Industrial design is a functional art by which
the aesthetics & usability of ready-made products may be improved for
production and marketability. It is a strategic problem-solving procedure that
builds business success, drives innovation, and leads to a better quality of
life via innovative products, services, systems, and experiences. It bridges
the gap between what is and what’s possible. It is a trans-disciplinary
occupation that binds creativity to decide problems & co-create solutions
with the intent of making a product, service, system, experience or a business,
better. It provides a more optimistic approach of looking at the future by
reframing complications as opportunities. It links research, business,
technology, innovation, and customers to provide new value & competitive
advantage across social, economic, and environmental spheres. It can be
conducted by large team or an individual. The key benefits are increased sales
of product, makes a company long lasting, makes the product safer & more
enjoyable and uses less material & resources.
According to study, “Global
Industrial Design Market Research Report: by Type (Product Design,
Model Design and Fabrication, User Interface and Interaction Design, Other
Industrial Design), by Application (Transportation, Electronic, Household,
Machinery & Equipment, Others), and Region-Forecast to 2025” the key
companies operating in the global industrial design market are Ammunition
Group, IDEO LLC, Ziba Design, Altran Technologies SA, PDD Group Ltd., BlueFocus
Intelligent Communications Group Co. Ltd., LUNAR Design, GK Design Group,
R&D Design, RKS Design, Designworks (BMW AG), Busse Design, Accenture PLC,
ARTOP Group. The key companies anticipate to change customer preferences &
demands and plan the suitable strategies accordingly in order to achieve
customer satisfaction.
Based on type, industrial design market is
segmented into model design & fabrication, product design, user
interference & interaction design, and other industrial design. Product
design is likely to remain the most significant segment of the market during
the forecast period owing to its prime importance in any manufacturing sector.
Based on area of design investigation, market is segmented into tools,
furniture, appliances, housewares, transportation, farm equipment, human
interface, medical or electronic instruments and recreational support
equipment. Based on sales channel, market is segmented into distributed channel
and direct channel. Based on application, market is segmented into electronics,
household, transportation, machinery & equipment, and others. The machinery
& equipment segment holds major share in market due to the robust growth of
the industrial sector in countries around the world.
The industrial design market is driven by rise
in investment in computer-aided design & computer-aided engineering,
followed by surge in incorporation of the Internet of Things (IoT) among
industrial sectors and growth in environmental awareness among industrial
heavyweights. However, fluctuating prices of materials used for industrial
design and rise in stringent regulations may impact the market. Moreover,
growth in cloud infrastructure and rise in focus on energy consumption are key
opportunities for market.
Based on geography, the Asian-Pacific region
holds major share in industrial design market owing to growth in investment in
the industrial sector in countries such as India, China, Korea, and Japan. The
North-American and European regions are also estimated to witness substantial
growth due to presence of large number of key manufacturers over the forecast
period. It is projected that the market will be reached at US $61440 million by
2025, with a CAGR of 5.3% during 2019-2025.
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