Global Industrial Product Design Market Overview:
Industrial Product Design is the process of designing products that will be mass-produced using mass-production techniques. Its distinguishing feature is the separation of designs from manufacturers. The creative act of determining and defining a product's form occurs prior to the physical act of making the product, which consists purely of repeated, often automated, replications. Industrial design is the professional service of developing products and systems that optimize function, value, and appearance for the mutual benefit of both the user and the manufacturer. Industrial designers create products and systems by collecting, analyzing, and synthesizing data, guided by the specific needs of the client and manufacturer, and producing industrial engineering solutions.
As per latest study released by AMA Research, the Global Industrial Product Design market is expected to see growth rate of 4.4%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Upgradation of Computer-aided design (CAD) to Cloud-Based Product Design and Emergence of 3D Printing in Product Design
Market Growth Drivers:
Increased Demand for Product Customization and Advent of Augmented Reality (AR) and Virtual Reality (VR)
Challenges:
Adherence to Quality Standards and Stringent Government Regulations Related to Environment Protection
Restraints:
High Cost of Sustainable Materials
Opportunities:
Increasing Demand for Cost-Efficient Designs and Rising Popularity of Green Engineering and Sustainable Development
Competitive Landscape:
The demand for Virtual Online Fitness is increasing. Businesses in this sector face global competition from market leaders who control a large share of the market. Companies are differentiating their products from competition by employing environmentally friendly materials and manufacturing techniques. The Leading Players are engaging in strategic global expansion to maintain their Market Position. Players are expected to focus on the creation of new compounds, which would likely drive the worldwide market forward over the forecast period.
Some of the key players profiled in the report are Accenture (Ireland), IDEO (United States), Designworks (United States), HLB International (United Kingdom), Vama Industries Ltd. (India), Tangerine (Canada), RKS Design (United States), Seymourpowell (United Kingdom), Bresslergroup (United States) and System Controls (India). Additionally, following companies can also be profiled that are part of our coverage like Lumium (United States), Whipsaw (United States) and Nectar Inc. (United States). Analyst at AMA Research see Global Manufacturers to retain maximum share of Global Industrial Product Design market by 2030. Considering Market by Services, the sub-segment i.e. Visual Brand Language (VBL) and Identity Development will boost the Industrial Product Design market. Considering Market by Enterprise Size, the sub-segment i.e. Large Enterprise will boost the Industrial Product Design market.
Latest Market Insights:
In July 2023, Kearney, a leading global strategy consulting partnership, has acquired TEAMS, an industrial design firm with a unique heritage and whose customers include many of the world's best-known consumer and equipment brands. The acquisition will enable a deeper partnership between TEAMS and Kearney's Product Excellence and Renewal Lab (PERL), a lab within Kearney that advises companies on product strategy.
In November 2022, The Wipro 3D F300-2 is state-of-the-art 3D printer has features like automatic platform levelling, magnetic print bed, self-cleaning nozzle and dual filtration to ensure user safety and high-quality 3D prints. It is IOT enabled and allows remote monitoring and control capabilities over the internet through any computer or any smartphone. The humidity monitored warm filament storage bay in the F300-2 printer ensures that the filament quality does not deteriorate.
What Can be Explored with the Industrial Product Design Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Industrial Product Design Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Industrial Product Design
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Industrial Product Design market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Industrial Product Design market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Venture and Capitalist, New entrants/investors, Automotive, Healthcare, Retail, Analysts and Strategic Business Partners and End-use industries.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.