New York, US, Aug. 27, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Industrial Design Market information by Type, by Application and Region – forecast to 2027” market size to reach USD 61,786.7 million at 5.85% CAGR from 2019-2025.
Dominant Key Players on Industrial Design Market covered are:
- RKS Design (U.S.)
- Busse Design (U.S.)
- Designworks (BMW AG)
- Accenture PLC (Ireland)
- BlueFocus Intelligent Communications Group Co. Ltd. (China)
- IDEO LLC (U.S.)
- GK Design Group (U.S.)
- Altran Technologies SA (France)
- PDD Group Ltd. (U.K.)
- Ziba Design (U.S.)
- R&D Design (U.S.)
- ARTOP Group (China)
- Ammunition Group (U.S.)
- LUNAR Design (U.S.)
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Industrial Design Market Drivers
Integration of IoT to Reduce Production Process
The use of IoT in production procedures to speed up output has the potential to drive the global industrial design market. The market may profit from a greater reliance on new technology in the next years due to its benefits and tools for implementing increasingly difficult design techniques. Enterprises' shift to a value-based business model, as well as manufacturing units' use of rapid production methods, can bode well for the global market. Manufacturers are starting new projects in India and China, with suitable execution plans in place and in accordance with COVID-19 regulations. This is likely to increase demand for product design and industrial design services in general.
Green Engineering
Green engineering and sustainable development represent a realistic possibility for the industry to broaden its reach during the projection period. Sustainable plans are being implemented by governments around the world to reduce carbon emissions and encourage the growth of environmentally sustainable sources of product manufacturing. The usage of solar energy to satisfy industrial energy requirements is a good place to start for the global industrial design market. Industrial design can help builders adhere to the most recent environmental regulations while also benefiting from green incentives.
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Segmentation of Market Covered in the Research:
The global industrial design market has been segmented into type and application.
By type, the global industrial design market has been segmented into product design, user interface and interaction design, model design and fabrication, and other industrial designs.
By application, the global industrial design market has been segmented into transportation, electronic, household, machinery & equipment, others.
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Regional Analysis
APAC to Lead the Global Market
APAC is predicted to lead the worldwide industrial design market as a result of investments by major players in China, South Korea, Japan, and India. Adoption of IoT solutions by top industrialists, as well as a large potential for IoT applications, can help to accelerate the trend. The expansion of the manufacturing sector, as well as government measures to capitalize on the vast labor population, have the potential to boost market demand. By the end of the forecast period, the regional market may be worth USD 24,264.3 million.
Europe to Follow APAC
Europe is expected to make a significant contribution to the global industrial design industry as a result of intellectual property rules being implemented in the European Union to protect patented industrial designs of products and components. Regulations prohibiting third parties from using the patented design and profiting from its success may encourage players to invest in the region. However, ambiguity in key portions of the law can stymie regional market expansion.
COVID-19 Impact on the Global Industrial Design Market
The global economy has experienced many disruptions in day-to-day business operations across industrial verticals as a result of the global outbreak of a new coronavirus. For several months, lockdown and other movement restrictions were enforced to prevent the spread of a deadly virus, which had an impact on the rapid alteration of the working culture. Because it enables better infotainment and diagnostics systems and speedier service upgrades, Industrial Design is becoming more popular around the world.
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Industry News
Iptor has partnered with HARMAN to explore future solutions and provide cloud solutions for clients in the publishing, pharmaceutical, and distribution industries. The demand for industrial design is likely to be driven by design advances such as social collaboration, process automation, robotic support, and industry 4.0.
LG's latest smartphone, the LG Wing G5, makes extensive use of industrial design. It incorporates cutting-edge technologies and is compatible with wireless communication technologies. It has two display screens, one of which can swivel horizontally due to hydraulic dampers.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
