PRLog - Aug. 28, 2011 - London, UK -- A recently released report by Technavio, specialists in emerging technologies market research, reveals that the Asia Pacific CAD Software market is expected to grow at a CAGR of 10.4 percent.
The report, which focuses specifically on the Asia Pacific region, indicates that the market is being driven by the significant savings that CAD software can help companies achieve in terms of product design and development.
According to Technavio’s industry analyst, “Product design is the one of the key areas of focus for the manufacturing industry. It is estimated that 80 percent of the entire product cost depends on the product design. The use of CAD software to effectively design components helps to reduce MRO (Maintenance, Repair, and Overhaul) and related expenses during the production cycle.”
The report also highlights that the increasing number of counterfeit products is hindering the growth of this market. However, the increased adoption of CAD software by several industries is expected to keep boosting demand. There is also increasing demand from the MSME sector.
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 report, CAD Software Market in the Asia Pacific 2010-2014, is based on extensive research conducted with industry experts, vendors, and end-users. It examines the key trends, drivers, and challenges impacting the evolution of this market. The report also contains incisive insights and SWOT analyses regarding the key vendors in this market, including Autodesk Inc., Dassault Systèmes SA, Siemens PLM, and Parametric Technology Corp.
For further information and to obtain your copy of this report, please visit http://technavio.com/
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