“India has witnessed a 257% growth in GDP between 2004-05 and 2018-19.”, claims Invest India, a government agency. This directly reflects the growth in the manufacturing industry of the country and all of its subsectors, including automotive and auto components and capital goods. Earlier, models of the goods to be manufactured as well as the production equipment were drawn on paper by hand, which is a long and tiring process. But, with time and the technological revolution sweeping the nation, the usage of computer-aided designing (CAD) is rising here.
This is why PS Intelligence has forecast an 8.2% growth in the Indian CAD software market between 2020 and 2025, whereby the revenue garnered by software vendors will likely rise from $445.6 million in 2019 to $696.9 million by 2025. The software not only allows for the creation of 2D and 3D designs but also for their analysis, modification, and realistic simulation. This is why the usage of CAD is especially high for prototyping and testing purposes, before the design is put into mass production.
Apart from manufacturing, a diverse array of industries in India use CAD software, including engineering, construction, aerospace and defense, architecture, automotive, healthcare, media and entertainment, education, pharmaceuticals, arts, and chemicals. Among these, the usage of the software would likely pick up rapidly in the architecture and construction sectors, on account of the rising infrastructure development activities in the country. As per Invest India, “By 2025, Construction market in India is expected to emerge as the third largest globally.”
Since Maharashtra contributes the most to India’s GDP, specifically 14.3% in 2019, its demand for this software would rise the fastest in the country. The growth of the Indian CAD software market in the state is primarily owed to its productive technology, manufacturing, trade, and finance industries. Additionally, the Maharashtra Industrial Policy 2019 aims to boost infrastructure development in the state. For instance, large portions of the extensive Delhi–Mumbai Industrial Corridor, Delhi-Mumbai Expressway, Mumbai¬–Ahmedabad bullet train line, and Western Dedicated Freight Corridor lie in Maharashtra, all of which are drawing massive infra investments.
Hence, with the growth in varied industries, the demand for CAD software will increase in India.