Industrial Design Market Close To Hitting $ 61,786.7
New York, United States, August 27, 2021 (GLOBE NEWSWIRE) – Market Snapshot:
According to a comprehensive research report from Market Research Future (MRFR), “Global Industrial design market information by type, application and region – forecast to 2027“The market size will reach $ 61,786.7 million at a CAGR of 5.85% from 2019 to 2025.
Major Key Players Covered Industrial Design Market Are:
- RKS design (United States)
- Bus design (United States)
- Design work (BMW AG)
- Accenture PLC (Ireland)
- BlueFocus Intelligent Communications Group Co. Ltd. (China)
- IDEO LLC (United States)
- GK Design Group (US)
- Altran Technologies SA (France)
- PDD Group Ltd. (UK)
- Ziba Design (United States)
- R&D design (United States)
- ARTOP Group (China)
- Ammunition group (United States)
- LUNAR design (United States)
Drivers of the industrial design market
Integration of IoT to reduce the production process
The use of IoT in production procedures to speed up production has the potential to boost the global industrial design market. The market could benefit from greater dependence on new technologies in the coming years due to its advantages and tools to implement increasingly difficult design techniques. The shift of companies to a value-based business model, as well as the use by manufacturing units of rapid production methods, can bode well for the global market. Manufacturers are launching new projects in India and China, with appropriate execution plans in place and in compliance with COVID-19 regulations. This will likely increase the demand for product design and industrial design services in general.
Green engineering and sustainability represent a realistic possibility for the industry to expand its reach during the projection period. Sustainable plans are being implemented by governments around the world to reduce carbon emissions and encourage the growth of environmentally sustainable manufacturing sources. The use of solar energy to meet industrial energy needs is a good starting point for the global industrial design market. Industrial design can help builders meet the latest environmental regulations while benefiting from green incentives.
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Market segmentation covered by research:
The global industrial design market has been segmented into type and application.
By type, the global industrial design market has been segmented into product design, user interface and interaction design, model design and manufacture, and other industrial designs.
By application, the global industrial design market has been segmented into transportation, electronics, household, machinery and equipment, etc.
Browse the in-depth market research report (100 pages) on Industrial Design Market:
APAC to lead the global market
APAC is expected to dominate the global industrial design market with investments from major players in China, South Korea, Japan and India. The adoption of IoT solutions by the largest manufacturers, as well as a large potential for IoT applications, can help accelerate the trend. Expanding the manufacturing sector, along with government measures to take advantage of the large labor force, have the potential to stimulate market demand. By the end of the forecast period, the regional market could be worth $ 24,264.3 million.
Europe will follow the APAC
Europe should make a significant contribution to the global industrial design industry through the intellectual property rules implemented in the European Union to protect patented industrial designs of products and components. Regulations prohibiting third parties from using the patented design and profiting from its success may encourage players to invest in the region. However, ambiguity in key parts of the law can hamper regional market expansion.
Impact of COVID-19 on the global industrial design market
The global economy has seen many disruptions in day-to-day business operations in industrial verticals due to the global outbreak of a novel coronavirus. For several months, containment and other movement restrictions were applied to prevent the spread of a deadly virus, which impacted the rapid alteration of work culture. Because it enables better infotainment and diagnostic systems and faster service upgrades, industrial design is becoming increasingly popular around the world.
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Iptor has partnered with HARMAN to explore future solutions and deliver cloud solutions to customers in the publishing, pharmaceutical and retail industries. The demand for industrial design is likely to be driven by advancements in design such as social collaboration, process automation, robotic support, and Industry 4.0.
LG’s latest smartphone, the LG Wing G5, relies heavily on industrial design. It incorporates advanced technologies and is compatible with wireless communication technologies. It has two display screens, one of which can be rotated horizontally thanks to hydraulic shock absorbers.
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