Industrial Design Market will Survive COVID-19 Outbreak with Ongoing Rising Share, Key Players, Trends, Demand, Analysis & Forecast to 2025

iCrowd Newswire
31 Jul 2020, 05:54 GMT+10

The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Industrial Design Market. The growth sectors of the Industrial Design Market are identified with precision for a better growth perspective.

The industrial design market has been growing steadily over the last couple of decades. Factors that are predominantly driving the growth in the market include the growing investment in computer-aided designs and engineering.

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Moreover, factors such as the increasing incorporation of the Internet of Things (IoT) among industrial sectors are escalating the market globally, making production processes easier and smoother.

According to Market Research Future (MRFR), the global industrial design market is expected to accrue a value of USD 61,786.7 MN by 2025, registering a CAGR of 5.85% over the forecast period (2018-2025). In 2013, the market had valued at USD 32,546.5 MN. Increasing environmental awareness among heavy industries influenced by factors such as the Green engineering initiatives is a major driving force behind the market growth.

Additionally, trends such as the environmental viability of manufacturing processes alongside the use of environmentally feasible, renewable energy sources in the production of the designed products would foster the growth of the market.

Furthermore, factors such as the increasing adoption of IoT applications in the manufacturing sector all over the world are positively impacting the market growth, efficiently enabling automation of industrial processes.

As states by the World Design Organization, industrial design is a strategic approach for problem-solving. It drives innovation and establish business success. Innovation in services, systems, products, and experiences promising a better life is achieved via industrial design. Industrial design links innovation, research, technology, and business to serve customers with added new value and competitive advantage across diverse social, economic, and environmental spheres. Innovations, born of necessity, shape the mankind.

New line products not only avail greater benefit to consumers, but also add competitive advantage to the producer. In March 2020 - Matternet, a world class developer of urban drone logistics platform in CA, announced the new Matternet Station. This delineates the bright future of autonomous aerial systems, redefining industrial design.

The industrial design market can be driven by several forces. In a world ran by machines, humans seek connection. The design of any product should not only be diverse, but should induce emotion in the purchaser. The inclination of buyer towards a better perceivable design can prompt the expansion of the industrial design market. The rise in the worldwide industrial design market can be attributed to the introduction of energy efficient designs. Manufacturers are concerned to curb energy consumption in production.

Alongside, consumers are focusing on carbon footprint reduction and decrease in power bills. The need to improve production threshold of industrialists and slash environmental hazards are increasing the adoption of industrial design solutions. Technological assistance can underpin the expansion of the industrial design market. The application of CAD and big data technology in industrial design can prompt its market.

Computer-aided engineering (CAE) technology allows designers virtual simulation and optimization of their designs. This facilitate testing and subsequent improvements. The technology was only available to big-budget corporations, such as aviation and automotive. Currently, the penetration of CAE in small and medium companies can boost the industrial design market growth. CAE aids to create more efficient and error-free designs in less expense and time. Advantages, such as allowance for easier testing, better prototyping, and faster validation can gain considerable traction. This can leverage the industrial design market growth.

Google Material Design, Figma, and Subform are some sophisticated tools that can redefine industrial design solutions. The utility of these advanced digital responsive design solutions can assist the development of energy efficient designs. Virtual Reality (VR) and augmented reality (AR) are other technologies that can cast a strong impact on the industrial design market. While VR can assist in the development of better visualize assistance, AR can provide insights on the technicality of a design, thus boosting the convenience in manufacturing.

With the rise in demand for cost and energy efficient, perceivable designs the industrial design market valuation is likely to surge. The growing interest for gadgets with powerful performance and better stylish can contribute to the secure the global foothold for the market.

Major Players:

Key players leading the global industrial design market include Altran Technologies SA (France), IDEO LLC (US), Designworks (BMW AG), Accenture PLC (Ireland), ARTOP Group (China), Ammunition Group (US), BlueFocus Intelligent Communications Group Co. Ltd. (China), Ziba Design (US), PDD Group Ltd. (UK), R&D Design (US), LUNAR Design (US), GK Design Group (US), Busse Design (US), and RKS Design (US) among others.

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