DUBLIN — (BUSINESS WIRE) — September 21, 2011 — Research and Markets( http://www.researchandmarkets.com/research/0c448b/computer_aided_des) has announced the addition of the " Computer Aided Design Software Market in India 2010-2014" report to their offering.
A recently published report by Technavio, specialists in emerging technologies market research, reveals that the Computer Aided Design Software market in India is expected to grow at a CAGR of 26 percent over the period 2010-2014. The report, which focuses specifically on India, indicates that the market is being driven by the need to meet international quality standards.
According to Technavio's industry analyst, with increasing competition, there is an urgency to develop quality products and achieve international quality accreditations. CAD deployment becomes useful in this scenario as it enables draftsmen to effectively design objects with better efficiency and quality. Moreover, several global automotive companies are outsourcing their services and increasing investments in India because of the country's low-cost manufacturability. This, in turn, increases competition among Indian suppliers to develop high-quality products for better revenue generation.
The report also highlights that the increasing number of counterfeit products is hindering the growth of this market. However, decreasing product design and development costs are expected to keep driving the market. This market is also marked by a transition from 2D to 3D CAD. These are just some of the important findings presented in the report that will enable companies to fully understand the potential in this market and formulate their own strategies.
Technavio's analysts forecast the Computer Aided Design (CAD) Software market in India to grow at a CAGR of 26 percent over the period 2010-2014. One of the key factors contributing to this market growth is the need to meet international quality standards. The CAD Software market in India has also been witnessing continuous transitions from 2D to 3D CAD. However, the increasing number of counterfeit products could pose a challenge to the growth of this market.
Companies mentioned in this report include Autodesk Inc., Dassault Systmes SA, Siemens PLM, and Parametric Technology Corp.
For more information visit http://www.researchandmarkets.com/research/0c448b/computer_aided_des.
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