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Technical Illustration Software Market

Technical Illustration Software Market to Reach US$ 4,935.7 Mn by 2026
The global technical illustration software market was valued at US$ 3,275.0 Mn in
2017 and is expected to expand at a CAGR of 4.7% from 2018 to 2026, according to
a new report published by Transparency Market Research (TMR) titled “Technical
Illustration Software market– Global Industry Analysis, Size, Share, Growth, Trends,
and Forecast, 2018–2026.” North America is expected to hold the dominant revenue
share in the market with the region expanding at a CAGR of above 4.4%. The global
technical illustration software market is largely driven by strong demand from
manufacturing and automotive industry.
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Growing adoption of cloud based deployment models, and strong demand for
technical illustration software solutions from manufacturing and automotive industry
driving the market
Technical illustration software is largely used by designers and illustrators to design
products before prototyping it. Technical illustration software is mainly part of
product lifecycle management (PLM) software; however, it is also available in the
market as a standalone solution. This illustration software is easy to use and contains
several tools and features that might be helpful to the illustrators. The technical
illustration software market is largely driven by continuous demand from the
manufacturing end-use segment as well as from automotive end-use segment. Each
year, a considerable number of new products are being developed. These products
range from device design to cloth design. Technical illustration software is required
for all these projects. The software provides a clear picture about the product’s
technicality before it is rolled out for prototyping. Automotive end-user is also a
strong driver for the market. As per TMR analysis, in 2017, the global automotive
end-user segment accounted for more than 20% of the total market. New automobile
design projects initiated by various automobile vendors during last the 1-2 years has
given an impetus to the technical Illustration software market. Apart from automotive
and manufacturing, third party technical illustration service providers are also
actively using illustration software in order to efficiently deliver design and
illustration services to clients.
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Deployment of cloud-based technical illustration software on the rise across all enduser segments
Technical illustration software solutions can be deployed on premise as well as on
cloud. Currently, on premise software solution occupies the largest share in the
overall market. However, according to TMR, cloud based deployment model is
expected to strongly grow in the coming years. The reason for this is the growing
need to have flexibility to access product designs from anywhere, Furthermore,
comparatively lower cost is another major factor responsible for the strong
deployment of cloud based technical illustration software.
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