Global generative design market stood at $ 137 million in 2018 and is projected to grow to $ 290 million by 2024
NEW YORK, May 13, 2019 /PRNewswire/ -- Global Generative Design Market By Component (Solution & Services), By Deployment Mode (Cloud & On-premise), By Application (Production Design & Development and Cost Optimization), By Vertical, By Region, Competition, Forecast & Opportunities, 2024
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Global generative design market stood at $ 137 million in 2018 and is projected to grow to $ 290 million by 2024, exhibiting a CAGR of over 13% during the forecast period, owing to increasing demand for environment friendly architecture and enhanced production efficiency.Generative design is a design process in which a program generates a certain number of outputs based on number of constraints.
Designers or engineers can enter basic parameters such as weight, strength, height and material option, enabling them to offer a myriad number of design options for clients.Innovative advancements such as 3D printing, machine learning and big data are expected to positively affect the growth of the market.
Moreover, generative design software helps to solve engineering problems and offers innovative design solutions, which is likely to fuel global generative design market through 2024.
Generative design market can be segmented based on component, deployment mode, application, vertical and region.Based on the component, the market can be bifurcated into solution and services.
Solution segment dominated the market in 2018, as it helps to reduce manufacturing time and cut costs of operations.Based on the deployment mode, the market can be segmented into cloud and on-premise.
On-premise segment accounted for the largest market share in 2018, as it offers flexibility of customizing software as per the requirements of the organization.On the basis of vertical, the market can be segmented into automotive, aerospace & defense, industrial manufacturing and others.
Automotive sector accounts for the largest share in global generative design market, owing to high demand for advanced design software for reducing production and material costs.
Generative design is gaining traction and expanding to various regions including Asia-Pacific, North America, Europe, South America and the Middle East & Africa. In 2018, North America dominated global generative design market, on the back of adoption of advanced technologies and presence of leading players in the market.
Major players operating in global generative design market include Autodesk, Inc., Desktop Metal, Inc., Ntopology Inc., Altair Engineering Inc., Dassault Systèmes SE, Bentley Systems, Ansys, MSC Software, ESI Group, etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. In 2019, Autodesk collaborated with HP and GE to design generative design software tools, which are compatible with 3D printers.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the Study:
• To analyze and forecast global generative design market size.
• To classify and forecast global generative design market based on component, deployment mode, application, vertical and regional distribution.
• To identify drivers and challenges for global generative design market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global generative design market.
• To conduct the pricing analysis for global generative design market.
• To identify and analyze the profile of leading players operating in global generative design market.
Some of the leading players in global generative design market include Autodesk, Inc., Desktop Metal, Inc., Ntopology Inc., Altair Engineering Inc., Dassault Systèmes SE, Bentley Systems, Ansys, MSC Software, ESI Group, etc.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of service providers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the service providers which could not be identified due to the limitations of secondary research. The analyst analyzed the service offerings, distribution channels and presence of all major service providers across the globe.
The analyst calculated global generative design market size using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Generative design service providers and end users
• Research organizations and consulting companies
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to generative design
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as service providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global generative design market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, by Component:
o Solution
o Services
• Market, by Deployment Mode:
o On-premise
o Cloud
• Market, by Application:
o Production Design & Development
o Cost Optimization
• Market, by Vertical:
o Automotive
o Aerospace and Defense
o Industrial Manufacturing
o Others
• Market, by Region:
o North America
United States
Canada
Mexico
o Europe
Germany
France
United Kingdom
Italy
Spain
o Asia-Pacific
China
Japan
South Korea
India
Australia
o Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
o South America
Brazil
Argentina
Colombia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global generative design market.
Available Customizations:
With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
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