Global 3D Modeling Software market will reach 43800 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/9/11

Threat of New Entrants
This factor analyzes the ease with which firms may enter an industry. Competitive industries are likely to attract many firms which will strive to capture a market share. This is likely to reduce the overall profitability of firms which are present in the industry. In order for firms to enjoy long term profitability, they should develop customer loyalty within their industry. This will ensure that although new firms enter an industry, their market share is unaffected since customers have faith on their products. Development of customer loyalty is achieved through innovating new products which meet the unique market needs.

The software industry has limited barriers to entry, and the availability of computing power with continually expanding performance at progressively lower prices contributes to the ease of market entry. The industry is presently undergoing a platform shift from the personal computer to cloud and mobile computing. This shift further lowers barriers to entry and poses a disruptive challenge to established software companies.

In 2018, the global 3D Modeling Software market size was 24200 million US$ and it is expected to reach 43800 million US$ by the end of 2025, with a CAGR of 8.8% during 2019-2025.

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