The global CNC software market was valued at USD 2.80 Billion and is expected to grow at a CAGR of 2.8% between 2021 and 2026.
The system operated by a programmable set of instructions through software embedded in a microcomputer attached to the tool is referred to as computer numerical control. The machine primarily operates on a three-axis and five-axis system, with the ability to adjust the operation capabilities on each axis as required.
The growth of the global industrial sector, coupled with an increase in demand for automated systems, acts as a catalyst for the CNC software industry. The use of CNC software in modern manufacturing is motivated by a desire to reduce production lead times while minimizing the possibility of error. The CNC implementation is also heavily supporting the mass manufacturing requirement of industrial goods, with the potential reduction in downtime errors.
Furthermore, the ability of the workstation to conduct a variety of operations, such as milling, drilling, and welding, is a driving force behind the growth of the CNC software industry. The high initial investment required to incorporate computer numerical control is a major stumbling block for the global CNC software industry. Even, in the event of a failure, the need for a highly skilled specialist is a significant impediment to the industry's adoption of CNC applications.
The CNC Software Market is segmented by Product Type (CAM Software, CAD Software, CAE Software), by Application (Drills, Boring Tools, Lathes, Others). The market is further analyzed on the basis of regional analysis and divided into major regions like North-America, Latin America, Asia-Pacific, Europe and MEA.
Further Key Findings From The Report Suggest
- North America and Europe are major contributors to the global CNC application market. These two regions will continue to benefit from their strong manufacturing infrastructure and appealing investment prospects.
- The National Institute for Metalworking Skills (NIMS) announced in September 2019 that standardized CAM Milling, Computer-Aided Manufacturing (CAM), and Turning credentials would be introduced.
- Government initiatives like the Make in India initiative in India and the Made in China 2025 initiative in China encourage the establishment of manufacturing units in their respective countries.
Key Participants like Worknc, UG, Cimatron, Powermill, ProE, 3DS, Cimatron Group, KND, GSK CNC EQUIPMENT.
For this report, Introspective Market Research have segmented the CNC Software market on the basis of Region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2019-2026)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM