As per MRFR Analysis, the Industrial Design market was valued at USD 43.37 Billion in 2023 and is projected to grow to USD 68.45 Billion by 2032, with a CAGR of 5.20% from 2024 to 2032. The market is driven by increased consumer spending, rapid industrialization, and the integration of IoT in production processes. However, challenges such as adherence to quality standards and price alignment persist. The COVID-19 pandemic has also influenced the market, prompting a shift towards sustainable practices and portable designs in healthcare. The APAC region is expected to lead the market, driven by significant investments in countries like China and India.
Key trends shaping the Industrial Design market include technological integration and sustainability efforts.
RKS Design (U.S.), Busse Design (U.S.), Designworks (BMW AG), Accenture PLC (Ireland), BlueFocus Intelligent Communications Group Co. Ltd. (China), IDEO LLC (U.S.), GK Design Group (U.S.), Altran Technologies SA (France), PDD Group Ltd. (U.K.), Ziba Design (U.S.), R&D Design (U.S.), ARTOP Group (China), Ammunition Group (U.S.), LUNAR Design (U.S.)
Industrial design is the process of designing products or equipment that can be manufactured on a massive scale and be used by customers on daily basis. The huge spending levels of customers and rapid pace of industrialization can influence the industry growth over the forecast period.
Figure 1: Industrial Design Market Size, 2022-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
COVID-19 Analysis
The COVID-19 pandemic has disrupted product development with restrictions placed on manufacturing units, uncertain demand, and travel restrictions. Industrial design agencies have adopted work-from-home policies and collaboration software for keeping communication channels open to drive efficiency. Sustainability goals by FMCG companies and emphasis on recyclability remain on the agenda for major industries. This can be beneficial to industrial design companies and provide them with contracts and projects.
Evolution of medical technology as well as the dependence on interconnected devices for gleaning patient information and making informed decisions has led to industrial design agencies focusing on portable designs of devices to assist healthcare workers. Customized procedure trays, for instance, are tailored according to the need of surgeons.
The integration of IoT in production methods for expediting output can drive the global industrial design market. Reliance on the new technology in the coming years owing to its benefits and tools for incorporating advanced complicated design procedures can bode well for the market. Shift to a value-based business model by enterprises and rapid production methods adopted by manufacturing units can bode well for the global market. Manufacturers are undertaking new projects in India and China with proper execution strategies in place with compliance to COVID-19 restrictions. This is expected to drive the demand for product design and industrial design services as a whole.
Green engineering and sustainable development is a viable opportunity for the industry to expand its scope over the forecast period. Sustainable schemes introduced by governments worldwide for lowering carbon emissions and encouraging the growth of environmentally viable sources for manufacture of products. The use of solar energy for meeting energy targets of industries is the right start for the global industrial design market. Industrial design can assist builders in adhering to latest environmental standards as well as gain incentives from green schemes.
Green energy codes are minimum code requirement to be adhered for infrastructure developers to maintain energy efficiency. But real estate developers are having a hard time owing to high costs of sustainable materials and increased costs of buildings. Non-compliance of laws which bring in heavy penalties to the offender can restrain the market growth.
Alignment of prices with the end product is a challenge posed to the global industrial design market. The lack of product development team managers with deft experience for matching production quantity and quality can be challenging for designers.
Product design is likely to gain the lead in the global market owing to the need for conceptual designs in any market by companies. The product design can be used as a differentiator in the industry and used in gaining a large consumer base. Consumer electronics companies, FMCG companies, and F&B companies invest heavily in R&D for developing new designs for products annually to top their sales margins. It can reach a value of USD 23,273.8 million by 2025. Design of surgical instruments is likely to take priority during the COVID-19 pandemic owing to instruments requiring precision. Huge need for healthcare devices such as incontinence pads and mobility aids can drive the segment demand over the forecast period.
The machinery & equipment segment is likely to dominate the global industrial design market owing to rapid industrialization globally. Countries are developing goods and streamlining their production process through automation for gaining leverage in international trade. Investments in machinery and equipment will go a long way in ensuring national growth. The segment can reach a valuation of USD 19,889.4 million by 2025.
APAC is expected to lead in the global industrial design market owing to investment by leading players in countries of China, South Korea, Japan, and India. Adoption of IoT solutions by leading industrialists and huge potential for IoT applications can facilitate the trend. The expansion of the manufacturing sector and government efforts to capitalize on the large laborforce can bolster the market demand. The regional market can touch a valuation of USD 24,264.3 million by the end of the forecast period.
Europe is likely to contribute heavily to the global industrial design market owing to intellectual property laws being rolled out in the European Union for protecting patented industrial designs of products and components. Regulations for preventing third parties to use the patented design and commercialize on its success can drive players towards investing in the region. But lack of clarity on certain sections of the law can impede the regional market growth.
Global Industrial Design Market is highly competitive with fluctuations in currency, volatile raw material prices, and presence of private and public companies. Economic conditions and industrial development are likely to shape the industry in the coming years. Service upgrades, collaborations, and partnerships will gain traction over the forecast period for keeping services economical. The competition can intensify owing to collaborations and product developments.
Key Companies Covered in the Report
are prominent players of the global industrial design market.
In February 2024, Autodesk, together with Cadence, sought to change PCB designing and 3D modeling, which improved collaboration and efficiency through embedding Cadence tools in Autodesk Fusion in a bid to come up with better electromechanical processes in the electronics sector.
In January 2024: Ansys Inc. made a big announcement regarding a merger with Synopsys that is expected to be completed. With this merger, it aims at forming a powerhouse that will be involved in the development of silicon through to systems design solutions, which is perfectly in line with Ansys’s vision of leveraging simulation technologies to close the gap between the design and the real world.
In June 2023, L&T Technology Services furthered their partnership with PTC in order to devise solutions for aerospace, defense, and transportation industries through emphasis on Windchill PLM so as to facilitate digital transformation starting from design up to manufacturing.
In March 2024: Purchased Serif Ltd, which augmented its graphic design capabilities using the Affinity suite of products that target professional designers. This enables Canva to better position itself to challenge Adobe’s creative application offerings in an ever-evolving market.
In 2023: Autodesk launched AutoCAD 2024, which utilized machine learning to enhance key components of the design process, like the Markup Import and Markup Assist features to boost Block Smart. This particular version also improved the performance of 2D graphics and made the installations easier.
In July 2023 - Dassault Systèmes launched CATIA Visual Scripting, a feature designed to optimize design processes by letting users easily create a build-up of intricate 3D geometries through algorithmic design rather than adding on manually to existing sections.
Launched first at Microsoft Azure, NVIDIA Corporation made Omniverse Cloud APIs available for public use. These APIs are intended to improve the establishment of integrating industrial applications and simulations towards the creation of digital twinning utilities. This development signifies a step towards the digitalization of industries while looking forward to the next era.
Global Industrial Design Market report compiled by MRFR illustrates the trajectory of segments and sub-segments as well as supporting factor driving their growth. The report contains a comprehensive summary and explores all opportunities, trends, and threats to be faced by industry leaders in the coming years. It is segmented in the following manner:
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 43.37 Billion |
| Market Size 2024 | USD 45.63 Billion |
| Market Size 2032 | USD 68.45 Billion |
| CAGR | 5.2% (2024-2032) |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2021 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, By Application |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | RKS Design (U.S.), Busse Design (U.S.), Designworks (BMW AG), Accenture PLC (Ireland), BlueFocus Intelligent Communications Group Co. Ltd. (China), IDEO LLC (U.S.), GK Design Group (U.S.), Altran Technologies SA (France), PDD Group Ltd. (U.K.), Ziba Design (U.S.), R&D Design (U.S.), ARTOP Group (China), Ammunition Group (U.S.), and LUNAR Design (U.S.) |
| Key Market Opportunities | Green engineering and sustainable development is a viable opportunity for the industry to expand its scope over the forecast period. \r\nSustainable schemes introduced by governments worldwide for lowering carbon emissions and encouraging the growth of environmentally viable sources for manufacture of products. |
| Key Market Drivers | Design developments comprising social collaboration, process automation, robotic support, and industry 4.0 are expected to drive the demand for industrial design. |
Frequently Asked Questions (FAQ) :
North-America is leading the global industrial design market in the present.
Type and application are the segments included in the study.
DEO LLC (U.S.), Altran Technologies SA (France), Designworks (BMW AG) are the key players included in the market as capitalizers.
A CAGR of 5.2% is the growth rate for the market to expand in the forecast period.
USD 68.45 Billion is the valuation expected for the market by 2032.
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Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
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