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ABSTRACT Product data exchange among different CAD/CAM/CAE systems or even animation and documentation software are of great importance to computer-integrated manufacturing CIM. This sharing of product data is also a key to successful deployment of concurrent engineering. Furthermore, this practice mainly contributes in reducing lead-time of product development. Due to the large variety of CAD systems in the market, design data exchange among different CAD systems is indispensable. Currently, data exchange standards such as IGES and STEP provide a unique approach for interfacing among different CAD platforms. This paper reviews the development in IGES and STEP by categorizing their topics of researches, key players and years of publications ranging from 2000 to 2009 access from well known databases namely SCOPUS, Sciencedirect and Emerald. Comparisons between them in respects of structures, advantages and disadvantages are discussed together. Among all neutral files available in the market, IGES and STEP are chosen because of two reasons. First, they are standards developed by standard bodies, ANSI and ISO. Second, both are extensively applied and most popular in product data exchange among heterogeneous CAD systems.