CAM Market Grew by 4.1% in 2023
ANN ARBOR, Michigan, 18 June 2024—CIMdata, Inc., the leading global PLM strategic management consulting and research firm, announces the release of the 2024 CIMdata CAM Market Analysis Report (MAR), the 32nd annual study of the global Computer-Aided Machining (CAM) market. CIMdata estimates that based on end-user payments, the worldwide CAM software and related services market grew by 4.1% in the calendar year 2023. The estimated end-user payments grew from nearly $2.6 billion in 2022 to just over $2.7 billion in 2023.
According to Stan Przybylinski, CIMdata’s Vice President, “The CAM results at the end-user level grew more slowly in 2023 than in 2022. In 2023 machine tool consumption stalled after a down year in 2022. This is important because acquiring new machine tools often leads to investments in new CAM software.” CIMdata projects that in 2024 the CAM market, and the entire PLM Economy, will continue to grow. CIMdata estimates end-user payments for CAM software will increase by 6.4% to just under $2.9 billion.
Since 2002, the CAM software market has shown modest but steady growth as global economies generally improved. There has been worldwide growth in the sale of machine tools and manufacturing output; greater emphasis has been placed on the efficient operation of machine tools as manufacturing firms have strengthened their competitive positions; and the overall PLM (Product Lifecycle Management) market, of which CAM software is a component, has continued on a strong growth path during this period. CAM software purchases are related to all of these factors—particularly machine tool sales.
The size and growth of the CAM software and related services market based on end-user payments is shown in the chart below. It can also be seen that approximately one-third of the end-user payments are reseller revenues and approximately two-thirds of the payments are made directly to software suppliers.
CAM Market Revenue History and Projection
The 2024 version of the CAM MAR is a 99-page report containing 22 charts and 39 tables of data detailing the worldwide CAM market along a number of dimensions. It also includes a discussion of trends in the CAM industry and updates on the top CAM solution providers. The 2024 CIMdata CAM Market Analysis Report is available for purchase at: https://www.cimdata.com/en/online-store/market-analysis-reports/product/327-2024-cam-market-analysis-report.
