Generative Design Software Market Projections Deliver Positive Revenue Growth during the Period between 2018-2028
July 2, 2019 by Steve Blade
There has been a surging demand for novel design software to fuel innovation in the product development process in various industries such as aerospace, automotive, manufacturing, etc., which has resulted in the sales of generative design software.
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With the advent of Artificial Intelligence (AI), the generative design software have been gaining popularity among numerous architects, designers, and engineers, owing to its nascent competency to offer a wide range of combinations based on the parameters set according to the requirement. The software managers can filter through the designs and select the most feasible solution, which has in turn helped in the efficient time management during the production process. A host of these factors are expected to drive promising growth prospects for the Generative Design Software Market, which surpassed a value of US$ 110 Mn in 2018 and continues to grow at a steady pace.
Some of the significant players operating in the generative design software market include Paramatters, nTopology, Desktop Metal, Bentley Systems, ESI Group, Dassault Systèmes, MSC Software, ANSYS, Altair, Autodesk, GRM Consulting, Siemens, and PTC.
In January 2019, Autodesk entered into a collaborative partnership with GE and HP for the development of generative design software that possess excellent compatibility with the 3D printers. Such a software is capable of working directly with 3D printers which makes it user-friendly. Using the software, the company will be able to deliver predictive insights during the early stages of design.
In August 2018, Desktop Metal joined forces with Dassault Systemes for the development of a novel generative design tool – Live Parts. The aim of the technology is to simplify the generative designs for 3D printing. The software will help in the development of lightweight and strong parts through which the end-users can optimize the full efficiency of 3D potential associated with the cost, materials, as well as design flexibility.
In Dec 2017, nTopology raised nearly US$ 8 Mn during its equity funding round, which will enable the company in ameliorating its generative design software and help in enhancing the intuitive design functionality.
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With the penetration of technology in the automotive sector, the manufacturers operating in the market are naturally pushed to keep up with the changing dynamics. Ease of use coupled with the time and cost-efficiency offered by the software for the development of the prototype of various complex components is anticipated to drive the sales of the generative design software.
Generative design software offers a combination of solutions using design parameters such as size, weight, materials, manufacturing methods, and cost constraints, which enables the designers to validate the options and select the one that closely suits the needs. Additionally, the software cuts down the cost spent on labor and the excess time involved in the cutting, fixturing, welding, and assembling of various parts. With the enhanced development experience of the manufacturers, the growth of the generative design software market is expected to remain bullish in the forthcoming years.
North America to Remain a Leading Generative Design Software Market
North America is anticipated to hold promising growth prospects for the generative design software market. Technological advancements in the region followed by developed IT infrastructure enables the manufacturers of the generative design software market to devise innovation and upgrade their offering. Growing awareness pertaining to the software and the benefits provided by them is expected to fuel the adoption rate of these devices. Additionally, a high concentration of key players in this region and their streamlined distribution channels are expected to deliver sustained growth opportunities to the generative design software market in North America in the forthcoming years.
Complexity in the Utilization of Generative Design Software Could Deter Market Growth
A large number of end-users face challenges pertaining to the utilization of generative design software, which reduces its desirability and in turn impacts the sales of the software. Reluctance towards the adoption of the software is witnessed among the end-use industries, owing to the need to revamp the entire infrastructure, which is anticipated to act as a growth deterrent for the generative design software market. Complexities encountered during the integration of the software further causes hesitance among the end-users, which could impede the growth of the generative design software market.
The research report presents a comprehensive assessment of the generative design software market and contains thoughtful insights, facts, and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to generative design software market segments such as geographies, application and industry.
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