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Market Overview of Global Industrial Design market:
According to our latest research, the global Industrial Design market looks promising in the next 5 years. As of 2022, the global Industrial Design market was estimated at USD 2594.23 million, and it's anticipated to reach USD 3908.54 million in 2028, with a CAGR of 7.07% during the forecast years.
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.
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.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Industrial Design market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Industrial Design Market Report:
Market Size Estimates: Industrial Design market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Industrial Design market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Industrial Design market
Segment Market Analysis: Industrial Design market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Industrial Design market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Industrial Design Market: Revenue and sales volume of major countries in each region
Industrial Design Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Industrial Design market in major regions.
Industrial Design Industry Value Chain: Industrial Design market raw materials & suppliers, manufacturing process, distributors, downstream customers
Industrial Design Industry News, Policies & Regulations
Key players in the global Industrial Design market are covered in Chapter 12:
Pivot International
ZIBA Design
Nendo
Teague
ECCO
MINIMAL
Baren-Boym
GK Design Group
Fuseproject
Design 1st
LUNAR
ARTOP GROUP
PDD
Ammunition Group
Designworks
Inertia Product Development
RKS
Spark Innovations
Enhance Innovations
IDEO
BUSSE Design
TEAMS DESIGN
Delineo Design
Frog Design
Designaffairs
In Chapter 2 and Chapter 15.1, based on types, the Industrial Design market from 2018 to 2028 is primarily split into:
Product Design
Model Design and Fabrication
User Interface and Interaction Design
Others
In Chapter 3 and Chapter 15.2, based on applications, the Industrial Design market from 2018 to 2028 covers:
Automobile & Transportation
Electronics
Consumer Goods
Machinery & Equipment
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Industrial Design market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028