Generative Design Market Report 2022-2027: Industry Trends, Share, Size, Analysis and Future Scope
According to the latest report of the IMARC group, entitled “Generative Design Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, the global generative design market reached a value of US$192.8 million in 2021. Looking ahead, IMARC Group expects the market to reach US$526 million by 2027 , with a CAGR of 18.80% in 2022-2027.
Generative design refers to engineering software that autonomously creates high-performance design iterations based on performance, manufacturing techniques, materials, costs, and other parameters. It depends on artificial intelligence (AI) algorithms to generate and evaluate various product designs. Generative design helps create highly customized and complex internal shapes and lattices. In addition, it also supports topology optimization to perform structural functions and remove load weight from void areas in three-dimensional (3D) models. As a result, generative design is widely adopted in many industries, such as automotive, aerospace, defense, manufacturing, architecture, etc.
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The growing requirement to manufacture lightweight automotive components is one of the major factors driving the generative design market. Additionally, increasing sales of passenger vehicles and commercial vehicles, owing to increasing levels of urbanization and inflation in consumer income levels, further catalyzes the growth of the market. Additionally, the implementation of strict regulations by government bodies to minimize the environmental footprint of commercial aircraft is increasing the global market. Apart from this, the growing popularity of drones is expanding the use of generative design software to improve the aerodynamic efficiency and durability of unmanned aerial vehicles (UAVs). This, in turn, acts as another important factor inducing growth. Furthermore, the expansion of the construction industry and the growing demand for computer-aided designs (CAD) are expected to drive the generative design market in the coming years.
To note: We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be included in the report.
The competitive landscape of the industry has also been reviewed along with the profiles of key players.
- 3D natives
- Altair Engineering Inc.
- Ansys Inc.
- Autodesk Inc.
- Bentley Systems Incorporated
- Dassault Systemes SE
- Office Metal Inc.
- MSC Software Corporation (Hexagon AB)
- Ntopology Inc.
- Proto3000 Inc.
- Ptc inc.
Request customization and browse the full report with table of contents and list of figures: https://www.imarcgroup.com/generative-design-market
The report has segmented the market based on component, deployment model, application and vertical.
Breakdown by component:
Breakdown by deployment model:
Breakdown by application:
- Product design and development
- Cost optimization
Breakdown by vertical industry:
- Aeronautics and Defense
- Industrial manufacturing
- Architecture and building
Breakdown by region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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