Electrical Computer-Aided Design (ECAD) Market Size with Global Demand Analysis and Business Opportunities Outlook 2025

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Nov 11, 2020 (AmericaNewsHour) —
Kenneth Research has recently added a market research study on Electrical Computer-Aided Design (ECAD) Market 2025 which provides a complete comprehensive analysis including the data by Segmentations, by Geography and as well as the competitive landscape of the top 10 Vendors in this market.The Global Electrical Computer-Aided Design (ECAD) Market is expected to register a 9.22% 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 2,860.3 Million by 2024

In 2018, the worldwide GDP stood at USD 84,740.3 Billion as compared to the GDP of USD 80,144.5 Billion in 2017, marked a growth of 5.73% in 2018 over previous year according to the data quoted by International Monetary Fund. This is likely to impel the growth of Electrical Computer-Aided Design (ECAD) Market over the period 2019-2026. As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017.

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Market Snapshot

North America accounted for the largest market value of USD 620.4 million in 2018; the market is expected to register a CAGR of 7.94% during the forecast period.

The Final Report will cover the impact analysis of COVID-19 on this industry:

Electrical computer-aided design (ECAD) is a real-time standalone, easy-to-use, multi-user electrical design tool that helps in efficiently defining the electrical interconnections for complex electrical systems. It helps in designing circuits quickly, accurately, and efficiently by optimizing the overall design process. This software assist engineers in creating electrical schematic designs and systems seamlessly and at a rapid pace as compared to traditional, by-hand methods with higher accuracy and precision. This software is widely used to automate tasks such as updating components lists, connection lists and wire numbering, enabling electrical standards within the drawing, intelligent copying, communication with PLC I/O tools, and filling out bills of materials (BoM), among others.

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Major ECAD software provides extensive symbols & parts libraries, live parts price and its availability data, and 2D cabinet layout facility, among others. ECAD is used for different purposes such as diagram making, 3D assembly, concurrent designing, and generating manufacturing and documentation.

Based on type, the market has been classified as process industry and discrete industry. The discrete industry or discrete manufacturing primarily comprises the industrial manufacturing, automotive, aerospace, and electronics industries. Discrete manufacturing involves the production of distinct products that can be combined or integrated with another product. Discrete manufacturing is used in situations of high-precision, low volume or low-precision, and high-volume manufacturing.

The process industry or process manufacturing, on the other hand, involves continuous or batch processing/manufacturing. The major industries involved in process manufacturing include food & beverages, chemicals, pharmaceuticals, petroleum, coal & mining, rubber, paper & pulp, and wood. Various engineering tools and software are used in the process industry to practice advanced industrial engineering techniques.

The manufacturing and production process within the process industry highly complex that includes large, complex configurations of equipment working simultaneously. Furthermore, increasing challenges such as the growing focus on safety and environmental concerns, the growing viability of new energy sources, and the rising cost of products have combined to create a new set of competitive pressures on designers and engineers who develop equipment and systems for the process industry.

ECAD is an effective 3D product development solution that improves the manufacturing and design processes, accelerates time-to-market, controls development costs, improves product quality, and aids in increasing cash flow and profit margins. However, a lack of technical expertise might hamper market growth.

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Regional Analysis

The global electrical computer-aided design (ECAD) market, by region, has been segmented into Asia-Pacific, North America, Europe, and the rest of the world. North America is expected to dominate the global electrical computer-aided design (ECAD) market during the forecast period due to the increasing number of process and discrete industries and high investments in industrial manufacturing in the region.

Companies Covered

The key players of the global electrical computer-aided design (ECAD) market are Dassault Systemes SE, EPLAN Software & Service, Siemens PLM, Autodesk, Inc., Trimble, Inc., Bentley Systems, Inc., Nemetschek SE, IGE+XAO, and ALPI International Software, among others.

Key Developments

In June 2019, Siemens AG announced the latest version of its Solid Edge 3D industrial design software–Solid Edge 2020–which added augmented reality in its new features. This will help the company’s internal teams to better collaborate on prototype designs, and efficiently facilitate the presentation of work product to suppliers and customers.

In April 2019, Autodesk Inc. released a new version of Revit–Revit 2020, which includes incorporating improvements in Revit 2019.1 and Revit 2019.2. The new version includes a set of new tools and enhancements that help generate consistent, coordinated, and complete model-based building designs and documentation.In June 2019, Schneider Electric SE, a leading company in the Digital Transformation of Energy Management and Automation, acquired ALPI International Software SA. This acquisition helps Schneider Electric in strengthening their capabilities in digital transformation.

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In December 2018, Siemens acquired COMSA, a company which develops software for electrical systems design and wire harness engineering to further extend lead in automotive electrical systems design. COMSA’s LDorado software strengthens Siemens’ global automotive lead with the addition of key capabilities in wire harness engineering and design data analytics.

Segmentation

By Component: Software and Services

By Industry Type: Discrete Industries and Process Industries

By Application: Industrial Machine Controls, Plant Design, Mining Equipment Control, Rail Signaling, Switchgear Design, Water Treatment and Distribution System Control, and Others

By Vertical: Automotive, Aerospace & Defense, Construction, Railway, Power Generation and Energy, Equipment and Machinery, Oil & Gas, Food & Beverage, and Others.By region: North America, Asia-Pacific, Europe, and Rest of the World

Key questions addressed by the report

What was the historic market size (2018)?

Which segmentation (Component / Solution/ Industry) is driving the market?

What will be the growth rate by 2024?

Who are the key players in this market?

What are the strategies adopted by key players?

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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The post Electrical Computer-Aided Design (ECAD) Market Size with Global Demand Analysis and Business Opportunities Outlook 2025 appeared first on America News Hour.

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