Generative Design Software Global Market Report 2024

The generative design software market size has grown rapidly in recent years. It will grow from $1.9 billion in 2023 to $2.25 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. Generative design software has seen historic growth due to technological advancements, demand for sustainability, complexity in design, adoption of additive manufacturing, and expanding applications in various industries.

The generative design software market size is expected to see rapid growth in the next few years. It will grow to $4.49 billion in 2028 at a compound annual growth rate (CAGR) of 18.8%. The projected expansion during the forecast period is driven by the integration of artificial intelligence and machine learning, the rise of cloud-based generative design platforms, a greater emphasis on product customization and personalization, increased demand for streamlined resource utilization in design workflows, and the widening adoption of generative design solutions across the architecture and construction sectors. Key trends expected in this period encompass AI-fueled optimization, collaborative tools facilitating multi-disciplinary teamwork, heightened automation in design refinement processes, improved integration of sustainability metrics, and the utilization of augmented reality (AR) for real-time assessment of designs.

The uptrend in cloud-based solutions adoption is poised to drive the growth of the generative design software market in the foreseeable future. Cloud-based solutions encompass software, services, or resources hosted and accessed remotely via the Internet, offering scalability, flexibility, and accessibility across devices with Internet connectivity. This surge in cloud-based solutions deployment is fueled by the demand for scalability, cost-efficiency, flexibility, and accessibility, empowering businesses to adapt to dynamic technological landscapes and augment operational efficiency. Cloud deployment for generative design software unlocks scalable computing power and collaborative design workflows, facilitating swift iteration and optimization of intricate designs. For example, data from Eurostat, a Luxembourg-based EU governmental organization, indicates a rise in medium-sized enterprises' cloud computing adoption rate to 59% in December 2023, up from 53% in 2021. Consequently, the escalating deployment of cloud-based solutions propels the generative design software market's growth.

Key players in the generative design software market are honing their focus on crafting software embedded with cutting-edge technologies like 3D voxel display and voxel-based geometry kernel technology to elevate design process efficiency and precision. Voxel-based geometry kernel technology operates on a volumetric object representation, where each voxel denotes a point in a three-dimensional grid, while 3D voxel display technology visualizes three-dimensional objects using voxels. For instance, in June 2022, Hyperganic Group GmbH, a Germany-based entity specializing in generative design software and additive manufacturing solutions, introduced Hyperganic Core 3, the latest iteration of its algorithmic design software. This version integrates advanced AI technology for automated design workflows. Hyperganic Core leverages a bespoke geometry kernel employing 3D voxels, with a significant portion of the platform coded in Assembly, a low-level programming language. This approach ensures proximity to hardware and optimization across diverse processor architectures. Hyperganic Core 3 employs state-of-the-art GPU techniques for real-time display of each object particle, facilitating precise and intricate object depiction.

In August 2022, Carbon Inc., a US-based 3D printing technology leader, acquired ParaMatters Inc. for an undisclosed sum. This strategic acquisition bolsters Carbon Inc.'s software prowess, empowering product design and development teams to craft superior products swiftly using varied materials and production systems. ParaMatters Inc. is a US-based generative design software specialist.

Major companies operating in the generative design software market are Siemens AG, HP Inc., Accenture PLC, International Business Machines Corporation, SAP SE, Dassault Systèmes SE, Hexagon AB, Autodesk Inc., ANSYS Inc, PTC Inc., Bentley Systems Inc., Stratasys Ltd, Altair Engineering Inc., GE Additive, Desktop Metal Inc., ESI Group, Electro Optical Systems GmbH, SLM Solutions Group AG, Markforged Inc, ExOne Operating LLC, Synera GmbH, Caracol AM, nTopology Inc., Diabatix nv, 3D Systems Inc.

North America was the largest region in the generative design software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the generative design software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the generative design software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Generative design software is a computer-aided tool that utilizes machine intelligence and algorithms to generate a plethora of manufacturing-ready solutions based on defined product constraints such as cost, materials, and performance requirements. This empowers designers and engineers to expedite the development of innovative products. By harnessing advanced computational capabilities, generative design software streamlines traditional design processes, enabling rapid exploration of numerous design alternatives. Consequently, optimized solutions that may have otherwise remained unexplored can be efficiently created.

The primary components of generative design software include software and services. Software comprises a set of instructions and data facilitating specific tasks or functions. Generative design software can be deployed on-premises or in the cloud, catering to organizations of various sizes, from small and medium-sized businesses (SMBs) to large enterprises. Its applications span across industries such as automotive, aerospace and defense, industrial manufacturing, construction, healthcare, education, energy, electronics, and consumer goods.

The generative design software market research report is one of a series of new reports that provides generative design software market statistics, including generative design software industry global market size, regional shares, competitors with a generative design software market share, detailed generative design software market segments, market trends and opportunities, and any further data you may need to thrive in the generative design software industry. This generative design software 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 design software market includes revenues earned by entities by parametric modeling, topology optimization, lattice structure generation, and design exploration. 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.


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