2024 Global Market Insights: Generative Design Software Trends and Forecasts

"The Business Research Company recently released a comprehensive report on the Global Generative Design Software Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The generative design software market size has grown rapidly in recent years. It will grow from $1.90 billion in 2023 to $2.25 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. The growth in the historic period can be attributed to technological advancements, growing demand for sustainable design solutions, increasing complexity in design requirements, rising adoption of additive manufacturing, and expanding application areas in various industries.

The generative design software market size is expected to see rapid growth in the next few years. It will grow to $4.49 billion in 2028 at a compound annual growth rate (CAGR) of 18.8%. The growth in the forecast period can be attributed to integration with artificial intelligence and machine learning, emergence of cloud-based generative design platforms, heightened focus on product customization and personalization, growing demand for efficient resource utilization in design processes, expansion of generative design applications in the architecture and construction industry. Major trends in the forecast period include AI-driven optimization, multi-disciplinary collaboration tools, increased automation in design iteration, enhanced sustainability metrics integration, and augmented reality (AR) for real-time design evaluation.

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Market Drivers and Trends:

The increasing deployment of cloud-based solutions is expected to propel the generative design software market going forward. Cloud-based solutions refer to software, services, or resources that are hosted and accessed remotely via the Internet, offering scalability, flexibility, and accessibility from any device with an Internet connection. The increasing deployment of cloud-based solutions is driven by the demand for scalability, cost-efficiency, flexibility, and accessibility, enabling businesses to adapt to evolving technological needs and enhance operational efficiency. Cloud deployment for generative design software enables scalable computing power and collaborative design processes, facilitating rapid iteration and optimization of complex designs with ease. For instance, in December 2023, according to Eurostat, a Luxembourg-based governmental organization of the European Union, the adoption rate of cloud computing services among medium-sized enterprises increased to 59%, marking a rise from 53% in 2021. Therefore, the increasing deployment of cloud-based solutions is driving the growth of the generative design software market.

Major companies operating in the generative design software market are focused on developing software with advanced technology such as 3D voxel display and voxel-based geometry kernel technology to enhance the efficiency and precision of design processes. Voxel-based geometry kernel refers to a technology used in computer graphics and design, and it operates on a volumetric representation of objects, where each voxel represents a point in a three-dimensional grid, and 3D voxel display is a type of technology used to visualize three-dimensional objects using voxels. For instance, in June 2022, Hyperganic Group GmbH, a Germany-based company that specializes in generative design software and additive manufacturing solutions, launched the newest version of Hyperganic's algorithmic design software, Hyperganic Core 3, which incorporated advanced AI technology for automated design processes. The foundation of Hyperganic Core relies on a customized geometry kernel utilizing 3D voxels, while a significant portion of the platform is coded in Assembly, a low-level programming language positioned just above binary machine code. This approach ensures proximity to hardware and optimization across diverse processor architectures. Hyperganic Core 3 employs cutting-edge GPU techniques to display each particle constituting the object in real time, enabling precise and detailed object representation.

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Major Key Players of the Market:

Siemens AG, HP Inc., Accentur*e PLC, International Business Machines Corporation, SAP SE, Dassault Systèmes SE, Hexagon AB, Autodesk Inc., ANSYS Inc, PTC Inc., Bentley Systems Inc., Stratasys Ltd, Altair Engineering Inc., GE Additive, Desktop Metal Inc., ESI Group, Electro Optical Systems GmbH, SLM Solutions Group AG, Markforged Inc, ExOne Operating LLC, Synera GmbH, Caracol AM, nTopology Inc., Diabatix nv, 3D Systems Inc

Generative Design Software Market 2024 Key Insights:

• The generative design software market size is expected to see rapid growth in the next few years. It will grow to $4.49 billion in 2028 at a compound annual growth rate (CAGR) of 18.8%.
• Cloud Deployment Boosts Growth In Generative Design Software Market
• Generative Design Companies Innovate With 3D Voxel Technologies
• North America was the largest region in the generative design software market in 2023

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