Industrial Design Market Analysis APAC, North America, Europe, South America, Middle East and Africa - US, China, Germany, Japan, India - Size and Forecast 2024-2028

Industrial Design Market Size 2024-2028

The industrial design market size is forecast to increase by USD 14.17 billion at a CAGR of 5.1% between 2023 and 2028.

• The market is experiencing significant growth, driven by the increasing adoption of advanced technologies such as computer-aided design (CAD) for manufacturing products. End-users are progressively transitioning to 4D CAD, which allows for the visualization of product development over time. Additionally, the availability of open-source and free industrial design platforms is contributing to the market's expansion.
• Another key trend is the integration of Internet of Things (IoT) technology into machinery and equipment, enabling smart manufacturing and improved product performance. In the realm of product design, there is a growing emphasis on green engineering, which focuses on reducing the environmental impact of products through sustainable design practices. In healthcare devices, there is a heightened demand for ergonomic and user-friendly designs to enhance patient experience and outcomes. Overall, these trends are shaping the market and driving innovation in various industries.

What will be the Size of the Market During the Forecast Period?

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• The market encompasses a diverse range of disciplines, including product design, equipment design, and machinery design. This sector plays a crucial role in the development of various industries, from healthcare and consumer electronics to transportation and machinery manufacturing. Product design refers to the process of creating new products to be manufactured or produced. Industrial designers work closely with clients to understand their needs and create innovative solutions. They consider factors such as functionality, aesthetics, and user experience to develop products that meet market demands. Equipment design involves the creation of machinery and industrial equipment.
• Moreover, designers in this field focus on ensuring the equipment is efficient, safe, and easy to use. They also consider the environmental impact of the equipment, incorporating principles of green engineering to reduce waste and minimize energy consumption. Machinery and equipment design in the industrial sector is increasingly integrating IoT technology to enhance functionality and improve operational efficiency. IoT-enabled solutions provide real-time data and analytics, enabling predictive maintenance and optimized performance. The healthcare sector is a significant contributor to the market, with a focus on designing medical devices and customized procedure trays. Designers in this field prioritize user experience, ensuring devices are intuitive and easy to use for both healthcare professionals and patients.
• Further, portable designs are also popular, allowing for greater mobility and flexibility in healthcare settings. Consumer electronics and household applications are other key areas of growth in the market. Designers in these fields focus on creating user-friendly interfaces and sleek designs to appeal to consumers. UX/UI design and graphic design are essential disciplines in this field, ensuring a seamless user experience and visually appealing designs. The transportation sector is another major player in the market, with a focus on model design and architectural planning. Designers in this field prioritize safety, functionality, and aesthetics, creating vehicles and transportation infrastructure that meet the needs of consumers and businesses.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Product
  • Product design
  • Model design and fabrication
  • Others
• Geography
  • APAC
    • China
    • India
    • Japan
  • North America
    • US
  • Europe
    • Germany
  • South America
  • Middle East and Africa

By Product Insights

• The product design segment is estimated to witness significant growth during the forecast period.

Industrial product design plays a crucial role in manufacturing by focusing on a product's aesthetics, functionality, and manufacturability. Manufacturers employ industrial design tools to create precise prototypes of their intended products, ensuring they align with the planned dimensions and specifications. The primary objective is to streamline production processes, enhance operational efficiency, and minimize waste, all while reducing energy consumption through advanced industrial design software.

In the manufacturing sector, there is a growing trend towards the implementation of advanced technologies. Autonomous robots, augmented reality, additive manufacturing, Big Data and analytics, simulation platforms, industrial application integration (both horizontal and vertical), Industrial Internet of Things (IIoT), cybersecurity systems, cloud computing, and cognitive computing are increasingly being adopted. These technologies aim to revolutionize the manufacturing industry by improving production processes, increasing efficiency, and reducing energy consumption. Manufacturers are continually seeking innovative ways to stay competitive in the market, and the integration of these advanced technologies into industrial design is a significant step towards achieving this goal.

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The product design segment was valued at USD 17.90 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

• APAC is estimated to contribute 46% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in the Asia Pacific (APAC) region is experiencing substantial growth due to investments from both public and private sectors in industries such as construction, defense, automotive, and manufacturing. With two of the world's most populated countries, China and India, located in APAC, the region's market share is projected to expand. Additionally, the outsourcing of engineering and manufacturing design processes to APAC is boosting the market's potential. Furthermore, the rapid growth in sectors like automotive, consumer electronics, medical and healthcare, and others is significantly fueling the expansion of the market in the region. Urbanization and rising household incomes in countries such as India, China, Vietnam, and Indonesia have heightened awareness of the benefits of architectural industrial design, leading to increased demand for related software from urban residential developers.

In the transportation sector, model design and user interface design play crucial roles in enhancing the user experience and ensuring safety and efficiency. In the household application sector, industrial design is essential for creating ergonomic and functional products. Machinery and equipment in the manufacturing industry benefit from industrial design for improved efficiency and productivity. In the electronic sector, consumer goods, in particular, require industrial design to stand out in a competitive market. In conclusion, the market in APAC is poised for significant growth due to various factors, including population growth, urbanization, and industrial expansion. The market's potential is further enhanced by the outsourcing of design processes and the increasing demand for industrial design in various sectors.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in adoption of Industrial Design Market ?

Increasing demand for computer-aided design (CAD) for manufacturing products is the key driver of the market.

• Industrial design encompasses various disciplines, including IoT-enabled solutions, graphic design, UX/UI design, architectural planning, and creative solutions. CAD (Computer-Aided Design) plays a pivotal role in this process. CAD software enables designers and engineers to create intricate diagrams of a product's interior and exterior in the initial stages of design and production.
• Further, this technology simplifies the process by allowing for the sketching of 2D and 3D layouts, defining physical attributes, functionality, dimensions, materials, tolerances, and final appearance. CAD increases productivity, saving valuable time that can be allocated to other tasks. This technology is extensively utilized in industries such as healthcare design, electronics, manufacturing, aerospace, and automobiles for designing product prototypes and their individual components or the complete product. CAD's efficiency and accuracy make it an indispensable tool for professionals in these fields.

What are the market trends shaping the Industrial Design Market?

End-users gradually shifting to 4D CAD is the upcoming trend in the market.

• The market is witnessing a transition from 3D to 4D Computer-Aided Design (CAD) models, as end-users seek more advanced solutions. This shift is driven by the increasing global competition among CAD solution providers, necessitating product differentiation. To stay competitive, companies are incorporating additional features and functionalities into their offerings, such as interaction design for consumer electronics, transportation design for machinery, and healthcare applications.
• Further, these enhancements aim to improve user experience and operational efficiency. In the Architecture, Engineering, and Construction (AEC) sector, 4D simulations offer significant potential, streamlining both pre-construction planning and construction phases. By facilitating resource management and project schedule adherence, 4D CAD solutions are revolutionizing the industry.

What challenges does Industrial Design Market face during the growth?

The availability of open-source and free industrial design platform is a key challenge affecting the market growth.

• In the realm of industrial design, particularly in the medical device sector, Digital transformation is a key trend driving innovation. The integration of technologies such as the Internet of Things (IoT), artificial intelligence (AI), augmented reality (AR), and virtual reality (VR) is revolutionizing design processes.
• However, the rise of in-house design teams and the availability of free, open-source industrial design software, like V-Ray, Autodesk Revit, Lumion, Octane Render, and Cinema 4D, may pose a challenge to market companies. These cost-effective solutions offer advantages such as accessibility and user-friendliness, potentially impacting the adoption of new industrial design software. This trend could influence the growth trajectory of the market in the forecast period.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Advanta Design Group Inc.
• Ammunition LLC
• Astronics Corp.
• Beyonddesign Inc.
• Bresslergroup
• Concepto Studios Inc.
• Designworks
• Fahrenheit Design LLC
• Fig40
• Gibson Product Design
• IDEO LP
• Karten Design
• PDD Group Ltd.
• RKS DESIGN INC.
• RSW GbR
• Seymour Powell Ltd.
• Shanghai Bonaudi Cultural Communication Co. Ltd.
• tangerine ltd
• TEAGUE
• WHIPSAW INC.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

The market encompasses a wide range of disciplines, including product design and equipment design, that cater to various industries such as machinery and equipment, healthcare devices, consumer electronics, and transportation sector. Industrial designers employ green engineering principles to create eco-friendly designs, while integrating IoT technology into machinery and equipment for enhanced functionality. Product design focuses on creating innovative and user-friendly consumer goods, while equipment design caters to the needs of industrial applications.

In the healthcare sector, industrial design services are essential for creating customized procedure trays, portable designs, and medical device designs that prioritize user experience and safety. The digital transformation of industries has led to an increased demand for IoT-enabled solutions, artificial intelligence, augmented reality, and virtual reality in industrial design. Design disciplines such as graphic design, UX/UI design, architectural planning, and creative solutions are integral to the design process. In-house design teams collaborate with clients to develop interaction design, transportation design, and user-centered designs that cater to diverse industries and applications.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across APAC, North America, Europe, South America, and Middle East and Africa
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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