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Generative Design Market Growing at a CAGR 19.9% | Key Player Bentley Systems, Autodesk, Desktop Metal, Dassault Systèmes, MSC Software

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Generative Design Market Growing at a CAGR 19.9% | Key Player Bentley Systems, Autodesk, Desktop Metal, Dassault Systèmes, MSC Software

June 18
19:05 2021
Generative Design Market Growing at a CAGR 19.9% | Key Player Bentley Systems, Autodesk, Desktop Metal, Dassault Systèmes, MSC Software

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)
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 global Generative Design Market 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. Factors that drive the market growth are increasing need for advanced design software to drive product innovation, the growing demand for environment-friendly architecture, and enhanced production efficiency.

The cost optimization segment is expected to grow at the highest CAGR during the forecast period.

By application, the cost optimization segment is expected to grow at the highest CAGR during the forecast period. Generative design is one such approach that enables designers to optimize fairly large and complex product designs, based on parameters such as material, energy, and time wastage. Hence, developing robust and efficient optimization algorithms to deal with resource wastage has been one of the major focus areas of industries.

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The services segment is expected to grow at a higher CAGR during the forecast period

By component, the generative design market is segmented into software and services. The use of generative design software for designing of building plans and large construction projects layouts is expected to fuel demand for services (design & consulting services and support & maintenance services) from the building, architecture, and construction industries.

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) are some of the major players operating in the generative design market. The study includes an in-depth competitive analysis of these key players in the market with their company profiles, recent developments, and key market strategies. The players in this market have adopted different strategies to expand their global presence and increase their market shares. New product launches and upgradations; and partnerships, agreements, and collaborations, were most adopted strategies by the major players from 2016 to 2018, which helped them innovate on their offerings and broaden their customer base.

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.

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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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