Generative AI In Design Global Market Report 2024 by The Business Research Company | Alphabet Inc.; Microsoft Corporation; Siemens AG; NVIDIA Corporation; Adobe Inc.; Dassault Systèmes SE; Autodesk Inc.; Trimble Inc.; Ansys Inc.; PTC Inc.

The generative AI in design market size has grown exponentially in recent years. It will grow from $0.59 billion in 2023 to $0.81 billion in 2024 at a compound annual growth rate (CAGR) of 37.5%. The growth in the historic period can be attributed to the availability of large-scale datasets, increased awareness and adoption, ethical and responsible AI practices, educational programs and resources, and the rise of creative AI platforms.

The generative AI in design market size is expected to see exponential growth in the next few years. It will grow to $2.91 billion in 2028 at a compound annual growth rate (CAGR) of 37.8%. The growth in the forecast period can be attributed to education and skill development, real-time design generation, sustainability and eco-friendly design, AI-driven personalization, explainable AI in design. Major trends in the forecast period include the integration of generative AI in design tools, the emergence of niche applications and services, generative AI in digital twin technology, AI-enabled design automation, and augmented creativity.

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Generative AI In Design Market Major Segments
The generative ai in design market covered in this report is segmented -

1) By Deployment: On-Premise, Cloud
2) By Application: Product Design, Graphic Design, Interior Design, Fashion Design, Architecture
3) By End-Users: Large Enterprises, Small And Medium-Sized Enterprises (SMEs), Individual Users

Key Driver - The Growth Of Generative AI In Design Fueled By Rising Adoption Of AI Applications

The rising adoption of AI applications is expected to propel the growth of generative AI in design market going forward. Artificial intelligence refers to the ability of a computer or computer-controlled robot to execute tasks that are often connected to human intellectual processes. The adoption of AI applications is rising due to the increasing complexity of tasks coupled with advancements in AI technology. Generative AI in design leverages AI algorithms to autonomously produce novel designs, streamlining creative processes and fostering innovation in various industries such as architecture, fashion, and product design. These applications enable rapid prototyping, customization, and exploration of vast design possibilities, revolutionizing traditional design workflows. For instance, in November 2023, according to a report published by the United States Census Bureau, a US-based governing agency, the adoption of artificial intelligence by the construction sector was 1.2%, and it was expected to increase to 2% in the next 6 months. Therefore, the rising adoption of AI applications is driving the growth of the generative AI in design market.

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Prominent Trend - Advancements in Generative AI Capabilities by Key Players

Major companies operating in the generative AI in design market are focused on developing and upgrading their generative AI capabilities with advanced technological functionalities, such as auto-clustering, Python, and R coding capabilities, and more, to boost their revenues in the market. Auto-clustering, Python, and R coding capabilities empower generative AI in design by enabling designers to leverage sophisticated data analysis, machine learning, and statistical techniques to create innovative and optimized design solutions tailored to specific user requirements and design objectives. For instance, in November 2023, Altair Engineering Inc., a US-based information technology company, upgraded its data analytics and AI platform, Altair RapidMiner, to deliver powerful next-generation generative AI capabilities. Updates include several features, such as auto-clustering, expanded SAS, Python, and R coding capabilities, and more, aiming to elevate the platform's capabilities. It features an updated array of data visualization components, fresh layout templates and utilities, and enhanced style options, simplifying the process of creating, sharing, and utilizing dashboards. These enhancements reduce setup time for designers, allowing them to concentrate on crafting and implementing more visually appealing and user-friendly dashboards.

Generative AI In Design Market Players
Major companies operating in the generative AI in design market report are Alphabet Inc.; Microsoft Corporation; Siemens AG; NVIDIA Corporation; Adobe Inc.; Dassault Systèmes SE; Autodesk Inc.; Trimble Inc.; Ansys Inc.; PTC Inc.; Bentley Systems Incorporated; Anthropic AI; Altair Engineering Inc.; DeepMind Technologies Limited; OpenAI Inc.; Jasper Technologies Inc; Corel Corporation; Hugging Face Inc.; Chaos Group; Vectorworks Inc.; AI21 Labs; Onshape Inc.; Stability AI LLC; Midjourney Inc.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the generative AI in design market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the generative AI in design market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Generative AI In Design Market Report Structure
3. Generative AI In Design Market Trends And Strategies
4. Generative AI In Design Market - Macro Economic Scenario
5. Generative AI In Design Market Size And Growth
…..
27. Generative AI In Design Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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