About Industrial Product Design
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.
Attributes | Details |
---|
Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
CAGR | 4.4% |
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. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Industrial Product Design market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
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) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Lumium (United States), Whipsaw (United States) and Nectar Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Industrial Product Design market by Type (Product Design, Model Design and Fabrication, User Interface and Interaction Design and Other Industrial Design), Application (Automotive & Transportation, Consumer Electronics, Furniture, Housewares, Medical & Healthcare, Toys & Accessories, Commercial & Industrial and Others) and Region.
On the basis of geography, the market of Industrial Product Design has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Services, the sub-segment i.e. Visual Brand Language (VBL) and Identity Development will boost the Industrial Product Design market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Enterprise Size, the sub-segment i.e. Large Enterprise will boost the Industrial Product Design market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
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
Market Leaders and their expansionary development strategies
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.
Key Target Audience
Venture and Capitalist, New entrants/investors, Automotive, Healthcare, Retail, Analysts and Strategic Business Partners and End-use industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.