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The generative design market share is expected to increase to USD 175.3 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 17.21%.
This generative design market research report extensively covers generative design market segmentation by component (software and service) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The generative design market report also offers information on several market vendors, including 3DVerkstan AB, A2K Technologies, Altair Engineering Inc., AMFG, ANSYS Inc., Autodesk Inc., Bentley Systems Inc., CIDEON Software & Services GmbH & Co. KG, Dassault Systemes, Desktop Metal, Inc., Diabatix, DIGITAL DESIGN SOLUTIONS, GEO - Design Engineering Services INC., Hexagon Manufacturing Intelligence, nTopology Inc., ParaMatters Inc., Simufact Engineering GmbH, Sculpteo, and Siemens AG among others.
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Technavio categorizes the global generative design market as a part of the global application software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the generative design market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the generative design market encompasses successful business strategies deployed by the key vendors. The generative design market is fragmented and the vendors are deploying growth strategies such as technological innovation to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The generative design market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
The availability of trial or free versions of generative design is notably driving the generative design market growth, although factors such as interoperability issues with other software and legacy systems may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the generative design industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Generative Design Market Driver
One of the key factors driving the global generative design market growth is the availability of trial or free versions of generative design by market vendors. These trial or free versions come with limited features to attract new customers and gain higher market shares. Thus, many enterprises, especially SMEs that are keen on expanding their businesses at a low cost, opt for a trial or free version of generative design solutions before investing in it. For instance;
This solution offers enterprises a full set of lattice design tools, which, in turn, enable them to create sets and experiment with complex structures quickly and efficiently. Such factors will drive the concerned market growth during the forecast period.
Key Generative Design Market Trend
Use of artificial intelligence with generative design is one of the key generative design market trends that is expected to impact the industry positively in the forecast period. For instance;
This solution has enabled the engineers at NASA Jet Propulsion Laboratory to generate a concept for a project by inputting a set of parameters that the software must adhere to. Thus, AI with generative design solutions is increasingly being adopted by participants in various industries such as construction and automotive, which will support the market growth in the coming years.
Key Generative Design Market Challenge
One of the key challenges to the global generative design market growth is the interoperability issues with other software and legacy systems. The lack of interoperability makes information sharing between the members difficult and prone to errors. For instance;
Traditionally, this was done with drawings and documents, but new requirements such as 2D or 3D CAD increased the adoption of digital solutions, including building information modeling (BIM) for effective information sharing. With project members using different tools for data collection, design, and analysis, interoperability has become a challenge for generative design vendors in the market. Such factors are expected to limit the market growth during the forecast period.
This generative design market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
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36% of the market's growth will originate from North America during the forecast period. The US is the key market for generative design in North America. Market growth in this region will be faster than the growth of the market in regions.
An increase in the demand for generative design owing to the growth in the construction industry in countries such as theUS will facilitate the generative design market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 adversely affected the business activities and the economy in the region. The COVID-19 pandemic also slowed down the growth of the market in focus in 2020. However, cloud-based software providers have gained substantially from the COVID-19 pandemic, as most IT employees are working from home, which involves managing various business operations. In addition, the number of COVID-19 cases decreased in early 2021 compared to 2020, primarily due to progressing vaccination drives in the region. Such factors are anticipated to support the growth of the generative design market in the region during the forecast period.
Our report provides extensive information on the value chain analysis for the generative design market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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The generative design market share growth by the software segment will be significant during the forecast period. The significant increase in the adoption of generative design software by companies, as it allows them to streamline and automate their daily operations efficiently, reduce errors, and lower their costs, will support the market growth through this segment in the coming years. In addition, the growing demand for cloud-based generative design solutions is encouraging vendors to enter into partnerships with cloud providers, which enables vendors to offer better services.
This report provides an accurate prediction of the contribution of all the segments to the growth of the generative design market size and actionable market insights on post COVID-19 impact on each segment.
Generative Design Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 17.21% |
Market growth 2022-2026 |
$ 175.3 million |
Market structure |
Fragmented |
YoY growth (%) |
16.25 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 36% |
Key consumer countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
3DVerkstan AB, A2K Technologies, Altair Engineering Inc., AMFG , ANSYS Inc., Autodesk Inc., Bentley Systems Inc., CIDEON Software & Services GmbH & Co. KG, Dassault Systemes, Desktop Metal, Inc., Diabatix, DIGITAL DESIGN SOLUTIONS, GEO - Design Engineering Services INC., Hexagon Manufacturing Intelligence, nTopology Inc., ParaMatters Inc., Simufact Engineering GmbH, Sculpteo, and Siemens AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Component
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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