What Are The Global Growth Prospects And Demand Trends Shaping The Generative Artificial Intelligence (AI) In Engineering Market?
How Much Growth Is Anticipated In The Generative Artificial Intelligence (AI) In Engineering Market Size From 2025 To 2034?
The generative artificial intelligence (ai) in engineering market size has grown exponentially in recent years. It will grow from $0.97 billion in 2024 to $1.33 billion in 2025 at a compound annual growth rate (CAGR) of 37.4%. The growth in the historic period can be attributed to increasing computational power, increasing focus on ethical considerations, increasing deep learning, increasing investment from venture capital firms, and increasing awareness of ethical implications.
The generative artificial intelligence (ai) in engineering market size is expected to see exponential growth in the next few years. It will grow to $4.75 billion in 2029 at a compound annual growth rate (CAGR) of 37.3%. The growth in the forecast period can be attributed to the growth of educational programs, the development of standards and regulations, the development of fundamental algorithms, educational and research institutions, and growing cross-disciplinary collaboration. Major trends in the forecast period include integration with simulation and testing, advanced automated engineering workflow, integration of virtual prototyping, customizable AI models, and development of smart engineering systems.
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What Key Drivers Are Primarily Contributing To The Growth Of The Generative Artificial Intelligence (AI) In Engineering Market?
The growing emphasis on automation is expected to propel the growth of generative artificial intelligence in engineering market going forward. Automation refers to the process of utilizing technologies such as machinery, software, or robotics to carry out tasks or processes with minimal human involvement. The growing emphasis on automation is due to the need to boost efficiency, reduce costs, ensure consistent quality, enhance safety, and gain a competitive edge in an increasingly globalized and data-driven market. Generative AI in engineering helps automation by designing and optimizing complex systems, generating innovative solutions, and automating repetitive tasks, thus accelerating the development process and improving efficiency. For instance, in April 2024, according to a report published by the International Federation of Robotics, a Germany-based non-governmental organization in 2023, U.S. automotive sales rose by 1%, with 14,678 robots installed, following a 47% increase in 2022, which saw 14,472 units. Additionally, car and component manufacturers accounted for 33% of all industrial robot installations in the U.S. Therefore, the growing emphasis on automation is driving the growth of generative artificial intelligence in engineering market.
What Are The Essential Segmentation Layers Examined Within The Generative Artificial Intelligence (AI) In Engineering Market?
The generative artificial intelligence (ai) in engineeringmarket covered in this report is segmented –
1) By Tools And Platforms: Software Tools, Cloud-Based Platform, Application Programming Interfaces (APIs)
2) By Design And Manufacturing Stages: Early-Stage Conceptual Design, Detailed Design, Prototyping, Simulation, Manufacturing Process Optimization, Quality Control
3) By Application: Design Optimization, Product Development, Materials Engineering, Structural Analysis, Other Applications
4) By Industry Vertical: Automotive, Aerospace, Manufacturing, Energy, Construction, Other Industries
Subsegments:
1) By Software Tools: CAD (Computer-Aided Design) Tools With AI Integration, Simulation And Modeling Software, AI-Driven Design Optimization Tools, 3D Printing And Additive Manufacturing Tools
2) By Cloud-Based Platform: AI-Based Cloud Design Platforms, Cloud-Based Simulation Tools, Cloud-Based Engineering Analytics Platforms, Collaborative Cloud Platforms For Engineering Projects
3) By Application Programming Interfaces (APIs): AI-Powered API For Design Automation, APIs For Predictive Maintenance In Engineering, AI APIs For Structural Analysis, APIs For Engineering Data Integration And Analytics
What Trends Are Projected To Impact The Generative Artificial Intelligence (AI) In Engineering Market In The Coming Years?
Major companies operating in the generative artificial intelligence in engineering market are focusing on developing advanced solutions, such as a generative AI-enabled platform for powering modern engineering, to enhance various aspects of engineering and design processes. A generative AI-enabled platform for powering modern engineering is a sophisticated software system that leverages generative artificial intelligence technologies. For instance, in February 2024, Cognizant Technology Solutions Corporation, a US-based information technology company, launched Cognizant Flowsource, a generative AI-powered platform aimed at revolutionizing enterprise software engineering. The platform integrates every stage of the software development lifecycle, equipping cross-functional engineering teams with tools and digital resources to enhance efficiency in delivering high-quality code, while also improving control and transparency throughout the process.
Who Are The Prominent Industry Participants Shaping The Generative Artificial Intelligence (AI) In Engineering Market?
Major companies operating in the generative artificial intelligence in engineering market are Google LLC, General Electric Company, International Business Machines Corporation (IBM), Honeywell International Inc., SAP SE, ABB Ltd., NVIDIA Corporation, Dassault Systèmes SE, Hexagon AB, Autodesk Inc., Siemens Digital Industries Software Inc., ANSYS Inc., PTC Inc., Bentley Systems Incorporated, Altair Engineering Inc., 3D Systems Corporation, C3.ai Inc., ESI Group, Anthropic Inc., LeewayHertz Technologies Inc., Plex Systems Inc., nTopology Inc., Markovate Inc.
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Which Regions Are Anticipated To Post The Highest CAGR In The Generative Artificial Intelligence (AI) In Engineering Market?
North America was the largest region in the generative artificial intelligence in engineering market in 2024. The regions covered in the generative artificial intelligence in engineering market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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