Generative design is a design exploration process. Performance or spatial requirements, materials, manufacturing methods, and cost constraints are some of the parameters that are inserted into the generative design software with specific design goals by the designers or the engineers.
Statistics:
The generative design market was valued at US$ 1.88 Bn in 2021 and is forecast to reach a value of US$ 9.04 Bn by 2030 at a CAGR of 20% between 2022 and 2030.
Figure 1: Global Generative Design Market Value (US$ Bn) Analysis and Forecast, 2017 - 2030
To learn more about this report, request a free sample copy
Key Developments:
In March 2021, The Company ALTAIR ENGINEERING INC, declared the release of the Thea Render version 3.0. The Thea Render is the 3D renderer that is 3D which features the state of art and the unbiased graphic processing unit’s engines.
In February 2021, Altair declared that it had adopted the Flow Simulator from the GE Aviation. Flow simulator is an integrated flow, combustion design software and the heat transfer which lets the mixed fidelity simulations to decrease the machine and the system design. The relationship comprises of the Altair’s continuous development of the Flow Simulator.
North America held dominant position in the Global Generative Design Market Share in 2021, accounting for 39.0% share in terms of volume.
Figure 1: Global Generative Design Market Share (%), By Region, 2021
To learn more about this report, request a free sample copy
Market Drivers:
Driver 1:
The growing demand for advanced manufacturing with complex designs, and the need to reduce the size while improving the performance of automotive is expected to drive the growth of global generative design market. It compels automotive manufacturers to increase their R&D investments and adopt generative designing which fuels the market’s growth.
Driver 2:
Companies are significantly putting efforts to achieve better results in the designs. It is expected to drive the growth of global generative design market. For instance, Autodesk Advanced Consulting and General Motors have been working in collaboration on the future of design in order to create new vehicles.
Generative Design Market Report Coverage
Report Coverage | Details | ||
---|---|---|---|
Base Year: | 2021 | Market Size in 2021: | US$ 1.88 Bn |
Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 |
Forecast Period 2022 to 2030 CAGR: | 20% | 2030 Value Projection: | US$ 9.04 Bn |
Geographies covered: |
|
||
Segments covered: |
|
||
Companies covered: |
Altair Engineering Inc., Dassault Systèmes SE, Bentley Systems Inc., Caracol AM, Autodesk Inc., MSC Software Corporation (Hexagon AB), Diabatix, ANSYS Inc., Paramatters, Desktop Metal Inc. and nTopology Inc. |
||
Growth Drivers: |
|
||
Restraints & Challenges: |
|
Market Restraint:
Restraint 1:
Generative design is in an initial stage of development, which means that early users may come across specific challenges. This is anticipated to hinder the growth of global generative design market. For instance, precisely defining a design problem in computable terms, which generative design software has to solve, will include a steep learning curve.
Restraint 2:
Engineers inexperienced with revealing the design problem as a set of parameters may end up with loosely defined structural restraints or loads, which will ultimately lead in a failed design. This is further expected to hinder the growth of generative design market.
Market Opportunities:
Opportunity 1:
The extensive use of generative design software in various end use industries around the world is anticipated to propel the growth of global generative design market. For instance, it is employed in the automotive industry for manufacturing lightweight components and consolidating parts. This, along with the boosting sales of passenger and commercial vehicles on account of rapid urbanization and enhancing income levels, is offering lucrative opportunities in the growth of generative design market.
Opportunity 2:
Various manufacturers operating in the aerospace industry are depending upon generative design software to decrease aircraft weight, minimize environmental impact, and improve passenger safety. Besides this, the growing popularity of drones is fueling the use of generative design software to improve their aerodynamic efficacy and durability and enhances the lifespan and flight performance. This is expected to boost the growth of the global generative design market.
Market Key Takeaways/Trends:
Trend 1:
The rising demand for consumer goods and the thriving construction industry, are positively influencing the demand for generative design software. It is used to generate multiple computer-aided designs (CADs) and drive innovation and productivity. This is expected to act as a positive trend in the growth of global generative design market.
Trend 2:
The growing need of lightweight vehicle product has created demand for generative design technology. This is expected to act as a key trend in the growth of global generative designs market. For instance, in 2019, Volkswagen Group unveiled a vintage VW Microbus, which is retrofitted with various reconceptualized components generated by generative design technology.
Competitive Landscape:
Major companies involved in the global generative design market are Altair Engineering Inc., Dassault Systèmes SE, Bentley Systems Inc., Caracol AM, Autodesk Inc., MSC Software Corporation (Hexagon AB), Diabatix, ANSYS Inc., Paramatters, Desktop Metal Inc. and nTopology Inc.
Frequently Asked Questions
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients