Generative Design Market Analysis 2024: Trends, Growth, And Forecasts

LONDON, GREATER LONDON, UK, June 21, 2024 /EINPresswire.com/ -- The generative design market, characterized by its use of algorithms to explore diverse design solutions, is poised for substantial growth. It is projected to grow from $3.18 billion in 2023 to $3.78 billion in 2024, achieving a CAGR of 18.8%. This growth stems from increased adoption across industries, demand for lightweight structures, sustainability concerns, and regulatory compliance.

Emphasis on Product Performance Drives Market Growth
The generative design market is expected to surge to $7.57 billion by 2028, growing at a CAGR of 18.9%. This growth is fueled by heightened focus on product optimization, expansion into new industries, digital transformation, and rising demand for customized products. Key trends include AI and ML integration, cloud-based platforms, hybrid design approaches, additive manufacturing integration, and democratization of design tools.

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Rise in Sales of Commercial Vehicles Propels Market
The market's growth is further propelled by increasing sales of commercial vehicles, driven by consumer demand, EV industry expansion, and favorable financing. Generative design optimizes vehicle structures, enhancing efficiency and safety. For instance, in 2022, commercial truck sales in the USA rose by 3.8%, reaching 476,000 units, underscoring the market's expansion.

Key Players and Technological Innovations
Major companies such as Dassault Systèmes SE, Autodesk Inc., and ANSYS Inc. are leading innovation with generative AI-featured elements. These innovations integrate AI capabilities to autonomously generate, evaluate, and refine designs. For example, Evolv AI introduced generative AI features enabling instant visual web page changes from text descriptions, revolutionizing personalization and experimentation.

Segments:
• Software Solutions: Topology Optimization, Parametric Design Tools, Simulation And Analysis, Algorithmic Design Platforms
• Deployment Models: On-Premises, Cloud-Based
• Services: Consulting And Training, Implementation And Integration
• Industry: Automotive, Aerospace And Defense, Architecture And Construction, Industrial Manufacturing, Other Industries

Geographical Insights: North America Leads, Asia-Pacific Poised for Growth
North America dominated the generative design market in 2023, while Asia-Pacific is expected to exhibit the fastest growth. Detailed insights into regional dynamics, market trends, and growth opportunities are covered comprehensively in the report.

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Generative Design Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Generative Design Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on generative design market size, generative design market drivers and trends, generative design market major players, competitors' revenues, market positioning, and market growth across geographies. The generative design market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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