Electrical CAD Market To Increase Valuation With Surging Investments By 2024

Electrical CAD Market

The Global Electrical Computer-Aided Design (ECAD) Market is expected to register a 9.22% CAGR, exhibiting significant growth during the forecast period. The market was valued at USD 1,710.1 million in 2018; it is expected to reach USD 2,860.3 Million by 2024. North America accounted for the largest market value of USD 620.4 million in 2018; the market is expected to register a CAGR of 7.94% during the forecast period.

The global electrical computer-aided design (ECAD) market spans across North America, Europe, Asia-Pacific, and the rest of the world.

The increasing use of cloud-based ECAD tools and increasing demand for automation in process industries such as oil & gas and manufacturing are factors expected to drive the electrical computer-aided design (ECAD) market during the forecast period. However, the designing and creation of ECAD models require a high level of skilled expertise, which is expected to limit the market growth during the forecast period. Further, proliferation of smart grids and smart metering is expected to act as an opportunity for players in the global electrical computer-aided design (ECAD) market during the forecast period.

The geographic analysis of the electrical computer-aided design (ECAD) market has been conducted for North America, Europe, Asia-Pacific (APAC), and the rest of the world (RoW). North America is expected to dominate the electrical computer-aided design (ECAD) market during the forecast period

owing to the increasing number of process and discrete industries and high investments in industrial manufacturing in the region. Among the major countries in North America, the US exhibited steady growth in the global electrical computer-aided design (ECAD) market over the last decade. The major electronics and semiconductor companies in the US are increasingly adopting 3D printing technologies with the help of computer-aided design for printed circuit board designs. Enterprises in Canada are rapidly adopting visual representation techniques in the manufacturing of distinct parts and equipment; this is directly impacting the growth of electrical computer-aided design (ECAD) market.

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Electrical Computer-Aided Design Market by Growth and Analysis – 2024 | ECAD Market

Electrical Computer-Aided Design (ECAD) Market is probable to register a 9.22% CAGR, exhibiting…

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Competitive Analysis

The key players of the global electrical computer-aided design (ECAD) market are Dassault Systèmes SE (France), EPLAN Software & Service (Germany), Siemens AG (Germany), Autodesk, Inc. (US), Trimble, Inc. (US), Bentley Systems, Inc. (US), Nemetschek SE (Germany), IGE+XAO (France), and ALPI International Software (France), among others.

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Electrical Computer-Aided Design Market by Growth and Analysis – 2024 | ECAD Market

Electrical Computer-Aided Design (ECAD) Market is probable to register a 9.22% CAGR, exhibiting…

Read on marketresearchfuture.​com

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