In a recent published report, Kenneth Research has updated the market report for Industrial Design Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Industrial Design Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
The industrial design market has grown steadily in the last few decades due to the growing investment in computer-aided design and computer-aided engineering. The growing global market is likely to be influenced by factors such as the increasing environmental awareness among industrial heavyweights and the growing incorporation of the Internet of Things (IoT) among industrial sectors to make production processes easier and smoother. The global industrial design market is likely to rise at a CAGR of 5.85% over the forecast period (2018-2025). It was valued at USD 32,546.5 million in 2013. The market is expected to almost double in value over the forecast period, with a valuation of USD 61,786.7 million expected for the market by 2025.
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Green engineering is likely to be a major component of the global market over the forecast period. The industrial design market is expected to be dominated by trends regarding the environmental viability of manufacturing processes as well as the use of environmentally feasible, renewable energy sources in the production of the designed products. The use of solar energy in the manufacturing sector is not uncommon in developing countries and is already the norm in developed countries, which could help propel the adoption of further environmental accountability in the manufacturing sector over the forecast period. Environmentally oriented manufacturing processes are likely to become more popular in the industrial sector over the coming years, shaping the trajectory of the industrial design market as an influential factor.
IoT is also likely to be a major part of the industrial design market in the coming years and a major factor to consider while innovating and working in the industrial design sector. IoT enables automation of industrial processes in an efficient manner and is consequently being adopted into the manufacturing sector all over the world. The market is likely to rely heavily upon IoT tools in the coming years as they gain increasing acceptance in countries across the world and incorporates more advanced tools and mechanisms to incorporate ever more advanced and complicated industrial design procedures.
Report Overview:
The report provides a thorough look at the global industrial design market’s probable future growth trajectory by segmenting the market into manageable and relevant divisions. The granular structure of the global market is elaborated in detail in the report with the help of extensive analysis of the present and probable future conditions of each leading segment in the market. Extensive research is conducted on each market segment to provide clear data on its significance in the global industrial design market and likely growth prospects in the coming years. The competitive landscape and key players operating in the market are also profiled in order to provide readers with a comprehensive view of the market’s competitive environment and what it takes to succeed in the market.
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The global industrial design market is segmented by type, application, and region. By type, the global industrial design market is segmented into product design, model design and fabrication, user interference and interaction design, and other industrial design. By application, the global market is segmented into transportation, electronics, household, machinery and equipment, and others.
Research Methodology:
Extensive data aggregation on the industrial design market is performed with the help of dynamic primary and secondary research methods. Leading parties in the global market are sought out to gain a relevant picture of the market’s current standing and future growth prospects. This information is backed up by scouring secondary research sources in order to verify and enhance the data gained through primary information. Every precaution is taken to ensure the accuracy of the data gained through this extensive research mechanism. Top-down and bottom-up approaches are used to figure out the market’s overall standing in the global marketplace and the relative role of each segment within the overall market. The global growth prospects of the industrial design market are analyzed by compiling the growth prospects of its various segments.
Competitive Analysis:
The report contains detailed profiles of leading players in the global industrial design market in order to provide readers with a comprehensive look at the situation in the market. Leading players profiled in the report include IDEO LLC (U.S.), Altran Technologies SA (France), Designworks (BMW AG), ARTOP Group (China), Accenture PLC (Ireland), Ammunition Group (U.S.), Ziba Design (U.S.), BlueFocus Intelligent Communications Group Co. Ltd. (China), PDD Group Ltd. (U.K.), LUNAR Design (U.S.), R&D Design (U.S.), GK Design Group (U.S.), RKS Design (U.S.), and Busse Design (U.S.).
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Type
Product Design
Model Design and Fabrication
User Interference and Interaction Design
Other Industrial Design
Application
Transportation
Electronics
Household
Machinery and Equipment
Others
Region
North America
The U.S.
Canada
Mexico
Europe
Asia Pacific
China
Japan
India
Southeast Asia
Rest of Asia Pacific
Intended Audience
Semiconductor Foundries
Original Equipment Manufacturers (OEMs)
ODM And OEM Technology Solution Providers
Market Research and Consulting Firms
Associations, Organizations, Forums
Alliances Related to Industrial Metrology
Technology Investors
Governments and Financial Institutions
Venture Capitalists
Private Equity Firms
Start-Up Companies
Distributors and Traders
About Kenneth Research
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