Newark, NJ, Jan. 28, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The global generative design market is expected to grow from USD 90.08 Million in 2017 to USD 397.49 Million by 2025 at a CAGR of 19.79% during the forecast period from 2018-2025
With the use of machine learning and artificial intelligence, generative design enables engineers to create thousands of design options by simply defining their design problem–inputting basic parameters such as height, weight, strength, and material options. It is transforming the way of building design landscape by empowering architects and product designers to design with freedom. Many technologically advanced companies in the world, such as Under Armour, Airbus, and Stanley Black & Decker, are using generative design to solve engineering challenges and come up with design solutions.
Generative design is a design exploration process. Designers input design goals into the software, along with the parameters such as spatial requirements, materials, manufacturing methods, and cost parameters. The generative design software explores all the possible combinations of a solution, quickly generating hundreds or even thousands of design options. Designers and engineers can filter and select the outcomes to best meet their needs.
Global generative design market is expected to witness rapid growth over the forecast period, as it helps to solves engineering challenges and come up with design solutions that the human mind could never conceive on their own. Also, the growth of the sharing economy and additive manufacturing will drive the demand to produce higher-quality goods. However, engineers faces challenges as to how to use the software, how to provide expectations to the software and get holistic solutions. These factors will hamper the market growth.
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Key players operating in the global generative design market include Autodesk, ANSYS, Inc., Desktop Metal, GRM Consulting, United Technologies Corporation, Dassault Systemes, PTC, Airbus, Under Armour and Stanley Black & Decker, Siemens among others. To enhance their market position in the global generative design market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance, in November 2019, ANSYS and Autodesk Inc. announced the partnership to allow their products to drive revolutionary design and engineering agility for the customers. The collaboration connects ANSYS Mechanical simulation solutions with Autodesk Fusion 360, integrated design and manufacturing software, to expedite products to market.
- For instance, in October 2019, PTC announced that it has acquired Frustum Inc., an advanced generative design software company to add artificial intelligence and generative design capabilities to enhance and expand its CAD portfolio.
- In the February 2018, Dassault Systèmes announced the strategic partnership with the Desktop Metal to develop advance design for additive manufacturing (DfAM) through education and an integration between Dassault Systèmes’s SOLIDWORKS applications and Desktop Metal systems.
Computer art segment is dominating the generative design market with highest market share
The type segment is classified into generative art and computer art. Computer art is an art in which computers are used to generate designs by using the key inputs in the form of an image, websites, algorithm, sound, animation, video, CD-ROM, performance or gallery installation. The growth of this segment is mainly attributed to the flexibility it offers to customize software as per an organization’s dynamic requirements, data security, and privacy. The computer art is set to transform the role of engineers and designers and helps to reduce the manufacturing time.
Automotive segment is dominating the market with the highest share in the global generative design market
The applications segment is classified into consumer goods, architecture and construction, aerospace, industrial machinery, automotive, and building products. The automotive industry has always been on the forefront in terms of technological development and adoption the advanced technologies. Generative design has immense application in the automotive sectors, as there are thousands of components that make up a vehicle, and many of these can be restructured using generative design system. Many automotive manufacturers have adopted this technology for developing innovative solution for automotive manufacturing. For instance, General Motors is exploring the use of software based on generative design and AI-driven algorithms to optimize shape and weight of automotive structural components.
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Regional Segment Analysis of the Generative design Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region dominated the global generative design market in 2017 where as the Asia Pacific region is growing rapidly in the market. Presence of large number of vendors who are offering generative design solution in the countries like U.S. and Canada is anticipated to have positive impact on the North America generative design market. In addition to this, early technology adoption and strong IT infrastructure in the region, further fuelling the growth of market in the North America. Asia Pacific region is projected to grow at highest CAGR in the global generative design market over the forecast period. This is mainly attributed to growing automotive sector, favorable government policies, rapid economic developments, and increasing digitalization in the region. Furthermore, the growing demand for generative design from the industry such as aerospace, construction, and manufacturing sector further boosting the growth of market in the Asia Pacific region.
About the report:
The global generative design market is analysed on the basis of value (USD Million). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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