DUBLIN — (BUSINESS WIRE) — May 3, 2012 — Research and Markets ( http://www.researchandmarkets.com/research/4dwn8b/global_3d_computer) has announced the addition of the "Global 3D Computer-aided Design Market 2011-2015" report to their offering.
One of the key factors contributing to this market growth is the need to reduce product development time and cost. The Global 3D Computer-aided Design market has also been witnessing development of mobile 3D CAD applications. However, the high availability of open source 3D CAD software could pose a challenge to the growth of this market.
Key vendors dominating this market space include Dassault Systemes SA, Siemens PLM, Parametric Technology Corp., and Autodesk Inc.
Commenting on the report, an analyst from TechNavio's Engineering team said; Cloud-based services offer huge data storage, access to subscribed software, and security. These features have led to an increase in the development of cloud-based 3D CAD applications. Cost-effectiveness, easy access, and flexibility are some of the major factors that are driving this trend. Thus, small and medium enterprises (SMEs) prefer cloud-based 3D CAD solutions because there is no need for a huge initial investment. Further, it also enables the end-user to pay per use or on a rental basis, avoiding subscription fees, software licenses, and hardware costs.
According to the report, the increasing need to reduce the development time and cost of products is one of the major drivers for the Global 3D CAD market. There is increased demand for cost-effective quality product development in industries such as Automotive, Aerospace, Electrical and Electronics, and Industrial Machinery. This increases the competition in these industries and thus drives the growth of the Global 3D CAD market.
Further, the report also discusses that the high availability of open source 3D CAD software affects the growth of commercial 3D CAD vendors in the Global 3D CAD market.
For more information visit http://www.researchandmarkets.com/research/4dwn8b/global_3d_computer