Generative Design Market vendors by Share & Growth Strategies - 2023 | MarketsandMarkets
- dheeraj pawar
- Aug 31, 2020
- 2 min read
According to a 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.
Browse 56 market data Tables and 28 Figures spread through 105 Pages and in-depth TOC on "Generative Design Market - Global Forecast to 2023"
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North America is expected to account for the largest market size during the forecast period
North America is expected to lead the market for generative design during the forecast period. It is the most advanced region in terms of technology adoption and IT infrastructure. The presence of key vendors of generative design vendors, as well as the widespread awareness about these solutions, are factors expected to drive the market during the forecast period.
Market Players
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). The study includes an in-depth competitive analysis of these key players in the generative design market with their company profiles, recent developments, and key market strategies.
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Autodesk is one of the leading players in the generative design market with a global presence. The company has a balanced growth strategy in the market, including strategic alliances with the key generative design solution providers and niche players diversifying its generative design product portfolio and increasing the company’s market reach. For instance, Autodesk collaborated with HP and GE to develop generative design software tools compatible with 3D printers in January 2019. This would help Autodesk to increase rapid prototyping for 3D-parts. In April 2018, Autodesk added generative design capabilities to its existing Fusion 360 tool, which is a 3D CAD, CAM, and Computer-aided Engineering ("CAE") tool.
Altair provides a standalone generative design solution, OptiStruct to its global customers. The company adopted strategies such as acquisitions and new product launches to strengthen its position in the market. In December 2018, Altair acquired Datawatch, a data intelligence company to create new possibilities in the generative design market. The acquisition is expected to help Altair to enhance its market value by collaborating its simulation technology with Datawatch’s competencies in data science.
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