Dublin, June 27, 2024 (GLOBE NEWSWIRE) -- The "AI-Powered Design Tools Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
Global AI-Powered Design Tools Market Projected to Reach $5.54 Billion in 2024
Overview of Market Growth
The AI-powered design tools market is experiencing an unprecedented growth surge, with projections indicating an ascent from $4.54 billion in 2023 to $5.54 billion in 2024, marking a robust compound annual growth rate (CAGR) of 21.9%. This remarkable expansion is fueled by the augmented adoption of automation within design processes, an intensified focus on the user experience (UX) and user interface (UI) design, an escalating demand for tailored design solutions, the pursuit of accessible and democratized design tools, and the burgeoning requirement for visually compelling digital content in the e-commerce sector.
Future Growth and Innovations
The sector is poised for continued exponential growth, with expectations of reaching $12.34 billion by 2028, growing at a CAGR of 22.2%. Anticipated to shape this trajectory are the rising adoption rates of AI-powered tools across diverse industries, burgeoning demands for personalized design solutions, and the necessity for swift prototyping as well as iterative design processes. Emerging trends are likely to see the widespread adoption of cloud-based solutions to boost accessibility and collaborative efforts, integration of AI design tools with AR and VR technologies for immersive experiences, harmonious collaboration between AI advances and human creativity, and the application of natural language processing to streamline design workflows.
Impact of Digital Channels
Digital channels are significantly influencing the AI-powered design tools market. These online platforms, encompassing social media and e-commerce among others, serve as key mediums for marketing and content distribution, propelled by enhanced Internet accessibility, personalization, integration, and cost-effectiveness. AI design tools are instrumental in enhancing the efficiency of these digital channels, as evidenced by substantial growth in e-commerce sales and social media usage.
Business Developments
At the forefront of technology innovation, key players in the market are producing transformative solutions such as Locofy Lightning, an application that uses AI to convert design mockups into functional web code. Similarly, Adobe Inc.’s strategic acquisition of Rephrase.ai has the potential to revolutionize video creation capabilities. Such innovations indicate a fierce competition among market competitors to meet customer demands and shape the future of AI-powered design tools.
Regional Insights
North America currently leads as the largest region within the AI-powered design tools market. The global landscape of the market covers diverse regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa, with comprehensive country-level analysis provided for the industry's performance and strategic growth opportunities.
Applications and Segments
The vast array of AI-powered design tools includes graphic design, UX/UI design, automated content creation, image and video processing, and other specialized applications and technologies. These innovative tools, critical in accelerating design processes and empowering designers, span across multiple industry verticals including automotive, media, fashion, architecture, and retail among others.
About the AI-Powered Design Tools Market
The AI-powered design tools market encompasses a vast ecosystem offering tools for generative design, prototyping, personalization, automation, and workflow optimization. This market's value is comprehensively represented by revenues obtained through the provision of advanced services and related goods, emphasizing the creators' contribution across the manufacturing and direct customer sales spectrum.
In a rapidly evolving digital environment, the AI-powered design tools market not only catalyzes design innovation but also augments the effectiveness of digital content creation, responding adeptly to the fluid demands of an increasingly visual and interconnected world.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $5.54 Billion |
| Forecasted Market Value (USD) by 2028 | $12.34 Billion |
| Compound Annual Growth Rate | 22.2% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes, but is not limited to:
- Adobe Inc
- Autodesk Inc
- Canva Inc
- Figma
- Tailor Brands LLC
- InVisionApp Inc
- Corel Corporation
- Design Pickle
- Desygner Inc
- Sketch Inc
- Affinity Designer
- BrandCrowd
- Bannersnack
- Crello
- Looka
- Design Wizard
- Vecteezy
- Designhill
- Vectary
- Snappa
- PicMonkey
- Lunacy
- Vectr
- Gravit Designer
- Boxmode
For more information about this report visit https://www.researchandmarkets.com/r/jni9pv
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