The report of generative design market by component (software, services), application (Product Design & Development, Cost Optimization), deployment model (on-premises, cloud), industry vertical (automotive, aerospace & defense, industrial manufacturing, building, architecture & construction and others) and region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) is expected to reach US$ 319.3Mn by 2026, at a CAGR of 17.43% during a forecast period.
Generative design creates thousands of possible solutions for a product based on criteria and goals set by the designer and produces geometries and forms that would usually take a human days, if not months, to develop manually. When collective with modern manufacturing processes, we’re also able to create products with structures that would never have been possible, even a few years ago. This process ensures the designer or engineer is picking the one design that meets the most significant goals of their specific design. Increasing need for advanced design software to drive product innovation, growing demand for environment-friendly architecture, and enhanced production efficiency are anticipated to the drive market during the forecast period.
The product design & development application segment is leading the global generative design market.
The product design & development application segment is expected to lead the market throughout the forecast period. With the arrival of AI, generative design has gained popularity among engineers and architects as it provides thousands of design suggestions guided by a number of constraints such as weight, load, cost, and material. Designers and engineers can filter done these suggestions and opt for the best-suited outcomes. Generative design finds main application in product design & development, helping companies achieve lower part-consolidation costs, improve product strength, and simplify supply chains.
North America has the largest market share for global generative design market during the forecast period.
North America is dominating the global generative design market because of presence of a large number of solution vendors in the US. Only developed countries and China have any significant number of users of the technology, and this will remain the case for the foreseeable future simply since developing nations still rely on cheaper labour and manual processes more than software and automation.
Key players operating in global generative design market, Altair , Bentley Systems , Autodesk , Ansys , Desktop Metal , Dassault Systèmes , MSC Software , ESI Group , Ntopology , Paramatters.
Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the global generative design market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global generative design market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global generative design market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Generative Design Market”
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