Increasing Adoption of Industrialization Process in Asia-Pacific to Spur Demand
Among the regions, Asia-Pacific is likely to remain dominant and register high global computer-aided manufacturing (CAM) market revenue. This is ascribable to the high adoption of the industrialization process in the region.
Additionally, increasing adoption of CAM solutions in several industries in Asia-Pacific will bode well for market growth. The market in North America is likely to foresee substantial growth during the forecast period. This is attributable to factors such as the increasing adoption of CAM solutions in the packaging industry.
Furthermore, the increasing adoption of technology such as the Industrial Internet of Things (IoT) in North America will contribute to the growth of the market between 2019 and 2026.
The global computer-aided manufacturing (CAM) market size is expected to foresee promising growth increasing application in several industrialization processes and high adoption of cloud-based services. Fortune Business Insights, publishes this information, in its latest research.
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Computer-aided manufacturing (CAM) is a technological process that applies software along with computer-enabled machinery to automate the complete manufacturing process. Additionally, it is adopted in several industries to pace up operational activities.
For instance, it is widely adopted in pharmaceutical and chemical manufacturing companies to assist in specifying total volumes of raw materials during the chemical process.
Furthermore, it provides an array of benefits such as reducing machine wear, minimizing the cycle time of the manufacturing process, expediting machine tool paths, and assisting the manufacturers in improving the accuracy of cutting tools.
What does the Research Include?
The market research includes a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Furthermore, the research provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period.
Moreover, the research includes information sourced from the advice of expert professionals from the industry by our research analyst using several research methodologies for the market. The competitive landscape offers further detailed insights into the strategies such as product launches, partnerships, mergers and acquisitions, and collaborations adopted by the companies to maintain market strongholds between 2019 and 2026.
Product Innovation Amid COVID-19 to Bolster Growth
The market research observes that several-innovation in products to facilitate automation will drive the growth of the market during the forecast period. For instance, in March 2020, Universiti Teknologi MARA (UiTM), Malaysia had its faculty of mechanical engineering take proactive steps to produce a large quantity of face shields frame for hospital front liners fighting the global pandemic, COVID-19.
The team commenced with designing, simulating analysis, and fabricating the plastic injection mould aided by CAM technology. Furthermore, increasing demand for cloud-based services is anticipated to drive the market growth in the forthcoming years.
Merger and Acquisition by the Companies to Surge Demand
In March 2020, Align Technology announced its plan to acquire Exocad Global Holdings, a private German-based company. The acquisition is expected to be around $419 Million will enable the company to gain a stronghold in the dental CAM market.
Exocad is a pioneer in selling dentistry-related software for CAM to over 150 countries across the globe and has over 35,000 licenses purchased by consumers for its software. Joe Hogan, CEO of Align, said “Dentistry has evolved digitally with advancement in technology and increased consumer awareness presents novel opportunities in the ortho-restorative treatment.”
