Generative design supports topology optimization for performing structural simulation and removing load-weight from empty areas in three-dimensional models. Currently, generative design is adopted across the globe as it helps in reducing component weight and simplifying the design.
Statistics:
The global generative design market is estimated to account for US$ 2.11 Bn in terms of value by the end of 2022.
Drivers:
Advanced technologies decrease industry fragmentation, increase efficiency, and reduce the high costs of insufficient interoperability. Advancements in big data, IoT, AI, and ML, among other technologies are expected to propel the growth of global generative design market.
Opportunities:
Building Information Modeling (BIM) is rapidly becoming a standard in the architecture and construction industries. BIM is a virtual design tool for developing a set of interconnected policies, and technologies. It is a technique for managing significant building design and project data in digital format, with many benefits. This is expected to create many opportunities in the growth of global generative design market.
Recent Development:
In January 2021, Altair signed an agreement or the MoU with Rolls Royce Germany to partnership connected Artificial Intelligence and the engineering. It is to derive business value over the Rolls Royce engineering, trail and the design of the aerospace engines.
Restraint:
There is a significant gap between students' and employers' opinions of the significance of design abilities, problem-solving skills, and expertise in the specific areas. Because of the intricacy involved in using the software. This is expected to hinder the growth of the global generative design market.
Global Generative Design Market - Impact of Coronavirus (Covid-19) Pandemic
The Covid-19 outbreak has led the production sector to recheck its traditional production and manufacture process, initially driving digital change and developed manufacturing practice over the production lines. Few practices are the deployment of the robots and the adoption of the 3D printing and the additive manufacturing end generative design production technologies.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/generative-design-market-5141
Key Takeaways:
The global 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 CARG of 20% between 2022 and 2030.
On premise Segment held the dominant position in the global generative design market in 2022, accounting for 68.2% share in terms of value, increasing approval and launch of new products is expected to propel the growth of the segment during the forecast period.
Key Trends:
Trend 1
The generative design targets on an improved approach to engineering that was previously unavailable in digital contexts. The procedure closely resembles an evolutionary approach to design, taking into account all of the necessary traits. In addition, when high-performance computing and the cloud are combined, the industry has seen previously unimaginable capabilities. This is expected to act as a major trend in the growth of global generative design market.
Trend 2
Modern technologies are replacing traditional ways. Digital simulation and analysis software has developed to the point that designs can currently be reviewed in less than a second. With no operator interaction, complex algorithms can automatically change the geometry of a part between simulations. This is expected to act as a major trend in the growth of global generative design market.
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.
