Technical Illustration Software Market is expected to reach US$4,935.7 Mn by 2026

The global technical illustration software market is expected to reach US$4,935.7 Mn by 2026, expanding at a CAGR of 4.7% from 2018 to 2026. North America held a prominent share of the technical illustration software market in 2017 and is projected to be at the forefront of global demand. The market in the region is expected to expand at a significant CAGR OF 4.4% during the forecast period, 2018-2026.

Technical illustration software is used for design and illustration purposes. The software helps designers to draw 2D as well as 3D designs. Technical illustration software is a part of Product Lifecycle Management (PLM). Vendors operating in this market either provide standalone illustration software or offer illustration software as a part of CAD and PLM software. Technical illustration software help designers and illustrators to efficiently draw and design products for prototyping purposes.

The technical illustration software market is segmented on the basis of component, technology, and end-user. Based on component, the market is divided into software and services. In 2017, software occupied the largest share in the overall market. Illustration software is easy to use and deploy; therefore, services like support/training and maintenance are usually required with specific software. This in turn means that vendors operating in this market earn revenue largely from software sales or software subscription. The software segment is further bifurcated into on premise and cloud based.

In 2017, on premise technical illustration software occupied the largest share in the market. However, it is expected that during the forecast period, cloud-based deployment model will gain traction among end-users. On the basis of services, the market is categorized into implementation, support & maintenance, and consulting services. In 2017, support & maintenance services occupied the largest share. Some illustration software requires support services, particularly training. Booklets and guide materials are provided by illustration software vendors to help designers and illustrators.

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In terms of technology, the technical illustration software market is categorized into 2D and 3D technology. In 2017, 3D based technology occupied the largest share in the overall market. 3D based technology is expected to continue its dominance during the forecast period as well. The reason for the same is growing demand for 3D based illustration among designers and illustrators across the globe.

Based on end-user, the market is divided into aerospace and defense, healthcare, energy & power, manufacturing, automotive, transportation, and others. The others subsegment includes media and entertainment and third party technical illustration service providers. In 2017, manufacturing and automotive were the largest end-user segments in the technical illustration software market.

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On the basis of region, the market is divided into North America, Europe, AsiaPacific, South America and Middle East & Africa. In 2017, North America was the largest market for technical illustration software. Europe and Asia Pacific are expected to witness significant growth during the forecast period due to new project initiations every year, particularly in the manufacturing and automotive sector. Moreover, many independent illustrators and designers are working as freelancers in these regions, giving a further push to the market.

Major players operating in the global technical illustration software market include Autodesk Inc. Dassault Systemes, PTC Inc., Canvas GFX, Inc., Corel Corporation, Siemens Product Lifecycle Management Software Inc., QuadriSpace Corporation, Auto-Trol Technology Corporation, and Cyient. These players are focusing on acquisitions and new strategic collaborations in order to increase their market share in the global technical illustration software market.

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