According to a new report, published by KBV research, The Global Generative Design Market size is expected to reach $938.9 million by 2031, rising at a market growth of 19.8% CAGR during the forecast period.
The Cloud segment is expected to witness a CAGR of 20.4% during (2024 - 2031). Cloud solutions offer scalable resources that can be adjusted based on demand. Generative design frequently necessitates significant computational power, and cloud platforms can offer on-demand access to high-performance computing resources without significant upfront hardware investments. Cloud-based generative design tools often operate on a pay-as-you-go model, which reduces the need for significant capital expenditure on hardware and infrastructure.
The Automotive segment is leading the Global Generative Design Market by Industry in 2023; thereby, achieving a market value of $230.8 million by 2031. The automotive industry often deals with complex components and systems that require innovative design solutions. Generative design can optimize these components for performance, weight, and material usage, making it ideal for addressing the intricate design challenges in automotive engineering. Reducing the weight of automotive components can significantly improve fuel efficiency and overall vehicle performance.
The Lightweighting segment captured a CAGR of 20.2% during (2024 - 2031). In the automotive and aerospace industries, reducing the weight of components leads to better fuel efficiency. Generative design contributes to lightweight by optimizing the design of parts to minimize material usage while retaining strength and durability. Lightweight components reduce fuel consumption and operational costs. This is particularly important in industries like aerospace, where fuel efficiency is a major factor in overall cost management.
Full Report: https://www.kbvresearch.com/generative-design-market/
The North America region dominated the Global Generative Design Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $351 million by 2031. The Europe region is poised to grow at a CAGR of 19.4% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 20.5% during (2024 - 2031).
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