Work of art: As corporate profit grows, companies will increasingly contract industry operators

Industrial designers are hired primarily by manufacturers to improve the functionality, longevity and production efficiency of a range of goods. Over the past five years, increased consumer spending on cars, furniture and other durable goods have stimulated downstream demand for the industry's services, resulting in rising revenue. As these downstream industries have rebounded from tepid demand earlier in the period, total spending on research and development (R&D) budgets has grown, resulting in greater use of the industry's services. Over the coming years, consumers will increasingly seek highly differentiated, aesthetically pleasing and efficient products, ranging from cars to electronics to furniture, generating sustained demand for industrial designers...read more.

Industry Statistics & Market Size
Revenue
$3bn
Annual Growth 12-17
2.7%
Forecast Growth 17-22
Profit
Employment
29,279
Businesses
12,575
What Our Customers Say

Industry Threats & Opportunities

  • Consumers will seek highly differentiated and aesthetically pleasing products
  • Companies must contract industrial designers to keep up with new inventions
  • Consumers will demand new, innovative electronics in the coming years
  • Industry Report - Industry Analysis Chapter

    The Industrial Design industry develops models and specifications for mass-produced products on behalf of clients involved in the manufacturing and professional services sectors. According to the National Endowment for the Arts, the number of US designed patents awarded in 2012 (latest available data) were at an all-time high. Rapid technologic change coupled with improvements in the overall economy and changing consumer preferences resulted in increased use of the Industrial Designers industry’s services by key downstream markets; consequently, industry revenue is projected to grow at an annualized rate of 2.7% over the five years to 2017 to reach $2.8 billion, including an estimated 2.6% in 2017 alone...purchase to read more.

    Additional Insights for the Industrial Designers Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Industrial Designers Industry are

  • Having a good reputation
  • Having a high prior success rate (including completed prior contracts)
  • Market research and understanding
  • IBISWorld analysts also discuss how external factors such as Research and development expenditure and Corporate profit in the Industrial Designers industry impact industry performance..

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    What is the Industrial Designers Industry?

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

    Industry Products
  • Product design
  • Model design and fabrication
  • Other industrial design services
  • Industry Activities
  • Industrial design consulting services
  • Consumer electronics design services
  • Automobile industrial design services
  • Furniture design services
  • Medical equipment design services
  • Packaging industrial design services
  • Hand tool design services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Research and development expenditure
  • Corporate profit
  • Demand from car and automobile manufacturing
  • Demand from computer and electronic product manufacturing
  • Demand from furniture and related product manufacturing
  • Total health expenditure

  • Current Performance
  • Demand increases
  • Advances in medicine
  • Profit
  • Chart: Revenue Growth

  • Industry Outlook
  • Driving innovation
  • Striving to compete
  • Table: Industrial Designers Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Industrial Designers Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Manufacturing
  • Retail Trade

  • Key Selling Industries
  • Computer & Packaged Software Wholesaling
  • Copier & Office Equipment Wholesaling
  • Office Stationery Wholesaling

  • Products & Services
  • Product design
  • Model design and fabrication
  • Other industrial design services
  • Chart: Industrial Designers Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Automobiles
  • Other
  • Electronics
  • Medical equipment
  • Furniture
  • Chart: Major Market Segmentation for the Industrial Designers Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitWagesPurchasesOther expenses
  • Chart: Cost Structure Benchmarking – Sector vs Industrial Designers

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Industrial Designers Industry

  • Industry Globalization
    CH2M Hill Companies Ltd.Bureau Veritas GroupIDEO
  • Table: CH2M Hill Companies Ltd. - financial performance
  • Table: Bureau Veritas Group - financial performance
  • Table: IDEO - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Industrial Designers Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Industrial Designers Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Research and development expenditure (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Freelance
  • Working independently or on temporary contracts rather than full-time employment through a company.
  • Intellectual Property
  • Legal protection of a firm's designs and ideas.
  • Research And Development (R&D)
  • Creative work undertaken by a company in order to increase the stock of knowledge, which can then be applied to developing a new product or improving an existing one.
  • Why buy this report?

    IBISWorld’s Industrial Designers Industry Research Report offers insight into the market at the national level. Our analysis highlights macro trends in the overall sector and the micro trends faced by companies that do business in the Industrial Designers industry. Our five-year outlook forecasts explain how the market is set to change and the product segments that will drive growth.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Industrial Designers:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Industrial Designers market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Industrial Designers, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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