Prototyping Software Global Market Report 2024

The prototyping software market size has grown exponentially in recent years. It will grow from $0.97 billion in 2023 to $1.2 billion in 2024 at a compound annual growth rate (CAGR) of 23%. The growth observed during the historic period can be attributed to several factors, including the increasing demand for rapid product development, the emergence of 3D printing technology, a growing emphasis on user-centered design, the rise of agile and iterative development methodologies, and the adoption of lean manufacturing principles.

The prototyping software market size is expected to see exponential growth in the next few years. It will grow to $2.78 billion in 2028 at a compound annual growth rate (CAGR) of 23.4%. The anticipated growth in the forecast period can be attributed to several factors, including the shift towards cloud-based prototyping solutions, the rise of low-code and no-code prototyping platforms, increased focus on sustainability and eco-friendly prototyping materials, the proliferation of Internet of Things (IoT) devices influencing prototyping needs, and the incorporation of customization and personalization features in prototyping software. Major trends expected during the forecast period include augmented reality-driven prototyping experiences, the democratization of prototyping tools for non-technical users, an emphasis on real-time collaboration and remote work capabilities, the integration of analytics and data-driven insights into prototyping workflows, and the rise of hybrid prototyping methodologies blending physical and digital approaches.

The rapid uptake of the Internet of Things (IoT) is poised to drive the expansion of the prototyping software market in the foreseeable future. IoT refers to a network of interconnected devices, objects, and systems that exchange data over the internet without human intervention. This rapid adoption is fueled by technological advancements, the emergence of Industry 4 and digital transformation, as well as regulatory support and standards. Integrating IoT with prototyping software enhances the design and development process of IoT applications by offering tools for simulating interactions, testing functionality, iterating on designs, visualizing data, and optimizing user experiences. For example, in August 2022, the Health Sector Cybersecurity Coordination Center (HC3) reported that approximately 7 billion devices were connected through IoT in 2022, with projections indicating a potential increase to around 20 billion more by 2025. Hence, the proliferation of IoT and connected devices is stimulating growth in the prototyping software market.

Key players in the prototyping software market are intensifying their efforts to develop unified emulation and prototyping systems, such as the ZeBu EP1 emulation system, to gain a competitive advantage. The ZeBu EP1 emulation system represents a unified hardware platform that combines both emulation and prototyping functionalities, offering significant benefits for System-on-Chip (SoC) verification and early software development. For instance, in September 2022, Synopsys Inc. launched the ZeBu EP1 emulation system, which features a unified hardware system with enhanced performance, faster compile times, and improved flexibility. These technological advancements streamline development processes, accelerate project schedules, and empower teams to adapt dynamically, thereby impacting the prototyping software market significantly.

In November 2023, Keysight Technologies Inc. acquired ESI Group SA, aiming to bolster its position in the prototyping software market through strategic integration, synergies, an expanded product portfolio, increased market share, technological advancements, competitive advantage, and broader global reach. ESI Group SA, based in France, specializes in providing virtual prototyping software.

Major companies operating in the prototyping software market are Adobe Inc., VVDN Technologies, Stratasys Ltd., InVision, Arduino, KeyShot, iRise, Sketch B.V., 3D Hubs, Framer, THREEKIT INC., UXPin, Marvel, Highlight, Boston Micro Fabrication (BMF), Blender, Balsamiq, Pidoco GmbH, Proto.io, Azul 3D, Kaedim Inc., Axure, Fluid UI, MindsDB, ShapesXR, Ethereal Machines, Moqups.

North America was the largest region in the prototyping software market in 2023. The regions covered in the prototyping software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the prototyping software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Prototyping software refers to tools and platforms that empower designers and developers to craft interactive prototypes of digital products, such as websites, mobile apps, or software applications. These prototypes emulate the final product early on, enabling stakeholders to visualize and assess the user interface, functionality, and user experience before committing to full-scale development.

The primary types of prototyping software include throwaway prototyping, evolutionary prototyping, and operational prototyping. Throwaway prototyping involves generating initial concepts for various applications, interfaces, or functions, without necessarily intending to incorporate them into the final system. Deployment options encompass cloud-based and web-based solutions, catering to both large enterprises and small to midsize enterprises (SMEs), among other applications.

The prototyping software market research report is one of a series of new reports that provides prototyping software market statistics, including prototyping software industry global market size, regional shares, competitors with prototyping software market share, detailed prototyping software market segments, market trends, and opportunities, and any further data you may need to thrive in the prototyping software industry. This prototyping software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The prototyping software market consists of revenues earned by entities by providing services such as consultancy services, training and education programs, customization and integration services, prototyping outsourcing solutions, software maintenance and support services, and user experience (UX) testing services. The market value includes the value of related goods sold by the service provider or included within the service offering. The prototyping software market also includes sales of products such as 3D modeling, simulation software, rapid prototyping tools, virtual reality prototyping platforms, user interface design software, and collaborative prototyping solutions. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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.


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