NC software market sees growth in 2007
The worldwide NC software and related services market grew by 7.2% in 2007 and is estimated to increase by 7.8% in 2008, marking five consecutive years with a growth rate of 5% or more.
The worldwide NC software and related services market grew by 7.2% in 2007, reaching a level of $1.4 billion, consulting and research firm CIMdata Inc. recently estimated. Results were based on end-user payments. Moreover, CIMdata estimated that the payments will further increase by 7.8% in 2008, reaching a level of $1.5 billion and marking five consecutive years with a growth rate of 5% or more.
In a recession from 2000 through 2003, the market has shown steady growth since. As global economies have improved, sales of machine tools and manufacturing output have grown worldwide. Now greater emphasis is being placed on efficient operation of machine tools, as manufacturing firms must enhance their competitive position, according to representatives of CIMdata.
The overall product lifecycle management market, of which CAM (software to control machine tools cutting parts) is a component, has also shown strong growth. CAM software purchases are directly related to all of these factors.
“Even though the CAM software market is a relatively mature market, it has been active and exciting in the past several years,” said Alan Christman, CIMdata chairman. “Some software vendors have had annual revenue growth rates of over 30% per year.”