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Generative Design Market
IMARC Group expects the market to reach US$ 526 Million by 2027, exhibiting at a CAGR of 18.80% during 2022-2027.
SHERIDAN, WYOMING, UNITED STATES, January 31, 2022 /EINPresswire.com / -- According to the latest report by IMARC Group, titled,“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 forward, IMARC Group expects the market to reach US$ 526 Million by 2027, exhibiting at a CAGR of 18.80% during 2022-2027.
Generative design refers to the 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 assists in making highly customized and complex shapes and internal lattices. Additionally, it also supports topology optimization for performing structural functions and removing load-weight from empty areas in three-dimensional (3D) models. As a result, generative design is widely adopted across numerous sectors, such as automotive, aerospace, defense, manufacturing, architecture, etc.
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Market Trends
The growing requirement to manufacture lightweight automotive components is one of the primary factors driving the generative design market. Besides this, the increasing sales of passenger and commercial vehicles, owing to the elevating levels of urbanization and the inflating income levels of consumers, are further catalyzing the market growth. Moreover, the implementation of stringent regulations by government bodies to minimize the ecological footprint of commercial aircraft is augmenting the global market. Apart from this, the rising popularity of drones is expanding the utilization of generative design software to improve the aerodynamic efficiency and durability of unmanned aerial vehicles (UAVs). This, in turn, is acting as another significant growth-inducing factor. Furthermore, the expanding construction industry and the escalating demand for computer-aided designs (CADs) are expected to fuel the generative design market in the coming years.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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.
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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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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Elena Anderson
IMARC Services Private Limited
+1 6317911145
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