Technical Illustration Software Market – Global Industry Analysis and Forecast to 2018 to 2027

 

Latest market study on "Technical Illustration Software Market to 2027 by Component (Solutions and Services); Technology (2D and 3D); Organization Size (SMEs and Large Enterprises); End User (Manufacturing, Aerospace & Defense, Automotive, Healthcare, Energy & Power, and Others); – Global Analysis and Forecast", the technical illustration software market is estimated to reach US$ 6.66 Bn by 2027 from US$ 4.17 Bn in 2018. The report includes a key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments.

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Increased adoption of digital technologies in organizations worldwide has resulted in the rising adoption of the technical illustration software. The technical illustration software market is further flourishing due to the rising adoption of portable computing devices at the workplace, coupled with the easy availability of this software overcloud. The rising need for automation in industries such as manufacturing and automotive is expected to create new opportunities for the global technical illustration software market during the forecasted period.

The global market for technical illustration software market is segmented based on the parameters such as component, technology, organization size, end user, and geography. Based on component, the solution segment dominates the technical illustration software market heavily and is expected to dominate the market in the forecast period from 2019 – 2027. On the basis of technology, 3D segment led the market in 2018 with a maximum market share and is expected to continue its dominance during the forecast period. Further, based on organization size, large enterprises segment led the market with the maximum market share. Furthermore, on the basis of end-user, manufacturing segment led the market with highest market share. Key players operating in the market are partnering with the small as well as large and other companies which are helping them to gain customer traction. The major companies offering technical illustration software market include ASA Computers, Inc., Autodesk, Inc., Canvas GFX, Inc., Corel Corporation, Cyient Ltd., Dassault Systèmes, Ignite Technologies, Inc., PTC Inc., QuadriSpace Corporation, and The Technical Drawing Company among others. Several other companies are also offering these technical illustration software for various manufacturers, which is facilitating the market to propel over the years.

The top five companies in the technical illustration software market include S ASA Computers, Inc., Autodesk, Inc., Cyient Ltd., Dassault Systèmes, and PTC Inc. The above listing of key players is derived by considering multiple factors such as overall revenue, current technical illustration software solutions portfolio, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions and other joint activities. A large number of software and service providers for technical illustration software are present in the market. The individual solutions and services offered by these providers are then integrated as per the specific requirements of the end-users. Also, these providers offer compatibility amongst the different applications of the end-users for centrally handling the entire process. In 2019, PTC announced the expansion of its Creo suite of computer-aided design (CAD) software. This software is used for the real-time simulation, augmented reality-driven experiences, IoT-connected design, and additive manufacturing.

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