Generative Design Market Size to Reach US$ 559.9 Million by 2028 | Industry CAGR of 17.25%
According to the latest report by IMARC Group, titled, “Generative Design Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global generative design market size reached US$ 220.8 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 559.9 Million by 2028, exhibiting a growth rate (CAGR) of 17.25% during 2023-2028.
Generative design refers to a computerized design methodology that uses algorithms to generate and evaluate multiple design solutions. It assists in specifying design constraints and objectives and allows the computer to explore and generate potential solutions that meet those criteria. It also helps in faster design cycles, more innovative solutions, and reduced design time and cost. It is useful for complex design problems that have multiple constraints or require optimization across multiple parameters. It is also employed in a wide range of fields, including architecture, engineering, and manufacturing, across the globe.
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Generative Design Market Trends and Drivers:
The development of high-performance computing technology and the increasing complexity of algorithms and models represent one of the key factors positively influencing the market. In addition, the integration of generative design with other technologies, such as 3D printing, artificial intelligence (AI), and virtual reality (VR), for expanding its capabilities and potential applications in various industries including architecture, automotive, aerospace, and consumer goods is strengthening the growth of the market. Apart from this, designers are focusing on introducing more design options and testing new ideas, which, in turn, lead to more innovative and creative solutions and provide companies with a competitive edge. Furthermore, the growing popularity of drones is catalyzing the usage of generative design software for improving their aerodynamic efficiency and durability, which is stimulating the market growth.
Generative Design Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- 3Dnatives
- Altair Engineering Inc.
- Ansys Inc.
- Autodesk Inc.
- Bentley Systems Incorporated
- Dassault Systèmes SE
- Desktop Metal Inc.
- Diabatix
- MSC Software Corporation (Hexagon AB)
- Ntopology Inc.
- Proto3000 Inc.
- Ptc Inc.
The report has segmented the market based on component, deployment model, application and industry vertical.
Breakup by Component:
- Software
- Services
Breakup by Deployment Model:
- On-premises
- Cloud-based
Breakup by Application:
- Product Design and Development
- Cost Optimization
- Others
Breakup by Industry Vertical:
- Automotive
- Aerospace and Defense
- Industrial Manufacturing
- Architecture and Construction
- Others
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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