Albany, NY -- (SBWire) -- 01/16/2019 --CAM (computer-aided manufacturing) software is a software solution used to computerize or automate the manufacturing process. CAM software solutions help in the manufacturing and designing process, especially for computer numerical control (CNC) machining. CAM software solution is used for programming manufacturing processes. It helps in all operations of a manufacturing plant, such as management, planning, transportation, and storage. CAM software solutions are majorly used in automotive and aerospace industries, architecture, construction, and media and entertainment industries.

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The driving factor of the global CAM software market is the rise in industrialization across the globe. The increase in automation, Artificial Intelligence (AI), Internet of Things (IoT), and 3D printing drives the demand for CAM software. Additionally, the development of smart packaging software solutions is anticipated to fuel the market. It helps to streamline the communication in packaging and automotive industries. Moreover, increasing need for product visualization and rapid prototyping in different sectors such as manufacturing and packaging are expected to provide significant opportunities for growth of the CAM software market. However, stringent rules and regulations by governments hamper the growth of the market.

The global CAM software market can be categorized based on model, enterprise size, industry vertical, and geography. Based on model, the market can be segmented into 3D model and 2D model. Based on enterprise size, the global CAM software market can be classified into small-medium enterprises and large enterprises. Large enterprises are estimated to account for the highest market share in 2018 due to the early adoption of CAM software. However, adoption in small-medium enterprises is projected to grow at the highest CAGR due to rise in focus of key players in the CAM software market to offer customized services to small-medium enterprises. In terms of industry vertical, the market can be divided into BFSI (Banking, Financial Services and Insurance), government, IT and telecom, healthcare, logistics, education, retail, media and entertainment, packaging, manufacturing, energy and utility, and others (travel and hospitality, legal, construction etc.). The packaging industry is expected to expand at a high rate as packaging machines have adopted CAM software to complete various phases of the packaging process such as filling, strapping, wrapping, and labeling. Moreover, CAM software helps to increase productivity and reduces the overall cost per package.

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Geographically, the global CAM software market can be segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America is anticipated to dominate the global CAM software market during the forecast period due to strong presence of distributors and resellers to sell CAM software in the region. The CAM software market in Europe is gaining substantial traction due to growth in the manufacturing industry. The market in Asia Pacific is expected to expand at the highest rate during the estimated period due to increase in industrialization and developments in IT infrastructure.