PUBLISHER: The Business Research Company | PRODUCT CODE: 1499847
PUBLISHER: The Business Research Company | PRODUCT CODE: 1499847
Generative AI in design refers to the utilization of artificial intelligence (AI) algorithms to automatically generate and iterate design solutions based on predefined objectives, constraints, and parameters. Its purpose is to augment human creativity and streamline the design process by leveraging computational power to explore vast design spaces, generate novel alternatives, and optimize design solutions.
The primary deployment modes of generative AI in design include on-premise and cloud. On-premise deployment involves software solutions installed and operated on the company's own servers and infrastructure, rather than being hosted on a third-party cloud platform. Generative AI in design finds applications across various domains such as product design, graphic design, interior design, fashion design, and architecture, catering to a diverse array of end-users including large enterprises, small and medium-sized enterprises (SMEs), and individual users.
The generative AI in design market research report is one of a series of new reports from The Business Research Company that provides generative AI in design market statistics, including generative AI in design industry global market size, regional shares, competitors with a generative AI in design market share, detailed generative AI in design market segments, market trends and opportunities, and any further data you may need to thrive in the generative AI in design industry. This generative AI in design market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The generative AI in design market size has grown exponentially in recent years. It will grow from $0.59 billion in 2023 to $0.81 billion in 2024 at a compound annual growth rate (CAGR) of 37.5%. The expansion observed in the historical period can be attributed to several factors, including the availability of large-scale datasets, increased awareness and adoption of generative AI in design, the implementation of ethical and responsible AI practices, the development of educational programs and resources, and the emergence of creative AI platforms.
The generative AI in design market size is expected to see exponential growth in the next few years. It will grow to $2.91 billion in 2028 at a compound annual growth rate (CAGR) of 37.8%. The projected growth in the forecast period can be attributed to several factors, including investments in education and skill development, advancements enabling real-time design generation, a growing emphasis on sustainability and eco-friendly design practices, the implementation of AI-driven personalization in design solutions, and the adoption of explainable AI techniques in design processes. Significant trends anticipated in the forecast period encompass the integration of generative AI in design tools, the emergence of niche applications and services, the utilization of generative AI in digital twin technology, the automation of design processes enabled by AI, and the augmentation of creativity through AI-driven tools and methods.
The increasing adoption of AI applications is poised to drive the growth of the generative AI in design market in the coming years. Artificial intelligence (AI) involves the ability of a computer or computer-controlled robot to perform tasks often associated with human intellectual processes. The rising adoption of AI applications is fueled by the growing complexity of tasks alongside advancements in AI technology. Generative AI in design utilizes AI algorithms to autonomously generate novel designs, streamlining creative processes and fostering innovation across industries such as architecture, fashion, and product design. These applications facilitate rapid prototyping, customization, and exploration of diverse design possibilities, revolutionizing traditional design workflows. For example, a report published by the United States Census Bureau in November 2023 indicated that the adoption of artificial intelligence in the construction sector stood at 1.2%, with an anticipated increase to 2% within the next six months. Thus, the increasing adoption of AI applications is a key driver of the generative AI in design market's growth.
Leading companies in the generative AI in design market are prioritizing the development and enhancement of their generative AI capabilities with advanced technological features to drive revenue growth. Features such as auto-clustering, Python, and R coding capabilities empower generative AI in design by enabling designers to harness sophisticated data analysis, machine learning, and statistical techniques to create innovative and optimized design solutions tailored to specific user requirements and design objectives. For instance, Altair Engineering Inc., a US-based information technology company, recently upgraded its data analytics and AI platform, Altair RapidMiner, to offer powerful next-generation generative AI capabilities. The updates include various features such as auto-clustering, expanded SAS, Python, and R coding capabilities, aiming to elevate the platform's functionality. Additionally, it introduces an array of updated data visualization components, new layout templates and utilities, and enhanced style options, simplifying the process of creating, sharing, and utilizing dashboards. These enhancements streamline setup time for designers, enabling them to focus on creating and implementing more visually appealing and user-friendly dashboards.
In August 2023, OpenAI Inc., a US-based artificial intelligence research company, acquired Global Illumination Inc. for an undisclosed sum. This acquisition is expected to bolster OpenAI's core products, including ChatGPT, and facilitate exploration into emerging areas such as AI-generated media, entertainment, and culture. Global Illumination Inc. is a US-based provider of generative AI in design solutions.
Major companies operating in the generative AI in design market are Alphabet Inc., Microsoft Corporation, Siemens AG, NVIDIA Corporation, Adobe Inc., Dassault Systemes SE, Autodesk Inc., Trimble Inc., Ansys Inc., PTC Inc., Bentley Systems Incorporated, Anthropic AI, Altair Engineering Inc., DeepMind Technologies Limited, OpenAI inc., Jasper Technologies Inc, Corel Corporation, Hugging Face Inc., Chaos Group, Vectorworks Inc., AI21 Labs, Onshape Inc., Stability AI LLC, Midjourney Inc.
North America was the largest region in the generative AI in design market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the generative AI in design market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the generative AI in design market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The generative AI in design market includes revenues earned by entities by providing services, such as automated design testing and validation, generative art and creativity, design optimization for additive manufacturing, design variation exploration, and parametric modeling. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Generative AI In Design Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on generative AI in design market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for generative AI in design? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The generative AI in design market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.