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CAM Software Market Drivers Surge in Application of CAM Software in the Industry Verticals and Adoption of Cloud

HYDERABAD, TELANGANA, INDIA, January 2, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that CAM Software Market Size is forecast to reach $3.3 billion by 2026, at a CAGR of 6.5% during 2021-2026. North America held the largest market share of 30.7% in 2020 from overall global CAM Software Market. Growth in this region is attributed to the ever increasing demand from various industry verticals including Manufacturing, Automotive, Aerospace and Defense and others. Moreover, this region is witnessing a significant growth of around 5.89% during the forecast period 2021 – 2026. Surge in demand for CAM software to facilitate and automate the manufacturing processes, has significantly boosted the market growth. In November 2020, Battery Ventures agreed to acquire GibbsCAM and Cimatron software business. Through this acquisition the company will bring CAM innovator in fabrication, toolmacking and production machining industries. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Research/CAM-Software-Market-Research-502570

Key takeaways:

1. Enterprises are adopting SaaS which is enabling redeployment of their software tools and data. Surge in use of CAM software as it provides improved product quality has considerably proven to be effective in sharing of design information.

2. With the use of CAM software machinery can turn raw material into finished products and helps in making a product by generating tool paths.

3. To automate the manufacturing process CAM uses software and computer controlled machinery through which machine can produce parts easily.

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Segmental Analysis:

1. The CAM software is segmented into two types by model, of which the 3D CAM software such as solid modeling, surface modeling, sculpting and others has the widest variety of applications and held the largest market share estimated to around 73.1% in 2020. Covid-19 has significantly impacted the manufacturing sector, thereby resulting in the higher adoption of automation in 2020, boosting the CAM software usage as they handle large assemblies.

2. Among all the other end user industries, the CAM Software Market was dominated by Automotive vertical as they held the largest market share of around 23.63% in 2020. Additionally, the Healthcare sector is witnessing a significant growth rate estimated to around a CAGR of 1.32% during the forecast period 2021 – 2026.

3. The CAM software technology is segmented into three types by integration, of which the standalone has the widest variety of applications and held the largest market share estimated to around 74.08% in 2020. In December 2019, the state of Virginia has announced plans to acquire a 360 km of railway from Class I railroad CSX Corp for $5·6bn.

4. CAM Software market in Asia-Pacific region held significant market share of 40.5% in 2020. U.S is predicted to dominate the global CAM software market during the forecast period due to the region's large presence of distributors and resellers selling CAM software.

Competitive Landscape:

The top 5 players in the CAM Software industry are -

1. Autodesk

2. Siemens

3. Dassault Systemes

4. CNC Software

5. BobCAD-CAM

Click on the following link to buy the CAM Software Market Report:
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Related Reports:

A. CAD Modelling Software Market
https://www.industryarc.com/Research/CAD-Modelling-Software-Market-Research-502767

B. Computer Aided Detection Market
https://www.industryarc.com/Report/16947/computer-aided-detection-market.html

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