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.
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.
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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Generative Design 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.
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Altair Engineering Inc.
- Ansys Inc.
- Autodesk Inc.
- Bentley Systems Incorporated
- Dassault Systèmes SE
- Desktop Metal Inc.
- 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:
Breakup by Deployment Model:
Breakup by Application:
- Product Design and Development
- Cost Optimization
Breakup by Industry Vertical:
- Aerospace and Defense
- Industrial Manufacturing
- Architecture and Construction
Breakup by Region:
- North America
- Latin America
- Middle East and Africa
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