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Global Industrial Design Market to Grow at Promising 5.8% CAGR over the forecast period owing to increasing pace of industrialization – a Report by Absolute Markets Insights

Published On 03 Dec 2021 01:31 PM


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In terms of revenue, the industrial design market was estimated to be US$ 44733 million in 2020 growing at CAGR of 5.83% over the forecast period. The global industry is expected to reach US$ 60912 million by 2029. Rapid pace of industrialization has led the global market growth. However, lack of clarity in certain sections of the legal rules and regulations) sector is expected critically impact the industry growth. Also, rising demand for internet of things is expected to propel the demand for industrial design market over the forecast period.

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Product Design captured the highest share in 2020.

Nowadays, from a product perspective, smart connected devices along with the cloud-based infrastructure, data acquisition, aggregation, and analytics have been a huge trend. From a technology perspective, there seems to have been a race toward more integrated SoC modules with wireless communications on board. This is helping make IoT device creation faster and less expensive to develop along with providing greater capability to allow for tradeoffs between cloud and edge-based computing. However, losing sight of the product requirements during development, such that the work goes off track or doesn’t meet deadlines, is a common error. Likewise, overdesigning is an issue that results in increased cost, size, weight and schedule problems. Also, lack of appreciation for the cost and time it takes to create a successful product is some factors critically impacting the particular product growth. The Steinway Spiro | r piano is a smart, connected, player grand or baby grand piano is an unmatched musical instrument with unparalleled capability and performance. The Seattle-based Axon is a full-service firm that specializes in electromechanical design and provides end-to-end support for clients from product concepts through to market deployment. They have experience in the design of computing devices and peripherals, handheld consumer devices, medical products, electromechanical assemblies, and electronics packaging. Their typical project range is $20K to $200K (US$).

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Focus on IoT Designs

TechEn has extensive experience across multiple markets including medical, industrial, and consumer/consumer health segments. Products designed include hydroponics, audio products such as headphones, IoT thermostats, and so on. They provide support from the very early concept stage through to validation of mass-produced products. Kickr Design in Atlanta GA offers end-to-end product design services in one location. They have a strong background in product design and offer CAD/3D design, mechanical, electrical, and software engineering, as well as prototyping and manufacturing. They have created consumer electronics such as tapes, 3D printed components, LED lights, PCBs, and so on.

The Impact of Covid-19 on the Industrial Design Market

Many large and small are re-opening to welcome back their employees while adhering to social distancing guidelines. The COVID-19 pandemic has disrupted product development with restrictions placed on manufacturing units, uncertain demand, supply chain and travel restrictions. Industrial design agencies have adopted work-from-home policies and collaboration software for keeping communication channels open to drive efficiency.  Such a factor has led the demand for industrial design in the recent past and is expected to continue a similar trend over the next eight years. Introduction of medical technology as well as the dependence on interconnected devices for gleaning patient information and making informed decisions has led to industrial design agencies focusing on portable designs of devices to assist healthcare workers. Customized procedure trays, for instance, are tailored according to the need of surgeons. Design Academy Eindhoven graduate Laura Deschl has developed The Healing Imprint, a therapeutic garment that looks like activewear but is made to help heal trauma. Advanced manufacturing company OPT Industries has used computational design techniques to create a medical swab that aims to improve clinical testing during the coronavirus pandemic and beyond.

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Industrial Design Market:

  • By Type
    • Product Design
    • Model Design and Fabrication
    • User Interface and Interaction Design
    • Other Industrial Design
  • By Application
    • Transportation
    • Electronic
    • Household
    • Machinery and Equipment
    • Others
  • By Geography
  • North America
  • U.S
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
  • Middle East and Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of Middle East & Africa
  • Latin America
  • Brazil
  • Argentina
  • Rest of Latin America 

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Company: Absolute Markets Insights

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Contact Name: Shreyas Tanna

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Press Release Provided By: Absolute Markets Insights