Global Industrial Design Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Industrial Design Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Industrial design is a process of design applied to physical products that are to be manufactured by mass production. It is the creative act of determining and defining a product's form and features, which takes place in advance of the manufacture or production of the product. It consists purely of repeated, often automated, replication, while craft-based design is a process or approach in which the form of the product is determined by the product's creator largely concurrent with the act of its production.

Market Overview:


The latest research study on the global Industrial Design market finds that the global Industrial Design market reached a value of USD 2594.23 million in 2022. It’s expected that the market will achieve USD 3908.54 million by 2028, exhibiting a CAGR of 7.07% during the forecast period.

COVID-19 disease has disrupted product development

COVID-19 disease has disrupted product development. There has been a change in the product development practice by restrictions including work from home, uncertain demand, no travel to customers or suppliers virtual private network, and collaboration software tools. The travel restrictions have led to longer material ordering and shipping times which in turn made the movement of prototypes more difficult and create a need for more creative means to interact with supplies and customers. Industrial design agencies have adopted work-from-home policies and collaboration software for keeping communication channels open to drive efficiency.

Powerful functions and benefits

Industrial design services help both manufacturers and the supply chain. It allows device makers to focus on their primary operations, such as product innovation and marketing. It also helps to reduce the overall cost and time it takes for a product to enter the market. Companies may save up to 10-15% on production expenses by outsourcing devices, allowing them to compete in the market. Overall, industrial design services provide advantages such as reduced manufacturing time, early product introduction into the market, and quality check approvals to match regulatory criteria. Increase in pressure on the manufacturers to decrease the overhead expenses and operating costs while maintaining the quality of products drives market growth.

Fierce competition

There are a large number of industrial design services for medical and laboratory suppliers with roughly the same level of competitiveness, which will affect the bargaining power of major players in the industry and require more research and development to form a unique competitive advantage. And many suppliers have rich experience in the field of industrial design and have a strong brand image, which will raise the barriers to entry for the industry and limit the number of new entrants. Moreover, the presence of numerous players that offers industrial design at lower prices to attract price-sensitive customers poses a significant threat to the market. Despite steady sales, the market for industrial design has failed to achieve its full potential owing to competitive pricing strategies applied by regional players. This has posed a challenge to revenue growth which in turn is negatively impacting the market.

Region Overview:


Europe dominated the Industrial Design market in 2021, with a market share of 37.06%.

Company Overview:


Frog Design is one of the major players operating in the Industrial Design market, holding a share of 21.23% in 2021.

Frog Design

Frog Design is a leading global creative consultancy, part of Capgemini Invent. Partnering with passionate leaders and visionary entrepreneurs, Frog Design applies creativity, strategy, design, and data to re-invent businesses, drive growth and orchestrate customer-centric transformation.

Pivot International

Pivot International is a collaborative product design, development, and manufacturing firm. Pivot International leverages strengths in more than a dozen areas of specialization, including biometric security products, wearable and touchscreen technology, medical devices, wireless and electronic components, agricultural and building operations, supply chain management, and more to help the clients successfully scale in the Age of Industry 4.0.

Segmentation Overview:


As for product types, the Product Design segment held the largest market share in 2021.

Product Design

The definition of product design describes the process of imagining, creating, and iterating products that solve users' problems or address specific needs in a given market. The key to successful product design is understanding the end-user customer, the person for whom the product is being created.

Model Design and Fabrication

Digital modeling and fabrication is a design and production process that combines 3-D modeling or computing-aided design (CAD) with additive and subtractive manufacturing. Additive manufacturing is also known as 3-D printing, while subtractive manufacturing may also be referred to as machining.

User Interface and Interaction Design

User interface design and user interaction design are two closely related disciplines. One focuses on the design of the visual interface, the other more on the design of the global interaction behavior of the system. In other words, user interface is how the user faces the system and how the system faces the user.

Application Overview:


The market's largest segment by application is the segment Automobile & Transportation, with a market share of 23.24%in 2021.

Automobile & Transportation

Automotive design is the process of developing the appearance (and to some extent the ergonomics) of motor vehicles - including automobiles, motorcycles, trucks, buses, coaches, and vans.

Electronics

Product designer team works parallel with mechanical designers and electronic designers to ensure that the product design will not only meet its aesthetic and ergonomic, Product design can lead sales blast.

Consumer Goods

Consumer products are usually referred to as a wide variety of manufactured goods that are purchased primarily for personal, family, and/or household purposes. They include products in many categories, like apparel, beverages, food, furniture, toys, major household appliances, and sporting and athletic goods. Because the range of possible products is so vast, companies that design consumer products need a high level of experience in all product categories.

Consumer Goods

Consumer products are usually referred to as a wide variety of manufactured goods that are purchased primarily for personal, family, and/or household purposes. They include products in many categories, like apparel, beverages, food, furniture, toys, major household appliances, and sporting and athletic goods. Because the range of possible products is so vast, companies that design consumer products need a high level of experience in all product categories.

Key Companies in the global Industrial Design market covered in Chapter 3:

LUNAR
Fuseproject
Designworks
RKS
Inertia Product Development
GK Design Group
ZIBA Design
ECCO
Frog Design
TEAMS DESIGN
PDD
Ammunition Group
ARTOP GROUP
BUSSE Design
Designaffairs
MINIMAL
Nendo
Baren-Boym
Enhance Innovations
Delineo Design
Pivot International
Design 1st
IDEO
Spark Innovations
Teague

In Chapter 4 and Chapter 14.2, on the basis of types, the Industrial Design market from 2018 to 2029 is primarily split into:

Product Design
Model Design and Fabrication
User Interface and Interaction Design
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Industrial Design market from 2018 to 2029 covers:

Automobile & Transportation
Electronics
Consumer Goods
Machinery & Equipment
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)