Industrial Design Market Size to Expand with 5.85% CAGR till 2025 with Eminent Players as Accenture, Ammunition, Ziba Design, BlueFocus Intelligent Communications, PDD, LUNAR Design, R&D Design, GK Design Group, RKS Design, Busse Design
The industrial design market has been growing steadily over the last couple of decades. Factors that are predominantly driving the growth in the market include the growing investment in computer-aided designs and engineering. Moreover, factors such as the increasing incorporation of the Internet of Things (IoT) among industrial sectors are escalating the market globally, making production processes easier and smoother.
According to Market Research Future (MRFR), the global industrial design market is expected to accrue a value of USD 61,786.7 MN by 2025, registering a CAGR of 5.85% over the forecast period (2018-2025). In 2013, the market had valued at USD 32,546.5 MN. Increasing environmental awareness among heavy industries influenced by factors such as the Green engineering initiatives is a major driving force behind the market growth.
Additionally, trends such as the environmental viability of manufacturing processes alongside the use of environmentally feasible, renewable energy sources in the production of the designed products would foster the growth of the market.
Furthermore, factors such as the increasing adoption of IoT applications in the manufacturing sector all over the world are positively impacting the market growth, efficiently enabling automation of industrial processes.
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Global Industrial Design Market – Segments
There are three key dynamics that the market is segmented into;
By Type: Product Design, Model Design & Fabrication, User Interface & Interaction Design, among other industrial designs.
By Application: Transportation, Electronic, Household, Machinery & Equipment, among others.
By Regions: North America, Europe, Asia Pacific, and the Rest-of-the-World.
Global Industrial Design Market – Regional Analysis
The Asia Pacific region would remain its dominance over the global industrial design market, witnessing the growing investment in the industrial sector in rapidly emerging countries such as China, Japan, Korea, and India. Factors such as the increasing adoption of IoT solutions alongside the industrial revolution 4.0 and the rapid industrialization in the region would benefit the growth of the market.
The region represents enormous growth opportunities for market players with the untapped market for the IoT industry, which are likely to emerge as leading consumers of IoT solutions over the coming years.
The burgeoning manufacturing sectors in most of the APAC countries, backed by the growing government efforts to make the most of the human capital available in these countries and increasing investment by foreign players are expected to boost further spectacularly in the coming years, which in turn, would support the growth of the regional market, hugely.
The North American region heading with the huge technological advances accounts for the second-largest market for industrial designs, globally. North America, led by the vast technological advancements, offers a favorable platform for IoT applications to evolve further. Factors such as the augmenting demand for IoT solutions in the growing number of industries substantiate the growth in the regional market.
Also, the rapid adoption of ubiquitous technologies such as AI, AR, and others are some of the key driving forces contributing to the growth of the market in the region.
The European industrial design market, on the other hand, is witnessing moderate growth. Augmented demand for architectural designs in the growing construction sector in some of the European countries like Germany, Italy, Spain, the UK, and France, is driving the growth of the regional market, majorly.
Besides, increasing expenditure in innovations and growing purchasing power of consumers led by the improving economy in the region positively impacts the growth of the market. Moreover, the growing manufacturing industry is expected to keep contributing to market growth over the anticipated period.
Global Industrial Design Market – Competitive Analysis
Highly competitive, the industrial design market appears to be highly fragmented owing to the presence of several well-established as well as small players active in the market. Key strategies traced from the analysis include product launch, agreement & partnership, acquisition, and expansion.
Strategic partnerships are expected to support the growth and expansion plans of these key players during the forecast period. On the sales side, players are investing in innovation/R&D and brand building, while fostering strong relationships with clients to support their competitive position.
Industrial designers strive to deliver innovative solutions that can improve the design and manufacturing processes of businesses around the world, focusing on the appearance of a product, it's functions, manufacturing, and ultimately the value-added experience it provides for users.
Always looking for a competitive edge, players operating in the industrial design market apply the latest technologies to help customers deliver competitive products to the market faster and more efficiently.
Key players leading the global industrial design market include Altran Technologies SA (France), IDEO LLC (US), Designworks (BMW AG), Accenture PLC (Ireland), ARTOP Group (China), Ammunition Group (US), BlueFocus Intelligent Communications Group Co. Ltd. (China), Ziba Design (US), PDD Group Ltd. (UK), R&D Design (US), LUNAR Design (US), GK Design Group (US), Busse Design (US), and RKS Design (US) among others.
Industry/ Innovation/ Related News:
March 22, 2019 --- Creaform (Canada), a business unit of AMETEK and a leader in portable and automated 3D measurement solutions announced that its two new products BLACKTM and Go!SCAN SPARKTM have won Red Dot Awards for Product Design.
With these two products, Creaform’s industrial designer teams pushed the design language to a whole new level—with dramatic results. Not only do these new solutions offer unrivaled 3D scanning performance and accuracy, but they also do so in frictionless ways that improve usability.
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