The Global CAD market is expected to post a CAGR of 8.6% during the period 2012-2016, according to a new report from TechNavio. The largest revenue contribution to the Global CAD market comes from the Europe region, followed by the Asia-Pacific (APAC) region, and North America. The market is expected to post revenue of $8.2 billion in 2016, according to TechNavio's report, "The Global CAD Market 2012-2016."
The need for enhanced product visualization is expected to be one of the key market drivers. The increasing threat from open source and pirated CAD software solutions is a challenge that could affect the growth of the market during the forecast period.
TechNavio also reported that the global CAE market is expected to grow at a rate of 11.18% during the same period, reaching revenue of $3.4 billion.
For more information, visit TechNavio.
Sources: Press materials received from the company and additional information gleaned from the company's website.