Industrial Designers in the US - Industry Market Research Report

Industrial Designers in the US - Industry Market Research Report
Industrial Designers in the US

The world is far more carefully designed than many consumers expect. Nearly every purchasable item made of durable materials, from cars to clothes washers to resin manufacturing machines, must be thoughtfully created. Manufacturers of these many products hire industrial designers to improve the functionality, longevity, production efficiency and general value of a range of goods. Since the COVID-19 pandemic, consumer and business spending on durable investments has stimulated research and development (R&D), translating to greater use of design teams. Increases in healthcare spending sparked by the pandemic also necessitated a rethink of medical equipment. As a result of the recovering economy, revenue for the Industrial Designers industry has been rising, growing at an annualized 5.7% over the past five years, and is expected to reach $4.9 billion in 2023. Nonetheless, industry revenue growth is anticipated to slow, falling 1.1% in 2023 in line with record-high interest rates. The macroeconomic environment will heavily determine short-term income for designers.

This industry includes companies that primarily develop designs and specifications for mass-produced products. Services include deciding the materials, construction, mechanism, shape, color and surface finishes of products to improve their market appeal, production, use and maintenance. For example, industry operators design automobiles, furniture and packaging.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.