Computer Aided Machinery also known as CAM refers to the utilizes computers that help in assisting various manufacturing processes of a manufacturing unit such as storage, planning, storage, transportation, and management. It promotes a faster process of the production process, material consistency and tooling with precise options.. CAM is highly demanded in the sectors such as automobiles, aerospace & defense. Furthermore, growing need of CAM software in packaging machinery, increasing industrialization processes and the increasing adoption of cloud services is bolstering the growth of CAM software market at a rapid pace worldwide.
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Rapid industrialization, growing use of CAM software in packaging machinery and increasing adoption of cloud technologies are the key factors that are driving the growth of CAM market across the globe. Furthermore, it has been observed that increasing industrialization leads to more manufacturing activities and CAM technology is implemented by various business organizations to work in an effective and efficient manner.
The computer-aided manufacturing is being highly adopted in different types of manufacturing market as well as the packaging industries. Computer-aided manufacturing is seeing a lot of advancements in the technology such as XML, cloud computing and quantum computing that has users to increase the portability in designs, easy access to designs through cloud computing and require less infrastructure. Furthermore, growing use of CAM software in packaging machinery increases the demand of CAM software substantially and the introduction of cloud computing makes it more efficient and easily accessible, therefore making the market grow at a rapid pace.
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Geographically, CAM software market in Asia-Pacific is expected to generate the largest revenue by 2024 due to increasing industrialization process in the region and increasing adoption of cloud technology. Furthermore, it has been observed that China and India comprise of key manufacturers in this region as a result to which CAM software market is observing rampant growth in this region during the forecast period.
Key players in CAM software market are performing mergers and acquisitions in order to enhance their product offerings and further enable cost-effective seamless experience to its users. For instance, merger of Siemens and Vistagy Inc. had added several new software packages to provide users with seamless business operations. Furthermore, companies like Autdesk are ready to capitalize their resources in the CAM market. Some of the key players in global CAM market include Siemens AG (Siemens Plm Software, Inc., Bricsys NV, Caxa Technology Co. Ltd., Dassault Systems, Schott Systeme GmbH, PTC Inc., CNC Software Inc. (Mastercam) and ZWCAD Software Co. Ltd.