Global Industrial Design Market Growth (Status and Outlook) 2024-2030
Industrial Design market size was valued at US$ 42170 million in 2023 and is estimated to reach US$ 61340 million by 2030 with a CAGR of 5.5% during review period.
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According to Publisher’s latest study, the global Industrial Design market size was valued at US$ 42170 million in 2023. With the growing demand in the downstream market, Industrial Design is forecast to a readjusted size of US$ 61340 million by 2030 with a CAGR of 5.5% during review period.
Market Overview
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A Bonafide Research industry report provides in-depth market analysis, trends, competitive insights, and strategic recommendations to help businesses make informed decisions.
The research report highlights the growth potential of the global Industrial Design market. Industrial Design is expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Industrial Design. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Industrial Design market.
This report studies the Industrial Design market. Industrial design is a process of design applied to products that are to be manufactured through techniques of mass production. This report covered Product Design, Model Design and Fabrication, User Interface and Interaction Design and Other Industrial Designs.
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Manmayi Raval
Research Consultant
Market Drivers: Technological Advancements: The industrial design market is transforming thanks to the incorporation of cutting-edge technologies like 3D printing, virtual reality (VR), and artificial intelligence (AI) into the design process. These technological advancements boost both utility and aesthetics by allowing designers to produce more intricate and inventive goods.
Growing Customer Demand for Innovation: Customers are looking for products that are both distinctive and aesthetically pleasing more and more. The need for unique products that stand out in the marketplace is pushing businesses to spend money on industrial design to get a competitive edge.
Emphasis on User Experience: In product design, the significance of user experience has increased dramatically. User-centric designs that satisfy functional needs and offer a smooth and engaging user experience are becoming increasingly important to companies. The automobile and consumer electronics industries are two areas where this trend is very noticeable.
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Sustainability and Eco-friendly Designs: Industrial design is being impacted by the increased focus on environmental responsibility and sustainability. To lessen their influence on the environment, businesses are applying eco-friendly design techniques, employing eco-friendly materials, and putting a strong emphasis on product lifecycle management.
Globalization and Market Development: The need for industrial design services is being driven by the development of multinational corporations into new areas and the globalization of markets. Businesses are looking for design solutions that address the needs of local markets as well as a range of cultural preferences.
Challenges- High Costs of Innovation: Creating original, superior ideas can be costly, involving a large investment in cutting-edge technologies, research, and development. For small and medium-sized businesses (SMEs) looking to compete in the market, high expenses may be a hindrance.
Intellectual Property Issues: In the market for industrial design, safeguarding intellectual property rights is essential. Strong legal frameworks and enforcement procedures are necessary to guarantee that designs are not replicated or infringed upon.
Rapid technical Changes: Businesses may find it difficult to stay ahead of the curve and consistently innovate due to the rapid speed of technical breakthroughs. Maintaining a competitive edge necessitates ongoing adjustment and acquisition of novel technologies.
Cultural and Regional Differences: Creating products for international markets requires an awareness of various regional demands and cultural preferences. Design modifications to satisfy these different needs can be difficult and resource-intensive.
Market Forecasts and Future Outlook: The increasing desire for innovation by consumers, technological improvements, and the growing significance of sustainability are expected to propel the worldwide industrial design market's robust rise between 2024 and 2030. The market's future will be shaped by the emphasis on personalization, eco-friendly designs, and user experience.
Opportunities: Growth into Emerging nations: There are a lot of prospects for industrial design services in emerging nations due to the expanding middle class and rising disposable incomes. Businesses can enter these markets by providing specialized design solutions that take into account regional tastes.
Co-creation and Collaboration: Including stakeholders, customers, and other businesses in the design process can result in more creative and user-focused final products. Initiatives aimed at co-creation can boost innovation and propel a product to market.
Sustainable Design Solutions: There is a growing market for environmentally friendly and sustainable products, which presents designers with chances to create cutting-edge solutions with minimal negative effects on the environment. Prioritizing sustainability can draw in eco-aware customers and improve a brand's reputation.
Digitalization and Automation: By utilizing automation and digital tools, the design process can be streamlined, increased productivity, and expenses decreased. Designers can quickly develop goods and experiment with new ideas thanks to digital platforms.
Customization and Personalization: Providing options for a customisable and personalized design will help satisfy the increasing demand from customers for one-of-a-kind, specially made goods. In the areas of consumer electronics, furnishings, and fashion, this trend is especially pertinent.
Market Segmentation:
Industrial Design market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of value. In terms of product, Product Design is the largest segment, with a share over 60%. In terms of application, the largest application is Household, followed by Transportation, Electronics, Machinery & Equipment, etc.
1. Segmentation by type
• Product Design
• Model Design and Fabrication
• User Interface and Interaction Design
• Other Industrial Design
2. Segmentation by application
• Transportation
• Electronic
• Household
• Machinery & Equipment
• Consumer Goods
• Healthcare (medical)
• Other
Regional Insight: The existence of top technology companies and a fiercely competitive consumer market create the significant demand for creative and user-centric designs in the North American market. Americas and Canada are important markets with an emphasis on incorporating cutting-edge technologies into the process of design. Europe: With a focus on sustainability and aesthetic appeal, Europe continues to be a major market for industrial design. Leading nations in automotive and consumer goods design, with an emphasis on premium, environmentally friendly products, are Germany, France, and the United Kingdom. Significant growth is anticipated in the Asia-Pacific region due to the region's fast industrialization, urbanization, and growing number of manufacturing hubs. Key contributors include China, Japan, and South Korea, whose investments in innovation and technology are rising. Latin America and the Middle East and Africa are growing as a result of growing consumer expenditure, a rise in economic activity, and the development of the manufacturing sector. Brazil, Mexico, and the United Arab Emirates are becoming significant markets for industrial design services. China is the largest market, with a share of about 40%, followed by Europe and North America, both have a share of about 40 per cent.
1. Americas
• United States
• Canada
• Mexico
• Brazil
2. APAC
• China
• Japan
• Korea
• Southeast Asia
• India
• Australia
3. Europe
• Germany
• France
• UK
• Italy
• Russia
4. Middle East & Africa
• Egypt
• South Africa
• Israel
• Turkey
• GCC Countries
Competitive Landscape- Global Industrial Design key players include IDEO, Frog Design, Designworks, ARTOP GROUP, etc. Global top four manufacturers hold a share of about 0.7%. The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
• IDEO
• Frog Design
• Designworks
• ARTOP GROUP
• Designaffairs
• Ammunition Group
• ZIBA Design
• Fuse Project
• PDD
• LUNAR
• R&D Design
• GK Design Group
• RKS
• BUSSE Design
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Industrial Design Market Size 2019-2030
2.1.2 Industrial Design Market Size CAGR by Region 2019 VS 2023 VS 2030
2.2 Industrial Design Segment by Type
2.2.1 Product Design
2.2.2 Model Design and Fabrication
2.2.3 User Interface and Interaction Design
2.2.4 Other Industrial Design
2.3 Industrial Design Market Size by Type
2.3.1 Industrial Design Market Size CAGR by Type (2019 VS 2023 VS 2030)
2.3.2 Global Industrial Design Market Size Market Share by Type (2019-2024)
2.4 Industrial Design Segment by Application
2.4.1 Transportation
2.4.2 Electronic
2.4.3 Household
2.4.4 Machinery & Equipment
2.4.5 Consumer Goods
2.4.6 Healthcare (medical)
2.4.7 Other
2.5 Industrial Design Market Size by Application
2.5.1 Industrial Design Market Size CAGR by Application (2019 VS 2023 VS 2030)
2.5.2 Global Industrial Design Market Size Market Share by Application (2019-2024)
3 Industrial Design Market Size by Player
3.1 Industrial Design Market Size Market Share by Players
3.1.1 Global Industrial Design Revenue by Players (2019-2024)
3.1.2 Global Industrial Design Revenue Market Share by Players (2019-2024)
3.2 Global Industrial Design Key Players Head office and Products Offered
3.3 Market Concentration Rate Analysis
3.3.1 Competition Landscape Analysis
3.3.2 Concentration Ratio (CR3, CR5 and CR10) & (2022-2024)
3.4 New Products and Potential Entrants
3.5 Mergers & Acquisitions, Expansion
4 Industrial Design by Regions
4.1 Industrial Design Market Size by Regions (2019-2024)
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