Global generative design market is anticipated to grow at a significant CAGR of 17.4% during the forecast period (2024-2031). The market growth is driven by the rising adoption of AI-driven product engineering across industries. The additional benefits of Generative AI such as streamlining development, enhancing efficiency, and fostering innovation to cater to the growing consumer demands are contributing significantly to the market growth.
The global generative design market is segmented by deployment mode (cloud-based and on-premises), by application (product design and engineering, cost optimization, and others), by industry vertical (automotive, aerospace and defense, architecture and construction, manufacturing, healthcare, and consumer goods), and by geographies (North America, Europe, Asia-Pacific, and Rest of the World).
Market Dynamics
- The architecture and construction segment holds the majority market share in the generative design market owing to its complex design processes and the integration of generative design for streamlined project planning, improved sustainability, and cost reduction.
- Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period, owing to increasing advancements in manufacturing technologies, rising adoption of automation, supportive government initiatives, and collaborations between industry players and academic institutions in the region.
- North America holds a significant market share in generative design is attributed to its robust technological infrastructure and high adoption of advanced design methodologies. Additionally, the region's strong investment in advanced technologies further propels the market. stment in advanced technologies further propels the market.
The major players in the global generative design market include Functionize Inc., mabl Inc., Sauce Labs Inc., Tricentis, Keysight Technologies, Inc., Applitools Ltd., and others. The market players are contributing significantly to the market growth, by the adoption of various business strategies, such as collaborations, mergers and acquisitions, product portfolio diversification, and more.
Recent Developments
- In July 2024, Siemens AG launched AI-enabled and generative design capabilities in Siemens’ NX™ software. The software features tools such as topology optimization, lattice designer, and implicit modeling, for optimizing designs and creating complex geometry beyond the capabilities of traditional CAD methods.
- In January 2024, a Research Engineer for the Instrument Systems and Technology Division at NASA Goddard Space Flight Center shared insights into how NASA uses generative design and AI to produce exciting new components for spaceflight structures, at the Autodesk University session.
- In NOVEMBER 2023, Synopsys, Inc., announced the expansion of its Synopsys.ai™ EDA suite, to harness generative AI to improve engineering productivity for the semiconductor industry. The company will deliver Synopsys.ai GenAI capabilities for chip design.