Industrial Design Market Size Expected to Grow by USD 12.51 Billion | APAC will occupy 31% of the global market

One of the major growth drivers for this market is the growing demand for computer-aided design (CAD) for product manufacturing. Furthermore, increasing urbanization and rising disposable incomes will further accelerate the growth of the market over the forecast period. However, the availability of free and open-source design platforms will reduce the growth potential of the market. Technavio expects the size of the industrial design market to increase by $12.51 billion between 2021 and 2026. However, the growth momentum is expected to slow down at a CAGR of 4.72% during the forecast period.

Industrial Design Market: Segment Highlights for 2020

• By product type, the market has seen strong growth in the product design segment.
• The segment is driven by the increased emphasis on a product’s physical appearance, functionality and manufacturability.
• Also, the increasing use of latest technologies such as autonomous robots, augmented reality, additive manufacturing, big data and analytics, simulation platforms, horizontal and vertical application integration, IoT (IIoT), cybersecurity systems, cloud computing and cognitive computing will fuel the growth of the segment.
• Market growth in the segment will be significant over the forecast period.

Regional analysis

• 31% of the growth will come from the APAC region.
• The region will present significant growth opportunities for market vendors.
• The increasing construction of commercial and industrial buildings is one of the key factors driving the growth of the Asia-Pacific market.
• China, Japanand India are the main markets for APAC industrial design.
• Market growth in APAC will be slower than market growth in other regions.

Discover highlights on the market’s top performing key segments, regions and countries.
Download a free sample now!

Remarks:

• The industrial design market size is expected to accelerate at a CAGR of 4.72% during the forecast period.
• The industrial design market is segmented by geography (APAC, North America, Europe, South Americaand MEA) and Product (Product Design, Pattern Design and Manufacturing, and Other Industrial Design).
• The market is fragmented due to the presence of numerous established vendors holding a large market share.
• The research report offers information on several market vendors including Ammunition LLC, Bresslergroup, Designworks, IDEO LP, Karten Design, PDD Group Ltd., RKS DESIGN INC., Seymour Powell Ltd., TEAGUE, and WHIPSAW INC.

Related reports:

Interior Design Services Market by End User and Geography – Forecast and Analysis 2021-2025

Modular Kitchen Market by Product, Design and Geography – Forecast and Analysis 2021-2025

About UsAbout Us
Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

Contact:
Technavio Research
Jesse Maida
Media & Marketing Manager
USA: +1 844 364 1100
UK: +44 203 893 3200
E-mail: [email protected]
Website: www.technavio.com/

SOURCETechnavio