: Bentley Systems, Inc., announced the collaboration with Siemens to find the process industries academy for driving digital enterprise.

• August 2021: Hexagon AB has unveiled HxGN Robotic Automation, pioneering robotic programming and control software that enables non-specialist quality professionals to program industrial robots to perform a fully automated quality inspection.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

.