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The industrial design market share is expected to increase by USD 12.51 billion from 2021 to 2026, at a CAGR of 4.72%.
This industrial design market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers industrial design market segmentation by product type (product design, model design and fabrication, and other industrial design) and geography (APAC, North America, Europe, South America, and MEA). The industrial design market report also offers information on several market vendors, including Ammunition LLC, Bresslergroup, Designworks, IDEO LP, Karten Design, PDD Group Ltd., RKS DESIGN INC., Seymour Powell Ltd., TEAGUE, and WHIPSAW INC. among others.
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"Owing to the presence of the two of the world's most populated countries in APAC (China and India), the share of the industrial design market of the region is expected to increase."
The increasing demand for computer-aided design (CAD) for manufacturing products is notably driving the industrial design market growth, although factors such as the availability of open-source and free industrial design platforms 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 industrial design industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Industrial Design Market Driver
The increasing demand for computer-aided designs (CAD) for manufacturing products is one of the key factors boosting the industrial design market growth. CAD simplifies the design and production process and also increases the efficiency of the designer or engineer. The use of CAD is done in drawing, editing, and analyzing the object. CAD is extensively preferred in various major industrial design markets such as manufacturing, aerospace, electronics, and automobiles for designing prototypes, integral parts, or products as a whole. The increasing implementation of CAD software in the value chain of various industries is significantly driving the global industrial design market size growth.
Key Industrial Design Market Challenge
One of the significant challenges for industrial design market growth is the availability of free and open-source design platforms. The rising popularity of free industrial design solutions and architectural rending softwares have several advantages associated with them. These open-source solutions also provide an easy user interface and cost-efficiency for a number of architectural and design firms, thus hampering the growth of the global industrial design market.
This industrial 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.
The parent global specialized consumer services market covers revenue generated by the consumer service providers, including residential services, home security services, legal services, personal services, renovation and industrial design, consumer auction services, wedding services, and funeral services. Technavio calculates the global specialized consumer services market size based on revenue generated by various specialized consumer service providers such as residential service, home security service, legal service, personal service, renovation and interior design services, consumer auction service, wedding service, and funeral service providers. The report excludes consumer services classified under casino and gaming; hotel, resorts, and cruise lines; leisure facilities; restaurants; and education services category.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the industrial design market encompasses successful business strategies deployed by the key vendors. The industrial design market is fragmented and the vendors are deploying organic and inorganic growth strategies 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 industrial 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.
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31% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for the industrial design market in APAC. Market growth in this region will be slower than the growth of the market in the rest of the regions.
The increasing investment in construction, defense, automotive, and manufacturing industries by the public sectors and private enterprises will facilitate the industrial design market growth in APAC 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.
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The industrial design market share growth by the product design segment will be significant during the forecast period. Product designers in the industry focus on the physical appearance, functionality, and manufacturability of the products. The key agenda of the manufacturers is to speed up the production process efficiently and reduce waste and energy consumption simultaneously using industrial design software. The players in the manufacturing industry observe many new advances in processes and software for product designing. Therefore, the increasing demand along with development in technology in industrial design will positively influence the market segment growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial design market size and actionable market insights on post COVID-19 impact on each segment.
Interior Design Services market - The market report is a comprehensive research document that provides in-depth qualitative and quantitative intelligence. Technavio's analysts estimate a market share growth of USD 34029.03 million from 2022 to 2027, at a CAGR of 5.16%.
Generative Design market - The 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%.
Eastern Europe 3D Computer-aided Design (CAD) market - The market share has the potential to grow by USD 209.62 million during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 5.90%.
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Industrial Design Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 4.72% |
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Market growth 2022-2026 |
$ 12.51 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
5.23 |
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Regional analysis |
APAC, North America, Europe, South America, and MEA |
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Performing market contribution |
APAC at 31% |
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Key consumer countries |
US, China, Germany, Japan, and India |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Ammunition LLC, Bresslergroup, Designworks, IDEO LP, Karten Design, PDD Group Ltd., RKS DESIGN INC., Seymour Powell Ltd., TEAGUE, and WHIPSAW INC. |
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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 the forecast period |
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Customization purview |
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product type
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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