According to the new market research report "Generative Design Market by Application (Product Design & Development and Cost Optimization), Component, Deployment Model, Industry Vertical (Automotive, Aerospace & Defense, Industrial Manufacturing), and Region - Global Forecast to 2023", The generative design market size is expected to grow from USD 111 million in 2018 to USD 275 million by 2023, at a CAGR of 19.9% during the forecast period.
The key factors driving the generative design market include the rising need for advanced design software to drive product innovation, the growing demand for environment-friendly architecture, and enhanced production efficiency.
Report Objectives
• To define, describe, and forecast the size of the generative design market based on application, component, deployment mode, industry vertical, and region
• To provide detailed information about major factors, such as drivers, restraints, opportunities, and challenges influencing the growth of the market
• To analyze the market’s subsegments with respect to individual growth trends, prospects, and contributions to the total market
• To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market
• To forecast the revenue of the market’s segments with respect to 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America
• To profile key players and comprehensively analyze their recent developments and position in the generative design market
• To analyze the competitive developments, such as mergers & acquisitions, partnerships, and new product developments in the market
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Recent Developments
• In January 2019, Autodesk has collaborated with HP and GE to develop generative design software tools compatible with 3D printers. This would help Autodesk to increase rapid prototyping for 3D-parts.
• In August 2018, Desktop Metal launched an updated version of 3D printing generative design software tool, Live Parts. The tool provides design engineers with enhanced design flexibility and light-weighting capabilities through advanced simulation and morphogenetic values.
• In December 2017, nTopology raised USD 7.6 million led by Data Collective, and Root Ventures in its equity funding round. This funding would help nTopology enhance its generative design software.
The generative design market comprises major solution providers, such as Autodesk (US), Altair (US), ANSYS (US), MSC Software (US), Dassault Systèmes (France), ESI Group (France), Bentley Systems (US), Desktop Metal (US), nTopology (US), and Paramatters (US) are some of the major players operating in the generative design market. The study includes an in-depth competitive analysis of these key players in the market with their company profiles, recent developments, and key market strategies. The players in this market have adopted different strategies to expand their global presence and increase their market shares. New product launches and upgradations; and partnerships, agreements, and collaborations, were most adopted strategies by the major players from 2016 to 2018, which helped them innovate on their offerings and broaden their customer base.

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