Rising need for advanced
design software to drive product innovation is expected to boost global
generative design market through 2024
According
to TechSci Research report, “Global Generative Design Market By Component, By
Deployment Mode, By Application, By Vertical, By Region, Competition, Forecast
& Opportunities, 2024”, global generative design market is projected to grow at a
CAGR of over 13% during 2019-2024, on the back of high demand for advanced
design software and enhanced production efficiency. Using artificial
intelligence and cloud computing, generative design enables engineers to create
thousands of design software, promoting the growth of the generative design
market, globally.
Dassault Systèmes SE, Autodesk, Inc., Desktop Metal, Inc., Ntopology
Inc., Altair Engineering Inc., Bentley Systems, Ansys, MSC Software, ESI Group
and Paramatters are among the leading players operating in global generative
design market. Companies operating in the market are using organic strategies
such as product launches, mergers and collaborations to boost their share. In
2018, Desktop Metal launched Live Parts, latest version of the 3D printing
generative design software tool.
Browse 20 market data Tables and 108 Figures
spread through 110 Pages and an in-depth TOC on "Global
Generative Design Market "
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In
terms of component, software segment accounted for the largest market share in
2018, as it helps to improve the production efficiency. On the basis of
application, production design & development segment is expected to
dominate the market, as it can produce a wide range of complex design
alternatives in minimal time. Generative design market caters to various
verticals such as automotive, aerospace & defense, industrial manufacturing
and others. Automotive vertical is likely to lead the generative design market
during the forecast period, owing to increasing implementation of generative
design in virtual environment to test and analyze the product design. Moreover,
increasing demand for reducing production and material cost would drive the use
of generative design tools in automotive sector in the coming years.
“North America dominated global
generative design market in 2018 and the region is expected to continue its
market dominance during the forecast period, owing to the early adoption of
technology and growing awareness pertaining to these solutions. Moreover,
presence of large number of vendors offering generative design solutions and
services in countries like the US and Canada is expected to have a positive
impact on the region’s generative design market.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management consulting
firm.
“Global Generative Design Market By Component, By
Deployment Mode, By Application, By Vertical, By Region, Competition, Forecast
& Opportunities, 2024” has
evaluated the future growth potential of global generative design market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global generative design market.
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