The global generative design market is expected to post a CAGR of over
16% during the period 2019-2023, according to the latest market research
report by Technavio.
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Technavio has published a new market research report on the global generative design market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the acceleration of
project speed. Inability to complete the projects on time and within the
budget are significant problems faced by enterprises. However,
generative design can generate a large number of designs, which can be
optimized very quickly according to the predefined conditions and
restraints. Also, the design created by the generative design solution
will also consider the forces of nature, such as air resistance or
gravity. Moreover, the generative design solution is also capable of
rapidly changing the designs according to customer requirements. Thus,
enterprises do not have to wait for long to get designs due to a change
in customer requirements. Hence, it will expedite project implementation
speed. Thus, the acceleration of project speed will lead to an increase
in the demand for generative design during the forecast period.
As per Technavio, the use of artificial intelligence (AI) with a
generative design will have a positive impact on the market and
contribute to its growth significantly over the forecast period. This global
generative design market 2019-2023 research report also
analyzes other significant trends and market drivers that will affect
market growth over 2019-2023.
Global generative design market: Use of
artificial intelligence (AI) with generative design
Currently, many industries are opting for real-time solutions such as
Al. Al has enabled generative design solution with algorithms that help
them to produce a wide range of design alternatives. Al with generative
design solutions is increasingly being adopted by participants in
various industries such as construction and automotive. The engineers
can define their design problem by defining basic parameters such as the
weight of the product it should support, height, strength, and material
options. Al provides a centralized view of all business activities and
associated information. It also helps in increasing the capabilities of
designers and engineers to test new designs and incorporate them into
the products. These features will lead to an increase in demand for Al
with generative design during the forecast period.
“Apart from the use of AI, the integration of 3D printing with the
generative design is one other major factor that is expected to boost
the market growth. Generative design solutions enable enterprises to
conceptualize parts with organic and complex shapes. On the other hand,
3D printing helps in constructing these shapes using a 3D printer. A 3D
printer can enable enterprises to cost-effectively create the complex
geometries designed through the generative design solution. This is
encouraging the vendors in the market to offer a generative design
solution that can be integrated with 3D printers,” says a senior
analyst at Technavio.
Global generative design market: Segmentation
analysis
This market research report segments the global generative design market
by component (software and service) and geographical regions (North
America, Europe, APAC, South America, and MEA).
The North American region led the market in 2018, followed by Europe,
APAC, South America, and MEA respectively. However, during the forecast
period, the APAC region is expected to register the highest incremental
growth due to the increase in the automotive industry. The automotive
industry is one of the important end-users of generative designs.
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Five Forces Analysis
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Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
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- Market positioning of vendors
- Competitive scenario
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