North America to Witness Extensive Adoption of Generative Design Software through 2024

Rising need for advanced design software to drive product innovation is expected to boost global generative design market through 2024

According to TechSci Research report, “Global Generative Design Market By Component, By Deployment Mode, By Application, By Vertical, By Region, Competition, Forecast & Opportunities, 2024”, global generative design market is projected to grow at a CAGR of over 13% during 2019-2024, on the back of high demand for advanced design software and enhanced production efficiency. Using artificial intelligence and cloud computing, generative design enables engineers to create thousands of design software, promoting the growth of the generative design market, globally.   

Dassault Systèmes SE, Autodesk, Inc., Desktop Metal, Inc., Ntopology Inc., Altair Engineering Inc., Bentley Systems, Ansys, MSC Software, ESI Group and Paramatters are among the leading players operating in global generative design market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. In 2018, Desktop Metal launched Live Parts, latest version of the 3D printing generative design software tool.

Browse 20 market data Tables and 108 Figures spread through 110 Pages and an in-depth TOC on “Global Generative Design Market “

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In terms of component, software segment accounted for the largest market share in 2018, as it helps to improve the production efficiency. On the basis of application, production design & development segment is expected to dominate the market, as it can produce a wide range of complex design alternatives in minimal time. Generative design market caters to various verticals such as automotive, aerospace & defense, industrial manufacturing and others. Automotive vertical is likely to lead the generative design market during the forecast period, owing to increasing implementation of generative design in virtual environment to test and analyze the product design. Moreover, increasing demand for reducing production and material cost would drive the use of generative design tools in automotive sector in the coming years.

 “North America dominated global generative design market in 2018 and the region is expected to continue its market dominance during the forecast period, owing to the early adoption of technology and growing awareness pertaining to these solutions. Moreover, presence of large number of vendors offering generative design solutions and services in countries like the US and Canada is expected to have a positive impact on the region’s generative design market.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Generative Design Market By Component, By Deployment Mode, By Application, By Vertical, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global generative design market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global generative design market.

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