Industrial Design Market trends
Urbanization and industrialization were the institutional causes for industrial design. In the 18th century, while the Great Britain was experiencing industrial revolution, the increase in consumption due to rise of industry verticals and growing urban populace created the need for mass production. In addition, due consumers demanded more convenient design of objects.
In present times, these establishment factors have become a common phenomenon, thus the industrial design market is likely to surge in the coming period. Market Research Future (MRFR), a company identified by their reliable market research report, is expected to expand at 5.85% CAGR by 2025. In 2013, the industrial design global market was valued at USD 32,546.5 Mn. Since, the worldwide market of industrial design has increased in its worth. As per MRFR analysis, the industrial design market is estimated at USD 61,786.7 Mn by 2025.
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.
Global Industrial Design Market – Segments
There are three key dynamics that the market is segmented into;
By Type : Product Design, Model Design & Fabrication, User Interface & Interaction Design, among other industrial designs.
By Application : Transportation, Electronic, Household, Machinery & Equipment, among others.
By Regions : North America, Europe, Asia Pacific, and the Rest-of-the-World.
Global Industrial Design Market – Regional Analysis
The Asia Pacific region would remain its dominance over the global industrial design market, witnessing the growing investment in the industrial sector in rapidly emerging countries such as China, Japan, Korea, and India. Factors such as the increasing adoption of IoT solutions alongside the industrial revolution 4.0 and the rapid industrialization in the region would benefit the growth of the market.
The region represents enormous growth opportunities for market players with the untapped market for the IoT industry, which are likely to emerge as leading consumers of IoT solutions over the coming years.
Global Industrial Design Market – Competitive Analysis
Highly competitive, the industrial design market appears to be highly fragmented owing to the presence of several well-established as well as small players active in the market. Key strategies traced from the analysis include product launch, agreement & partnership, acquisition, and expansion.
Strategic partnerships are expected to support the growth and expansion plans of these key players during the forecast period. On the sales side, players are investing in innovation/R&D and brand building, while fostering strong relationships with clients to support their competitive position.
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The Industrial Design Market 2021 research report gives emerging industry data, global segments and regional outlook.
The report generated using various analysis tools like porter’s five forces model, market attractiveness and value chain.
The report gives comprehensive review of the global market helping to club revenue generation and profitable business to transform client’s success.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the industrial design market include IDEO, BlueFocus Intelligent Communications Group Co. Ltd., Designworks, Bayerische Motoren Werke AG, ARTOP Group, Frog Design Inc., Ammunition Group, ZIBA Design, Fuse Project, PDD, LUNAR, R & D Design, GK Design Group, RKS, BUSSE Design.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Industrial Design Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/industrial-design-market/download-sampleMarket DynamicsThe major factor driving the industrial design market is growing investment in computer-aided technology and computer-aided design.
The rising integration of loT between industrial sectors to make the production process smooth and effective is adding growth to the market in the coming years.
Global Industrial Design Market Research Report: By Type (Product Design, Model Design and Fabrication, User Interface and Interaction Design, Other Industrial Design), By Application (Transportation, Electronic, Household, Machinery & Equipment, Others) - Forecast to 2027Market OverviewMarket Research Future (MRFR) has announced a new report on the global industrial design market.
Extensive data aggregation on the global industrial design market is performed in the report with the help of dynamic primary and secondary research methods.
The competitive landscape and segmentation of the global industrial design market are assessed in detail to provide pointers as to how players can succeed in the various components of the market over the coming years.According to the report, the global industrial design market is likely to rise at a CAGR of 5.85% over the 2020-2027 forecast period, having been valued at USD 32,546.5 million in 2013.
The market is expected to almost double in value over the forecast period, with a valuation of USD 61,786.7 million expected for the market by 2027.The industrial design market has grown steadily in the last few decades due to the growing investment in computer-aided design and computer-aided engineering.
The growing global industrial design market is likely to be influenced by factors such as the increasing environmental awareness among industrial heavyweights and the growing incorporation of the Internet of Things (IoT) among industrial sectors to make production processes easier and smoother.Green engineering is likely to be a major component of the global industrial design market over the forecast period.
The industrial design market is expected to be dominated by trends regarding the environmental viability of manufacturing processes as well as the use of environmentally feasible, renewable energy sources in the production of the designed products.
Industrial Design MarketThe 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.
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.Global Industrial Design Market – SegmentsThere are three key dynamics that the market is segmented into;By Type : Product Design, Model Design & Fabrication, User Interface & Interaction Design, among other industrial designs.By Application : Transportation, Electronic, Household, Machinery & Equipment, among others.By Regions : North America, Europe, Asia Pacific, and the Rest-of-the-World.Global Industrial Design Market – Regional AnalysisThe Asia Pacific region would remain its dominance over the global industrial design market, witnessing the growing investment in the industrial sector in rapidly emerging countries such as China, Japan, Korea, and India.
