CAM Software Market is forecast to reach $4.22 billion by 2025, after growing at a CAGR of 6.18% during 2020-2025. With rise in the usage of CNC machines in the industries the demand for CAM software is analyzed to increase. The key driving factor is the wide deployment of computer aided manufacturing where CAM software is surely employed to automate the process.Key Takeaways
North America is dominating the CAM Software market during the forecast period owing to the high presence of the manufacturers and distributors.
Adoption of CAM software in packaging machinery that helps to complete various phases of the packaging process is analyzed to propel the growth of the CAM Software market.
The significant rise in industrialization and the deployment of automation in the industries in driving the market for CAM software.
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Application - Segment Analysis
Packaging industry is analyzed to hold highest market share during the forecast period owing to the high adoption rate of CAM software owing to the application various phases of the packaging process. The various phases include filling, wrapping, strapping, and labelling. As the packaging machines are becoming increasingly complex with higher efficiency demand, engineers and designers adopt CAM software to face unique mechatronic engineering challenges thereby boosting the growth of the CAM software market. Adding to these CAM software offers an innovative tool, which is expected to increase the productivity and reduce the overall cost per package thereby contributing to the increased adoption rate and further elevating the market.
Drivers – CAM Software Market
Growing demand for Industrialization
The rise in industrialization, which is mainly focused on digital innovations and also the incorporation of the elements such as automation, biotechnology, artificial intelligence (AI), the Internet of Things (IoT), and 3D printing, is expected to increase the demand for CAM software as an important part of this new wave of technologies.
Market Landscape: Technology launches, acquisitions and R&D activities are key strategies adopted by players in the CAM Software market. In 2018, the market of CAM Software has been consolidated by the top players including Autodesk Inc., Mastercam, SolidCAM Ltd., Dassault Systèmes EdgeCAM, ZWCAD Software Co., Ltd., Siemens Product Lifecycle Management Software, GRZ Software, BobCAD-CAM, Inc., Cimatron Group, Camnetics, Inc., and MecSoft Corporation, Inc. among others.
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