Analysts have predicted that the generative design market will register a CAGR of over 16% by 2023.
The availability of trial or free versions of generative design is one of the critical factors that will trigger the growth of the global generative design market during the forecast period. Trial versions have limited features designed to give enterprises a chance to try and test the software and then decide whether to buy it or not. Many enterprises, especially SMEs that are keen on expanding their businesses at a low cost, opt for trial or free version of generative design solution before investing.
It is encouraging vendors in the market to launch trial or free versions of their generative design solution to cater to the growing demand, which, in turn, will help them to gain market share. Thus, the availability of a trial or free version of generative design solution will attract more enterprises to try this solution. As a result, some enterprises may choose to purchase the solution as it will help them in improving their efficiency, and thereby driving the market growth.
Acceleration of project speed
Inability to complete the projects on time and within the budget are the major problems faced by enterprises in industries such as construction and manufacturing. Traditionally, engineering division used to create the designs of the product manually. Whereas, generative design can generate a large number of designs, which will also be optimized according to the predefined conditions and restraints, very quickly as compared with the traditional process.
Thus, it will enable enterprises to quickly select the optimal design based on their requirement, which, in turn, will help them in spending more time and resource in their manufacturing or construction projects. The generative design solution is also capable of rapidly changing the designs according to customer requirements. Thus, enterprises do not have to wait for long to get designs due to a change in customer requirements. Hence, it will lead to an increase in the project implementation speed. All these factors will increase the demand for generative design during the forecast period.
Issues due to manufacturing capability constraints
The primary focus of generative design solution is to provide enterprises with the best shape or topology of the product based on their inputs. Some of the shapes produced by generative design solutions might look good but might not be practical to implement. This is due to the limitation of manufacturing capability with the enterprises. The shape might look optimal, but sometimes it might not be possible to build it due to limitations of the manufacturing process.
Even if the enterprises manufacture the product despite the restriction, it can lead to a gap between the design and the manufactured product. Thus, it can lead to failure of the product during the use. Hence, it may hinder the market growth during the forecast period.
The market appears to be moderately fragmented. The presence of several companies, including Altair Engineering Inc. and ANSYS Inc., makes the competitive environment quite intense. Factors such as the growing demand from automotive industry and the availability of trial or free version of generative design will provide considerable growth opportunities to the generative design manufacturers.
Autodesk Inc., Dassault Systmes SE, and Desktop Metal Inc. are some of the major companies covered in this report.
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY COMPONENT
- Market segmentation by component
- Comparison by component
- Software - Market size and forecast 2018-2023
- Service - Market size and forecast 2018-2023
- Market opportunity by component
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2018-2023
- Europe - Market size and forecast 2018-2023
- APAC - Market size and forecast 2018-2023
- South America - Market size and forecast 2018-2023
- MEA - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Use of artificial intelligence (AI) with generative design
- Integration of 3D printing with generative design
- Increasing popularity of cloud-based generative design solution
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Altair Engineering Inc.
- ANSYS Inc.
- Autodesk Inc.
- Dassault Systmes SE
Desktop Metal Inc.
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