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Asia-Pacific is expected to observe highest growth rate during the forecast period, owing to proliferation of advanced technologies such as additive manufacturing, advanced robotics, industrial internet of things IIOT , and augmented reality. In addition, surge in demand for computer aided manufacturing and service offerings by manufacturers propels Computer Aided manufacturing market growth in India.
Moreover, India is one of the fastest growing domestic aviation markets in the world and many airlines have embarked on fleet expansion to cater to unprecedented surge in passenger traffic. Thus, the aerospace industry of India offers lucrative opportunities for growth of the Computer aided manufacturing market. Moreover, Computer aided manufacturing have gained traction in the Australia 3D printing technology industry for use in creating replicas of proposed products that have not been commercialized.
However, availability of free and open-source Computer aided manufacturing is expected to impede the market growth. Conversely, increase in adoption of cloud-based solutions and technological advancements in Computer aided manufacturing are expected to present major opportunities for market expansion in the future. The COVID outbreak has considerable impact on the growth of the Computer aided manufacturing market, as adoption of computer aided manufacturing have decreased in the face of unprecedented circumstances.
This is attributed to decrease in spending by vendors serving the automobile and aerospace industry. Some of the key computer aided manufacturing industry players profiled in the report include Autodesk Inc. This study includes computer aided manufacturing market trends, computer aided manufacturing market analysis, and future estimations to determine the imminent investment pockets. By design type, in the 3D segment dominated the computer aided manufacturing market size and is expected to exhibit significant growth during the forecast period.