Computer Aided Machinery also known as CAM refers to the utilizes computers that help in assisting various manufacturing processes of a manufacturing unit such as storage, planning, storage, transportation, and management. It promotes a faster process of the production process, material consistency and tooling with precise options.. CAM is highly demanded in the sectors such as automobiles, aerospace & defense. Furthermore, growing need of CAM software in packaging machinery, increasing industrialization processes and the increasing adoption of cloud services is bolstering the growth of CAM software market at a rapid pace worldwide.
Insight by Technology Type
On the basis of technology type, the CAM market is categorized into 2D and 3D CAM. Among these two segments, 3D CAM is anticipated to witness faster growth during the forecast period due to its increasing popularity among the population of various developed and developing economies. The 3D CAM do not require any frames of wire and utilize primitive shapes of solid. Furthermore, it is beneficial for user to use it to create additional surfaces and thereby significantly contributing towards the growth of CAM software market globally.
Insight by Industry User
Based upon industry user, the CAM software market is categorized into shipbuilding, aerospace & defense, machine tool, automobile & train, and others. Among all these segments, the aerospace & defense domain is anticipated to witness the fastest growth during the forecast period since it has been observed that in this domain a large amount of accuracy is required to attain enhanced production efficiencies and accuracy in its operations. Furthermore, CAM software helps in predicting chip loads that are vital in removing large material applications thereby simplifying the process and enhancing the demand for CAM software market globally.
Rapid industrialization, growing use of CAM software in packaging machinery and increasing adoption of cloud technologies are the key factors that are driving the growth of CAM market across the globe. Furthermore, it has been observed that increasing industrialization leads to more manufacturing activities and CAM technology is implemented by various business organizations to work in an effective and efficient manner.
The computer-aided manufacturing is being highly adopted in different types of manufacturing market as well as the packaging industries. Computer-aided manufacturing is seeing a lot of advancements in the technology such as XML, cloud computing and quantum computing that has users to increase the portability in designs, easy access to designs through cloud computing and require less infrastructure. Furthermore, growing use of CAM software in packaging machinery increases the demand of CAM software substantially and the introduction of cloud computing makes it more efficient and easily accessible, therefore making the market grow at a rapid pace.
Numerous functions and high-speed machining are the key factors that are hampering the growth of CAM market across the globe. Furthermore, high-speed machining requires the various techniques and further equipment that coordinate with the software manufacturing process which is another factor that is restraining the growth of CAM market across the globe.
Globally industry players are leveraging market growth through the development of innovative solutions in CAM software market. The vendors for the CAM technology are providing various solutions to the users such as advanced technology for better and quick responses to the manufacturing process thereby fuelling the growth of CAM software market across the globe.
Geographically, CAM software market in Asia-Pacific is expected to generate the largest revenue by 2024 due to increasing industrialization process in the region and increasing adoption of cloud technology. Furthermore, it has been observed that China and India comprise of key manufacturers in this region as a result to which CAM software market is observing rampant growth in this region during the forecast period.
Key players in CAM software market are performing mergers and acquisitions in order to enhance their product offerings and further enable cost-effective seamless experience to its users. For instance, merger of Siemens and Vistagy Inc. had added several new software packages to provide users with seamless business operations. Furthermore, companies like Autdesk are ready to capitalize their resources in the CAM market. Some of the key players in global CAM market include Siemens AG (Siemens Plm Software, Inc., Bricsys NV, Caxa Technology Co. Ltd., Dassault Systems, Schott Systeme GmbH, PTC Inc., CNC Software Inc. (Mastercam) and ZWCAD Software Co. Ltd.