The global generative design market reached a value of US$ 192.8 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 526 Million by 2027, exhibiting a CAGR of 18.80% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Generative design is an engineering software that autonomously creates high-performance design iterations based on performance or spatial requirements, manufacturing methods, materials, and costs. It relies on artificial intelligence (AI) algorithms to generate and evaluate a wide range of product designs and make highly customized complex shapes and internal lattices that cannot be produced using conventional manufacturing methods. In addition, it supports topology optimization for performing structural simulation and removing load-weight from empty areas in three-dimensional (3D) models. At present, generative design is adopted around the world as it helps in reducing component weight and simplifying the design.
Generative Design Market Trends:
The growth in the market can be attributed to the extensive usage of generative design software in various end use industries around the world. For instance, it is employed in the automotive industry for manufacturing lightweight components and consolidating parts. This, in confluence with the boosting sales of passenger and commercial vehicles on account of rapid urbanization and improving income levels, is contributing to the market growth. Moreover, regulatory authorities in various countries are implementing stringent policies to reduce the ecological footprint of commercial aircraft. As a result, several manufacturers operating in the aerospace industry are relying on generative design software to reduce aircraft weight, minimize environmental impact, and improve passenger safety. Apart from this, the growing popularity of drones is driving the use of generative design software to improve their aerodynamic efficiency and durability and increase lifespan and flight performance. Other factors, such as the escalating demand for consumer goods and the thriving construction industry, are positively influencing the demand for generative design software to generate multiple computer-aided designs (CADs) and drive innovation and productivity.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global generative design market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, deployment model, application and industry vertical.
Breakup by Component:
Breakup by Deployment Model:
Breakup by Application:
Product Design and Development
Breakup by Industry Vertical:
Aerospace and Defense
Architecture and Construction
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being 3Dnatives, Altair Engineering Inc., Ansys Inc., Autodesk Inc., Bentley Systems Incorporated, Dassault Syst?mes SE, Desktop Metal Inc., Diabatix, MSC Software Corporation (Hexagon AB), Ntopology Inc., Proto3000 Inc. and Ptc Inc. Key Questions Answered in This Report:
How has the global generative design market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global generative design market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the deployment model?
What is the breakup of the market based on the application?
What is the breakup of the market based on the industry vertical?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global generative design market and who are the key players?
What is the degree of competition in the industry?