Increased Usage in Automotive Industries Driving Growth Prospects in the CAD Market in the UK

LONDON - Aug. 18, 2015 - PRLog -- Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the CAD market in the UK 2015-2019.   The availability of cloud-based services has been on the rise in the UK. Industries are focused on reducing PLM adoption costs, which is leading to the popularity of cloud-based PLM software. Various PLM service providers are implementing the technology on cloud. The CAD market in the UK 2015-2019 is expected to grow at a CAGR of 3.94% during 2015-2019.

Revenue generation from sales through partners is expected to exceed direct sales of original software providers in the future. Currently, system integrators and resellers/VARs are concentrated on specific industries, capturing niche markets. This trend will continue to grow with the emergence of several SMEs in the automotive, aerospace and defense, industrial machinery, and electrical and electronics industries.

“Aerospace and defense, and automotive industries contribute largely to the growth of the CAD market in the UK. These two end-users have recorded robust growth in the past few years in the UK, and will drive market growth in the future,” says Faisal Ghaus, Vice President of Technavio Research.

“Also, increase in product recalls in the automotive industry has led to higher focus on design and specifications among manufacturers, and fueled the need for manufacturing.”

To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.

If you are interested in more information on this topic and our upcoming research on the CAD Market in the UK 2015-2019 (http://www.technavio.com/report/uk-cad-market?utm_source=...), please send an e-mail to media@TechNavio.com