DUBLIN, March 26, 2019 /PRNewswire/ — The “Generative Design Market by Application (Product Design & Development and Cost Optimization), Component, Deployment Model, Industry Vertical (Automotive, Aerospace & Defense, Industrial Manufacturing), and Region – Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.

The global generative design market to grow from USD 111 million in 2018 to USD 275 million by 2023, at a CAGR of 19.9% during the forecast period.

The generative design market is growing rapidly with the rising need for advanced product design software, a growing demand for environment-friendly architecture, and enhanced production efficiency. However, the complexity of using generative design software would limit the growth of the market.

Cost Optimization segment is expected to grow at the highest CAGR during the forecast period

By application, the cost optimization segment is expected to grow at the highest CAGR during the forecast period. Generative design is one such approach that enables designers to optimize fairly large and complex parameters such as material, energy, and time wastage. Hence, developing robust and efficient optimization algorithms to deal with resource wastage has been one of the major focus areas of industries.

Automotive industry vertical is estimated to be the largest adopter of generative design solutions in 2018

The automotive industry has always been at the forefront of adopting technologies for its product design and development. With rapid manufacturing advancements in the industry, generative design has gained a prominent place in achieving cost and production efficiency. Its use has increased to test and analyze designs of products in a virtual environment. Generative design software assists design engineers to reduce product design time, cost, and weight and improves the overall efficiency for automotive manufacturing and designing companies like General Motors, Hack Rod, and others.

Generative design market in Asia Pacific is projected to grow at the highest CAGR during the forecast period

The high growth of the market in Asia Pacific (APAC) is attributed to the rapid economic developments, favorable government policies, and increasing digitalization in the region with the increasing interest of businesses towards technologies such as Artificial Intelligence (AI). However, high installation costs, low acceptance of consumers, and changes in management processes remains the biggest hurdle in the adoption of generative design across the region. The cloud-based generative design tools present an optimal solution for these countries by minimizing integration complexities and installation costs.

The generative design market comprises major solution providers, such Altair (US), Autodesk (US), ANSYS (US), Dassault Systmes (France), Desktop Metal (US), MSC Software (US), ESI Group (France), Bentley Systems (US), nTopology (US), and Paramatters (US).

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Generative Design Market
4.2 Market Share, By Component
4.3 Market By Deployment Model
4.4 Market By Industry Vertical
4.5 Market By Region

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Need for Advanced Design Software to Drive Product Innovation
5.2.1.2 Growing Demand for Environment-Friendly Architecture
5.2.1.3 Enhanced Production Efficiency
5.2.2 Restraints
5.2.2.1 Complexity in Using Generative Design Software
5.2.3 Opportunities
5.2.3.1 Emerging Applications Across Various Industries
5.2.3.2 Technological Advancements in AI and Cloud Computing
5.2.4 Challenges
5.2.4.1 Integration Complexities
5.3 Industry Trends
5.4 Generative Design Market: Use Cases
5.4.1 Use Case 1: Reducing Weight and Optimizing Performance of Vehicles Using Generative Design Software
5.4.2 Use Case 2: Reducing Weight and Creating Strong Components With Generative Design Software
5.4.3 Use Case 3: Reducing Weight and Creating Easy-To-Use Products With Generative Design Software
5.5 Generative Design Process Flow

6 Generative Design Market By Component
6.1 Introduction
6.2 Software
6.2.1 Need to Improve Production Efficiency Would Drive the Growth of Generative Design Software
6.3 Services
6.3.1 Design & Consulting
6.3.1.1 The Need to Explore New Avenues for Improving Business Performance to Drive Growth of Consulting Services
6.3.2 Support & Maintenance
6.3.2.1 Complexity of Operations and the Need for Regular Assistance During the Software Lifecycle to Foster Growth of Support & Maintenance

7 Generative Design Market By Application
7.1 Introduction
7.2 Product Design & Development
7.2.1 Generative Design Software Can Produce A Wide Range of Complex Design Alternatives in Minimal Time
7.3 Cost Optimization
7.3.1 The Use of Generative Design Results in Lower Material and Shipping Costs
7.4 Others

8 Generative Design Market By Deployment Model
8.1 Introduction
8.2 On-Premises
8.2.1 Data Security and Privacy Concerns to Drive Demand for On-Premise Generative Design Software
8.3 Cloud
8.3.1 On-The-Go Access to Generative Design Software to Drive Adoption of Cloud Deployment

9 Generative Design Market By Industry Vertical
9.1 Introduction
9.2 Automotive
9.2.1 Need for Advanced Design Software to Reduce Production and Material Costs to Drive Demand
9.3 Aerospace & Defense
9.3.1 Need for Lightweight Components and Energy Performance Optimization to Drive Adoption of Generative Design
9.4 Industrial Manufacturing
9.4.1 The Use of Machine Learning to Create Multiple Design Iterations to Increase Adoption of Generative Design
9.5 Building
9.5.1 Initiatives to Construct Eco-Friendly Buildings to Spur the Demand for Generative Design
9.6 Architecture & Construction
9.6.1 Need for Optimized Construction Time, Logistics, and Material Costs to Drive Adoption Across Architecture & Construction Sector
9.7 Others

10 Generative Design Market By Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 US Held the Largest Market Share in the Region Due to the Presence of Prominent Players and High Technology Spending
10.2.2 Canada
10.2.2.1 Higher Technology Adoption Across Automotive and Industrial Manufacturing to Drive Market Growth
10.3 Europe
10.3.1 Germany
10.3.1.1 Growing Interest in Generative Design Software From the Construction and Automotive Verticals to Drive the Market in Germany
10.3.2 UK
10.3.2.1 UK to Account for the Largest Market Size for Generative Design in Europe
10.3.3 France
10.3.3.1 Strong Distribution Channel of Players Drive Market Growth in France
10.3.4 Rest of Europe
10.4 Asia Pacific (APAC)
10.4.1 China
10.4.1.1 China to Account for the Largest Generative Design Market Size in APAC
10.4.2 Japan
10.4.2.1 Growing Investments in Advanced Manufacturing Design Software to Drive Market Growth
10.4.3 South Korea
10.4.3.1 Inclination of Consumers Toward Learning and Training to Fuel Growth of Market
10.4.4 India
10.4.4.1 Growth of Manufacturing and Automotive Industry Verticals to Trigger Adoption of Generative Design Adoption
10.4.5 Rest of Asia Pacific
10.5 Latin America
10.5.1 Brazil
10.5.1.1 Need for Cost Optimization Across Automotive Industry to Drive Growth of Market
10.5.2 Mexico
10.5.2.1 Adoption of 3d Printing and Additive Manufacturing to Boost Adoption of Generative Design
10.5.3 Rest of Latin America
10.6 Middle East & Africa (MEA)
10.6.1 Middle East
10.6.1.1 Improving Manufacturing Infrastructure to Drive Market Growth
10.6.2 Africa
10.6.2.1 Africa to Exhibit High CAGR During Forecast Period

11 Competitive Landscape
11.1 Overview
11.2 Competitive Scenario
11.2.1 New Product Launches and Product Enhancements
11.2.2 Acquisitions, Partnerships, and Collaborations
11.3 Generative Design Market: Prominent Players

12 Company Profiles
12.1 Altair
12.2 Bentley Systems
12.3 Autodesk
12.4 Ansys
12.5 Desktop Metal
12.6 Dassault Systmes
12.7 MSC Software
12.8 ESI Group
12.9 Ntopology
12.10 Paramatters

For more information about this report visit https://www.researchandmarkets.com/research/93qbxj/generative_design?w=5

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