Technological Advancements is Contributing Towards the
Growth of Generative Design Market

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.

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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. 

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.

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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.

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