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Market Scenario:
According to Market Research Future (MRFR), the global technical illustration software market is expected to reach USD 3.89 billion with a CAGR of 4.6% from 2019 to 2025 (forecast period). The report provides a precise evaluation of the global situation, the economic situation, and the COVID-19 analysis of the overall industry.
COVID-19 Analysis:
The business impact of SARS-CoV-2 has been felt across diverse sections of the information technology industry, albeit at different levels. Companies in the technology sector that supply services for verticals like travel, retail, hospitality, and entertainment have noted a dramatic decrease in sales, while the firms that provide services related to remote worker solutions have observed the opposite. Technical Illustration Software Market ’s fate post pandemic has been relatively less grim compared to Education Services (ES) and Professional Services (PS) that are mostly dependent on components that are generally on-site. Novel coronavirus has Technical Illustration Software Market to open new avenues for those firms that are on the lookout for solutions that are reliable, efficiently managed, scalable, and are subscription-based, to remain more focused on the core business. The Technical Illustration Software Market is bearing lesser impact of the COVID-19 outbreak compared to most other segments of the tech world.
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Competitive Outlook:
Notable players in the global technical illustration software market are Adobe Systems (US), Lattice Technology (Japan), Autodesk (US), Illustration Limited (UK), QuadriSpace (US), SAP SE (Germany), PTC (US), Dassault Systems (France), Corel (Canada), The Technical Drawing Company (US), MAA Illustrations (India), Cyient (India), Canvas GFX (US), Ignite Technologies, Inc. (US) and Nbg Drafting & Design (US).
Segmentation:
The global market for technical illustration software has been segmented based on component, organization size, and end-user.
Based on components, the global technical illustration software market has been segmented into solution and service. The service segment is further split into professional services and managed services. Professional services comprise integration services, support, and maintenance services, as well as training services. Managed services are technical designing services provided by third-party providers. The solution segment held the largest share in the overall industry in 2018. Enterprises are deploying such solutions for achieving technical design precision.
By organization size, the global technical illustration software market has been segmented into small and medium enterprises and large enterprises. The small and medium enterprise segment is set to register the higher CAGR during the forecast period, 2019–2025
By end-users, the global technical illustration software market has been segmented into IT & telecommunication, healthcare, aerospace & defense, energy & utility, automotive, and others. The aerospace & defense segment is projected to post the highest CAGR during the forecast period.
Regional Analysis:
Region-wise, the global technical illustration software market has been segmented into the Asia Pacific, North America, Europe, the Middle East & Africa, and South America.
North America is leading the market in terms of market share in the global market for technical illustration software. Some of the factors responsible for the market's growth include the continued demand for comprehensive technical illustration software solutions by companies operating in healthcare, manufacturing, and aerospace & defense verticals. The emergence of many software providers in the market is another factor that greatly contributed to the North American market's growth in 2018. North America has been segmented into the United States, Canada, and Mexico. According to the MRFR report, the US is projected to have the largest market share, followed by Canada and Mexico. The market for technical illustration software in this region is estimated to rise due to the growing demand for such solutions among the various industry verticals.
Europe took the second spot in the market. For this study, Europe has been divided into the United Kingdom, Germany, France, Italy, and Europe. Among these, the UK held the largest share of the overall market. However, the rest of Europe is predicted to report the highest CAGR in the forecast period.
Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
Continued….
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List of Tables
TABLE 1 LIST OF ASSUMPTIONS
TABLE 2 GLOBAL TECHNICAL ILLUSTRATION SOFTWARE MARKET, BY COMPONENT, 2020–2027 (USD MILLION)
TABLE 3 GLOBAL TECHNICAL ILLUSTRATION SOFTWARE MARKET, BY ORGANIZATION SIZE, 2020–2027 (USD MILLION)
Continued…
List of Figures
FIGURE 1 MARKET SYNOPSIS
FIGURE 2 RESEARCH PROCESS OF MRFR
FIGURE 3 TOP DOWN & BOTTOM-UP APPROACH
Continued…
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