Global Industrial Design Services Strategic Business Report 2023-2030: U.S. Market is Estimated at $639 Million, While China is Forecast to Grow at 5.1% CAGR

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Jan 04, 2024, 13:30 ET

DUBLIN, Jan. 4, 2024 /PRNewswire/ -- The "Industrial Design Services - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Industrial Design Services Market to Reach $3.4 Billion by 2030

The global market for Industrial Design Services estimated at US$2.4 Billion in the year 2022, is projected to reach a revised size of US$3.4 Billion by 2030, growing at a CAGR of 4.4% over the analysis period 2022-2030. Product Design, one of the segments analyzed in the report, is projected to record 4.5% CAGR and reach US$1.4 Billion by the end of the analysis period. Growth in the Model Design & Fabrication segment is estimated at 5.1% CAGR for the next 8-year period.

In the post-pandemic era, the design industry underwent significant changes, particularly in the field of industrial design services. In 2021, global key competitors in this industry competed for market share, with their competitive presence ranging from strong to niche. Industrial design services played a crucial role in helping companies gain a competitive edge by focusing on product design. The global market for industrial design services showed promising prospects and outlook, with recent market activity reflecting the industry's dynamism.

Product design services emerged as a prominent area of focus as companies sought to enhance their offerings and meet evolving customer demands. The world industrial design services market in 2021 saw a breakdown of revenues with a significant portion attributed to product design, alongside model design and fabrication, among other types of services.

The U.S. Market is Estimated at $639 Million, While China is Forecast to Grow at 5.1% CAGR

Regionally, both developed and developing regions played essential roles in the industrial design services market. China, Asia-Pacific, the USA, and Europe were among the leading geographic regions, with varying value CAGR rankings for the period 2020-2027. Overall, the industrial design industry adapted to the changing landscape of the post-pandemic world, emphasizing innovation and competitive advantage to drive growth and market share.

The Industrial Design Services market in the U.S. is estimated at US$639 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$498.3 Million by the year 2030 trailing a CAGR of 5.1% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 3.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR.

What`s New?

Special discussions on the global economic climate and market sentiment
Coverage on global competitiveness and key competitor percentage market shares
Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and trademarked research platform
Complimentary updates for one year
Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

MARKET TRENDS & DRIVERS

Various Components of Critical Importance in Industrial Engineering and Designing Services
Key Industrial Design Trends in Brief
Generative Design Takes Industrial Design Market by Storm
Growing Significance of Evoking Emotion in Customers to Create Product Sensation
Advanced Tools Expected to Revolutionize Design
Digital Engineering Push in the Post COVID-19 Period to Revive Opportunities for Industrial Design Services
COVID-19 Has Created an Environment Where Digital Transformation Equals Survival
IoT Integration to Fuel Demand for Industrial Design Services
Green Engineering, Environmental Sustainability to Create Demand for Design Services
Global Greenhouse Emissions by Sector: 2020
Energy-Efficient Design Gets Prominence
Role of Industrial Designers in Manufacturing Process
Manufacturing Supply Chain Affected by the Pandemic
% Share of Companies Impacted by Supply Chain Delays Due to COVID-19 Worldwide as of May 2020
Big Data Provides Real-Time Data for Faster Decision Making, thus Transforming Industrial Design Services
Explosion of IoT Big Data Catalyzes the Need for Big Data Analytics for Insight Generation Needed for Informed Decision-Making & Value Creation: IoT Big Data Generated by Connected Devices Worldwide (In Zettabytes) for the Years 2020 & 2025
Computer-Aided Design (CAD) and Computer-Aided Engineering Gaining Prominence
World Engineering Software Market by Software Type (2020): Percentage Breakdown of Revenues for Computer-Aided Engineering (CAE), Electronic Design Automation (EDA), Architecture, Engineering & Construction (AEC), Computer-Aided Designing (CAD), and Computer-Aided Manufacturing (CAM)
World Engineering Software Market by Application (2020): Percentage Breakdown of Revenues for Product Design & Testing, Design Automation, Drafting & 3D Modeling, Plant Design, and Other Applications
Relevance in Automotive Industry
Established Use in Aerospace & Defense Sector
Rising Adoption of 3D Printing Augurs Well
Global 3D Printing Market Size (in US$ Billion) for the Years 2019, 2022 and 2025
Key Challenges faced by the Industrial Design Industry

FOCUS ON SELECT PLAYERS (Total 85 Featured)

Accenture PLC
Bayerische Motoren Werke AG (BMW GROUP)
Invetech Pty., Ltd.
McKinsey & Company
Frog Design Inc.
IDEO
Cad Crowd
Peterman Design Firm
D&K Engineering
Prime Studio
Mediasphere
Sentio Design
Capgemini Engineering (France)
Ammunition Group
Progetto Design Pty Ltd

For more information about this report visit https://www.researchandmarkets.com/r/9xndqj

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