Generative Design Market is growing at a brisk pace

According to the latest research report published by Market Data Forecast, the global generative design market is predicted to reach USD 290 million in 2024 and USD 730 million by 2029, growing at a CAGR of 20.4% during the forecast period.

Generative design envisions developing evolutionary approaches based on technologies like artificial intelligence (AI) and cloud computing. Key players in the generative design market support key improvements to artificial intelligence software and cloud technology. Using generative design with these tools, engineers can enter basic parameters such as weight, height, material options, and strength. This generative design process allows engineers to offer various design options to customers. Generative design is a capability of CAD applications that independently generates a series of design alternatives subject to several restrictions. Deployments like On-Premise and Cloud are counted in scope. The report examines the vertical sectors of end users such as automotive, aerospace and defense, architecture construction, and manufacturing machinery. Other types of end-user markets include consumer and construction products.

Global Generative Design Market Report Scope:
• Market Size (2029): USD 730 Million
• Market Size (2024): USD 290 Million
• CAGR (2024 to 2029): 20.4%
• Base Year: 2023
• Forecast Period: 2024 to 2029
• Segments Analysed: By Component, Application, End User, and Region
• Geographies Covered: North America, Europe, APAC, Latin America, and Middle East & Africa
• Key Market Players Profiled: Autodesk (United States), Altair (United States), ANSYS (United States), MSC Software (United States), Dassault Systèmes (France), ESI Group (France), Bentley Systems (United States), Desktop Metal (United States), nTopology (United States), Paramatters (United States), and others.

Market Drivers:

The generative design market growth is driven by factors including the rising demand for modern CAD software for product development, the increasing need for ecologically friendly architecture and improved manufacturing efficiency. Also, it is advancing further by producing pre-existing shapes. When compared to topology optimization which barely removes unwanted parts or pieces the generative design creates multiple geometric versions based on the engineer's requirements rather than simply altering variations. But both topology optimization and generative design are propelled by the additive because they provide more creation freedom to serve a bigger audience.
Moreover, the increasing need for advanced manufacturing with complicated designs and to reduce size during performance enhancement for automotive is also influencing the industry's progress. This is pushing them to invest more amount in research and development activities and help in the smooth incorporation of generative design.
The generative AI models facilitate young and inexperienced designers to determine and learn the latest market pattern by building new and different versions. These offer deep knowledge and understanding of a variety of designs and customer preferences. In addition, it provides innovative ideas and unconventional product strategies to create designs based on current models and approaches and allows users a pool of unique suggestions and options.

Market Restraints:

The generative design market growth is hindered by the lack of trained professionals. Since it is a relatively new field finding proficient and experienced people with complete knowledge and understanding of artificial intelligence tools and designs for productive use is tough. Similarly, its adoption is restricted by its unavailability to hire skilled employees in this sector. This is derailing the return on investments made by companies.
Another factor decreasing the growth rate of the generative design market is the worries about originality and intellectual property rights. This is why many companies have taken measures to stop its application which hampering the industry from expanding further. Also, there is a risk of results made by generative AI products that violate intellectual property rights because they are already created and published by other players. So, it becomes important to safeguard these intellectual property rights while using these generative AI methods and ascertain that the crafted designs do not infringe any pre-existing patents, copyrights and trademarks.

Browse full details of the report @ https://www.marketdataforecast.com/market-reports/generative-design-market

Key Insights from The Report:
•Based on Component, the Software segment led the market and accounted for a large share of the global market in 2023.
•Based on Application, the Product Design and Development segment captured the largest share of the global market in 2023.
•Based on End User, the Automotive segment is anticipated to dominate the market in 2023.
•North America dominated the Generative Design Market in 2023. Europe accounted for the second-highest share of the global market in 2023, and the Asia-Pacific region is estimated to grow over the forecast period.

SEGMENTATION INCLUDED IN THIS REPORT:

By Component:
•Software
•Services

By Application:
•Product Design and Development
•Cost Optimization

By End User:
•Automotive
•Aerospace & Defense
•Industrial Manufacturing

By Region:
•North America
•Europe
•Asia-Pacific
•Middle East & Africa
•Latin America

TABLE OF CONTENTS:

1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year, and Forecast Periods

2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline

3. Report Overview
3.1 Executive Summary
3.2 Key Inferences

4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends

5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market Share Analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquisition Landscape
5.3 Joint Ventures & Collaborations

6. Market Segmentation
6.1 Generative Design Market, By Component
6.1.1 Software
6.1.2 Services
6.1.3 Market Size Estimations & Forecasts (2024 to 2029)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Generative Design Market, By Application
6.2.1 Product Design & Development
6.2.2 Cost Optimization
6.2.3 Market Size Estimations & Forecasts (2024 to 2029)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Generative Design Market, By End-User
6.3.1 Automotive
6.3.2 Aerospace & Defense
6.3.3 Industrial Manufacturing
6.3.4 Market Size Estimations & Forecasts (2024 to 2029)
6.3.5 Y-o-Y Growth Rate Analysis
6.3.6 Market Attractiveness Index

7. Geographical Landscape
7.1 Global Generative Design Market by Region
7.2 North America - Market Analysis (2024 to 2029)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Component
7.2.3 By Application
7.2.4 By End-User
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Component
7.3.3 By Application
7.3.4 By End-User
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Component
7.4.3 By Application
7.4.4 By End-User
7.5 Latin America
7.5.1 By Country
7.5.1.1 brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Component
7.5.3 By Application
7.5.4 By End-User
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Component
7.6.3 By Application
7.6.4 By End-User

8. Key Player Analysis
8.1 Autodesk
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Altair
8.3 ANSYS
8.4 MSC Software
8.5 ESI Group
8.6 Dassault Systèmes
8.7 Bentley Systems
8.8 Desktop Metal
8.9 nTopology
8.10 Parameters

9. Market Outlook & Investment Opportunities

10. Appendix
List of Tables
List of Figures

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