According to a research report titled ‘Global Technology CAD Software Market Size study by Application Type (CMOS, Image Sensors, Solar Cells, Analog/ RF Sensors) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global technology CAD software market valued at USD 170 million in 2020 is expected to record a CAGR of 9.5% over the forecast period and is anticipated to reach USD 320.88 million by the year 2027.
 

Rising demand from end-user industries such as automotive, defense, industrial, and aerospace, as well as increasing popularity of automated electronics like Implantable & Wearable Medical Devices (IWMD) are driving the global technology CAD software market expansion. In this context, Statista claims that electronic devices users are likely to rise from 1976 million in 2021 to 2725.7 million by 2025.
 

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For the uninitiated, technology CAD (Computer-Aided Design) software is used for designing, analyzing, and modifying the designs of the products. The software used to create these drawings also prevents the company's sensitive blueprints from theft.
 

Increasing use of computer-controlled healthcare equipment, as well as mergers and acquisitions by major contenders are expected to boost market trends throughout the forecast timeframe.
 

However, growing competition between new and existing companies as well as a scarcity of skilled professionals will stifle market expansion between 2021 and 2027.
 

Based on application type, worldwide technology CAD software marketplace is divided into CMOS, solar cells, image sensors, and analog/rf sensors.
 

Regionally, the market spans across North America, Asia pacific, Latin America, Europe, and rest of the World. Out of these, North America is a prominent region in terms of market share at present, due to presence of well-established manufacturing units.
 

Asia Pacific market, on the other hand, is expected to develop at a swift pace between 2021 and 2027, owing to availability of low-cost raw materials and labor, combined with technology improvements.
 

The major players in global technology CAD software market are Dassault Systèmes SE, Cogenda Pte Ltd., Silvaco Inc., Synopsys Inc., Hexagon AB, Bentley Systems Inc., Autodesk Inc., NTT DATA Mathematical Systems Inc., and Crosslight Software Inc.