What are the Historical Developments and Current Growth Metrics of the Artificial Intelligence AI In Industrial Design Market?
The artificial intelligence ai in industrial design market has seen considerable growth due to a variety of factors.
• The market size of artificial intelligence (AI) within the realm of industrial design has seen momentous expansion recently. The market is projected to increase from $4.98 billion in 2024 to a value of $6.45 billion in 2025, with an impressive compounded annual growth rate (CAGR) of 29.5%.
This significant growth in the past years can be ascribed to factors such as the automation of design processes, reliance on data for decision making, enhancements in computational capacity, integration with CAD tools, tailored and personalized solutions, initiatives for reducing costs, and investments in research and development.
What Is The Projected Growth Of The Artificial Intelligence AI In Industrial Design Market?
The artificial intelligence ai in industrial design market is expected to maintain its strong growth trajectory in upcoming years.
• The market scale of artificial intelligence (AI) in industrial design is set to witness remarkable expansion in the coming years, predicted to burgeon to $17.99 billion by 2029 at a compound annual growth rate (CAGR) of 29.2%.
This surge during the forecast period can be allocated to the incorporation of industry 4.0, the uptake of smart manufacturing, sustainable and green designs, development of superior materials, improved simulation and testing procedures, joint design platforms, and prototyping powered by AI. Foreseen trends during this period encompass the utilization of AI for generative design, amalgamation with IoT, cloud-powered design solutions, augmented reality (AR) and virtual reality (VR) enhanced by AI, application of machine learning for anticipatory maintenance, AI-led quality check, and collaborations between humans and AI.
What Are the Critical Driver Fuelling The Artificial Intelligence AI In Industrial Design Market's Growth?
The escalating growth of artificial intelligence (AI) in the industrial design market is anticipated to be driven by the proliferation of smart manufacturing and Industry 4.0. This evolution signifies the amalgamation of avant-garde technologies and mechanization within manufacturing processes aimed at bolstering efficiency, flexibility, and productivity. The spotlight on Smart manufacturing and Industry 4.0 stems from an increasing need to ramp up operational efficacy, curtail production expenses, and enhance product eminence. AI in industrial design leverages smart manufacturing to refine production procedures, anticipate equipment malfunctioning, and improve product quality leveraging real-time data evaluation and automation. In a report issued by Conexus Indiana, a US-based manufacturing industry in December 2022, it was cited that the adoption of smart manufacturing and Industry 4.0 technologies surged by a substantial 35% compared to 2021. Concurrently, there was a 13% hike in companies with specified budgets for technological adoption and strategic roadmaps. Furthermore, with the usage rising from 24% to 27%, advanced modeling technologies were depicted as the predominantly adopted technologies. Hence, the blossoming of smart manufacturing and Industry 4.0 has become a catalyzer for artificial intelligence usage in the industrial design market.
What Are The Principal Market Segments In The Global Artificial Intelligence AI In Industrial Design Industry?
The artificial intelligence (AI) in industrial design market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment Mode: Cloud-Based, On-Premise
3) By Industry Vertical: Automotive, Consumer Electronics, Aerospace And Defense, Healthcare, Other Industry Verticals
Subsegments:
1) By Software: AI-Driven CAD (Computer-Aided Design) Tools, Generative Design Software, Simulation And Modeling Software, AI-Based Product Lifecycle Management (PLM) Software, AI-Powered 3D Rendering and Visualization Tools, AI-Based Design Automation Tools, AI-Driven Virtual Prototyping Software
2) By Services: AI Consulting and Strategy Services, AI System Integration And Implementation Services, AI-Based Design Customization Services, AI Maintenance And Support Services, Training And Education Services For AI Tools, Managed AI Design Services, Data Analytics Services For Design Optimization
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Which Emerging Market Trends Are Altering The Artificial Intelligence AI In Industrial Design Industry?
Prominent businesses involved in AI in the sphere of industrial design are creating sophisticated tools, including search tools, to increase design precision and productivity while decreasing time-to-market. These search tools use AI-powered image recognition and similarity algorithms to examine and compare visual components, enabling users to identify similar designs swiftly and facilitate registration. For example, in February 2024, Corsearch, a data-driven trademark and domain initiation and safeguarding company in the UK, unveiled its industrial design search tool, a part of its TrademarkNow platform. This AI-enabled tool streamlines the process of spotting and registering unique industrial designs. It gives professionals an edge by allowing quicker, more precise searches that primarily pay attention to a product's visual aspects rather than its functionality. The tool is structured to use similarity algorithms and offers users the ability to narrow down searches according to geographical regions and Locarno class characteristics.
Who Are the Key Players In The Artificial Intelligence AI In Industrial Design Market?
Major companies operating in the artificial intelligence (AI) in industrial design market are:
• Google LLC
• Microsoft Corporation
• Amazon Web Services Inc. (AWS)
• Siemens AG
• General Electric Company (GE)
• Intel Corporation
• International Business Machines Corporation (IBM)
• Oracle Corporation
• Honeywell International Inc.
• SAP SE
• NVIDIA Corporation
• Schaeffler Technologies AG And Co. KG
• Atos SE
• Rockwell Automation Inc.
• Dassault Systèmes SE
• Hexagon AB
• Autodesk Inc.
• Trimble Inc.
• Ansys Inc.
• PTC Inc.
• Teradata Corporation
• Bentley Systems Inc.
• Cognex Corporation
• Altair Engineering Inc.
• 3D Systems Corporation
What Are The Regional Insights Into The Artificial Intelligence AI In Industrial Design Market?
Asia-Pacific was the largest region in the artificial intelligence (AI) in industrial design market in 2024. The regions covered in the artificial intelligence (AI) in industrial design market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
