What Is The Current and Historic Market Size Analysis Of Generative Artificial Intelligence (AI) In Product Design Market?
The generative artificial intelligence (ai) in product design market has seen considerable growth due to a variety of factors.
• The market for generative artificial intelligence (AI) in product design has seen significant growth in the past few years. The market size, which is projected to balloon from $14.1 billion in 2024 to $15.84 billion in 2025, foresees a compound annual growth rate (CAGR) of 12.4%.
Factors such as the proliferation of educational programs, evolving consumer demands, more affordable design solutions, the capability to adjust designs in real-time, and the universal adoption of design principles, have all contributed to the market's growth in the historic period.
What Is The Forecast For The Generative Artificial Intelligence (AI) In Product Design Market By 2029?
The generative artificial intelligence (ai) in product design market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for generative artificial intelligence (AI) in product design is anticipated to expand rapidly in the forthcoming years. The market value is projected to reach $24.99 billion in 2029, with a compound annual growth rate (CAGR) of 12.1%.
The significant growth during this period can be attributed to various factors including a greater emphasis on sustainability, rising recognition of industrial design, an increase in computational power, expansion of educational programs, and growing public awareness and acceptance. During this forecast period, prevalent trends will include the integration of multimodal data, improved text generation, the incorporation of quantum computing, design of AI-enhanced user experience (UX), and the fusion of cross-disciplinary design.
Which Key Drivers Are Propelling Th Generative Artificial Intelligence (AI) In Product Design Market's Growth?
The increasing focus on smart infrastructure projects is anticipated to drive the expansion of the generative artificial intelligence (AI) in the product design market in the future. Such smart infrastructure initiatives utilize cutting-edge technologies and data-led strategies to enhance the design, administration, and management of infrastructure systems. The rising focus on smart infrastructure projects stems from the need to manage population growth efficiently with sustainable urban development and advancements in Internet of Things (IoT) technology that allows real-time monitoring and data-based decision making. Generative AI in product design contributes to smart infrastructure projects by refining design processes, enabling the development of innovative, efficient solutions through quick analysis of large data sets and simulation of different situations. For example, in July 2024, reported by the Office for National Statistics, a UK government department, the digital infrastructure investment in 2022 summed up to $12.4 (£9.2) billion, indicating a 22.9% increase compared to 2021. Consequently, the increasing emphasis on smart infrastructure projects is propelling the expansion of the generative artificial intelligence (AI) in the product design market.
How Is The Globa Generative Artificial Intelligence (AI) In Product Design Market Divided Into Key Segments?
The generative artificial intelligence (AI) in product design market covered in this report is segmented –
1) By Deployment Model: Cloud-Based, On-Premises
2) By Application: Design Exploration And Ideation, Design Optimization And Simulation, Customization And Personalization, Other Applications
3) By End-User: Automotive Manufacturers, Healthcare And Medical Device Manufacturers, Contraction And Architecture Firms, Other End-Users
Subsegments:
1) By Cloud-Based: Public Cloud, Private Cloud, Hybrid Cloud
2) By On-Premises: Small And Medium Enterprises (SMEs), Large Enterprises
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What Trends Are Reshaping The Generative Artificial Intelligence (AI) In Product Design Market?
Major businesses in the generative artificial intelligence (AI) in product design sector are innovating with superior solutions like generative AI for digital product design to streamline the designing process across different industries. The generative AI for digital product design involves employing AI technology to aid in the invention and formation of digital merchandise like websites, apps, and user interfaces. As an example, Flytxt, a Netherlands-based AI-driven SaaS solutions provider, introduced a Generative AI tool aimed at improving digital product design by facilitating quicker and more efficient development of high-performing products in June 2023. This groundbreaking tool caters to the hurdles in rapidly developing top-performing products. It conducts a programmatic assessment of different product designs to pinpoint the most ideal choices, streamlining price points, product characteristics, and package options to fulfill business goals like revenue augmentation and customer hold. The application of generative AI is significant in its potential to offer decision-making transparency, enabling product heads to inspect and comprehend the logic behind AI-engineered designs prior to product launches.
Who Are the Key Players in the Generative Artificial Intelligence (AI) In Product Design Market?
Major companies operating in the generative artificial intelligence (AI) in product design market are include:
•Microsoft Corporation
• Amazon Web Services Inc.
• Siemens AG
• International Business Machines Corporation (IBM)
• NVIDIA Corporation
• Adobe Inc.
• Dassault Systèmes SE
• Hexagon AB
• Autodesk Inc.
• ANSYS Inc.
• PTC Inc.
• Unity Technologies Inc.
• Bentley Systems Incorporated
• Altair Engineering Inc.
• Xometry Inc.
• SparkCognition Inc.
• AI21 Labs Ltd.
• Cohere Inc.
• GeekyAnts Inc.
• LeewayHertz Inc.
• nTopology Inc.
• Onshape Inc.
• DataToBiz Inc.
• Markovate Inc.
• Hacarus Inc
What are the Regional Insights into the Generative Artificial Intelligence (AI) In Product Design Market?
North America was the largest region in the generative artificial intelligence (AI) in product design market in 2024. The regions covered in the generative artificial intelligence (AI) in product design market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
