Market Synopsis
Electrical Computer-Aided Design (ECAD) Market is expected to register a 8.94% CAGR, exhibiting significant growth during the forecast period. The market was valued at USD 1,710.1 million in 2018; it is expected to reach USD 5.37 Billion by 2030. North America accounted for the largest market value of USD 620.4 million in 2018; the market is expected to register a CAGR of 8.94% during the forecast period. Increase in awareness about Electrical computer-aided design (ECAD) benefits, such as easy-to-use, real-time standalone, and multi-user electrical design tool that efficiently resolve electrical interconnections for complex electrical systems is expected to support the rise of the ECAD market across the analysis period. Features, such as designing circuits accurately, quickly, and with optimization of the overall design process can promote the rise of the electrical computer-aided design market in the years to come. The increase in the application of ECAD in diagram making, concurrent designing, 3D assembly, and generation of manufacturing and documentation can favour the market rise.
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Key Players: -
- Dassault Systems SE
- EPLAN Software Service
- Siemens PLM
- Autodesk Inc.
- Trimble
- Bentley Systems.
- Nemetschek SE
- IGE+XAO.
Market Segmentation
The segment study of the Global Electrical Computer-Aided Design (ECAD) Market is done by Industry Type, application, component, and vertical. The Component based segments of the electrical computer-aided design market are Software and Services. The Industry Type based segments of the electrical computer-aided design market are Process Industries and Discrete Industries. The Application based segments of the electrical computer-aided design market are Plant Design, Water Treatment and Distribution System Control, Switchgear Design, Industrial Machine Controls, Rail Signalling, Mining Equipment Control, and Others. The Vertical based segments of the electrical computer-aided design market are Equipment and Machinery, Construction, Automotive, Aerospace Defence, Power Generation and Energy, Railway, Oil Gas, Equipment and Machinery, and Food Beverage among others.
Regional Analysis
The trends of the electrical computer-aided design (ECAD) market is studied across APAC, North America, EU, and the rest of the world. MRFR regional evaluation reveals that the electrical computer-aided design market in North America is expected to be the largest market value. North America electrical computer-aided design market can thrive at 7.94% CAGR across the forecast period and reach a valuation of 0USD 620.4 million by 2024. The rise in the adoption of electrical computer-aided design (ECAD) technology across the growing number of discrete industries is expected to support the expansion of the regional market. In addition, the rise in industrial manufacturing investments can also promote the regional market growth.
In Europe, the mounting complexities of manufacturing process are creating growth scope for the electrical computer-aided design regional market. Along with, the rise in focus on environmental concerns and industrial safety can impel the expansion of the market across the review period. The rise of EU ECAD market can be attributed to increase in viability of new energy sources, and gradual rise in cost of products as fresh set of competitive designers and engineers are focused on innovation. In APAC, the rise in popularity of ECAD and other effective 3D solution to enhance manufacturing and design processes is expected to drive the regional market. Controls development costs, accelerates time-to-market, aids in increasing cash flow, improves product quality, and profit margins can boost the expansion of APAC ECAD market.
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