Industrial Design Market: Current Analysis and Forecast (2022-2030)

Industrial design is a field that majorly focuses on the development and creation of products that are both functional and aesthetically pleasing. It involves the process of designing and developing products, such as furniture, electronics, and consumer goods, from their initial conception to their final production. Designers use their knowledge of engineering, materials science, and design principles to create products that are both functional and visually appealing considering the factors such as usability, ergonomics, safety, and cost-effectiveness in their designs. The increasing demand for innovative, user-friendly, sustainable, and culturally appropriate products, as well as the expanding global market for design services, are driving the growth of the industrial design market.

The Industrial Design Market is expected to grow at a strong CAGR of 4% during the forecast period owing to the increasing demand for innovative, user-friendly, sustainable, and culturally appropriate products. Moreover, growing awareness about the environmental impact of products among consumers and companies is growing demand for sustainable design solutions. Industrial designers are helping companies to create products that are environmentally friendly, from the materials used to the manufacturing processes employed. Also, the key players are adopting strategic alliances like merging or acquisition, heavy investment, and collaborations, which is also anticipated to drive the growth of the market. For instance, recently in 2023, Siemens Digital Industries Software and IBM announced that they are expanding their long-term partnership by collaborating to accelerate sustainable product development and operations.

Based on type, the market is segmented into product design, model design & fabrication, user interface & interaction design, and others. Amongst these, the model designing & fabrication segment with hold a higher CAGR during the forecast period owing to the increasing advancements in technology. However, customization and cost efficiency remain important factors for clients and industry-specific requirements are driving innovation and growth in this market.

By industry, the market is categorized into automotive, food & beverages, electronics, machinery, and others. Among these, the automotive segment captured the majority share of the industrial relay market in 2021. The combination of factors, including consumer demand, technological advancements, globalization, regulations, and sustainability are driving this segment. For instance, Italian startup TUC is on a mission to revolutionize the mobility sector with its patented plug & play system which cuts vehicle production costs and offers virtually unlimited potential for customization.

For a better understanding of the market adoption of the Industrial design industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Korea, and Rest of Asia-Pacific), Rest of World. Asia Pacific region has experienced significant growth in this market in recent years. The growth of the industrial design market in this region is majorly driven by increasing demand for consumer goods, technological advancements, urbanization, government support, and emerging markets. These factors are creating a favorable environment for industrial designers, leading to increased innovation, investment, and growth in the industry.

Some of the major players operating in the market include: IDEO, frog, part of Capgemini Invent, McKinsey & Company, DesignworksUSA, Inc., ARTOP GROUP, Accenture, Ammunition, ZIBA Design, BlueFocus Communication Group, PDD Group Ltd.