Industrial Design Market Size To Increase USD 12.51 Billion | APAC will occupy 31% of global market share

One of the major growth drivers of this market is the increasing demand for computer aided design (CAD) for product manufacturing. In addition, increasing urbanization and rising disposable income will further accelerate the market growth during 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 to a CAGR of 4.72% during the forecast period.

Industrial Design Market: Segment Highlights for 2020

  • By product type, the market has experienced strong growth in the product design segment.
  • The segment is driven by the increased emphasis on the physical appearance, functionality and manufacturability of a product.
  • In addition, the increasing use of the latest technologies such as autonomous robots, augmented reality, additive manufacturing, Big Data and analysis, simulation platforms, horizontal and vertical application integration, IoT industrial (IIoT), cybersecurity systems, cloud computing and cognitive computing will fuel segment growth.
  • Market growth in the segment will be significant during the forecast period.

Regional analysis

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

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Remarks:

  • The size of the industrial design market 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 America, and MEA) and Product (Product Design, Model Design and Manufacturing, and Other Industrial Design).
  • The market is fragmented due to the presence of many established suppliers holding a significant market share.
  • The research report provides 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.

Associated 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

Scope of the industrial design market

Cover of the report

Details

Page number

120

Year of reference

2021

Forecast period

2022-2026

Growth dynamics and CAGR

Deceleration to a CAGR of 4.72%

Market growth 2022-2026

$ 12.51 billion

Market structure

Fragmented

Annual growth (%)

5.23

Regional analysis

APAC, North America, Europe, South America and MEA

Efficient contribution to the market

APAC at 31%

Main consumer countries

United States, China, Germany, Japan and India

Competitive landscape

Leading companies, competitive strategies, reach of consumer engagement

Profiled companies

Ammunition LLC, Bresslergroup, Designworks, IDEO LP, Karten Design, PDD Group Ltd., RKS DESIGN INC., Seymour Powell Ltd., TEAGUE and WHIPSAW INC.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Obstacles, Analysis of Fast Growing and Slow Growing Segments, Impact of COVID-19 and Future Consumer Dynamics, Analysis of Market Conditions for the Forecast Period.

Customization

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