Design Thinking Market Report 2023 (Global Edition)

Global Design Thinking Market Report 2023 talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Design Thinking Industry growth. Design Thinking market has been segmented with the help of its Component, Deployment Enterprise Size, and others. Design Thinking market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.

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Design Thinking Market, by Type

• Software

The Software Revenue in Design Thinking is anticipated to reach USD 1,461.79 Million by 2028. The design thinking software program takes teams step by step through the invention process. Through digital engagement, the software assists teams in tackling creative difficulties, learning to work successfully, and saving time and money in the process. With the support of design thinking software, users may brainstorm new ideas in real-time, draw links between ideas and product solutions, and more. The software also includes a journey map editor and a stakeholder map designer, allowing customers to interact with their team and create strategically from the start.

• Services

A well-designed service in the service industry puts the consumer at the center of the design process. These customers commonly used design principles, tools, processes, and an empathic understanding of customer needs. Design thinking service is a holistic, customer-centric approach to designing services that deliver a discernible difference that customers perceive provides a positive value proposition and/or 'edge' over competing services. Design thinking services are aimed at the end-user, bringing a collaborative method to concept construction that allows non-designers and designers to work together on something creative

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Design Thinking Market, Application Segment Analysis

• Software as a Service

The Software as a Service segment revenue will be USD 1,445.28 Million by 2028. Software as a service (SaaS) is a software licensing and delivery paradigm in which designing software is licensed and hosted centrally on a subscription basis. Designers are increasingly focusing on services such as SaaS. (Software as a service) rather than tangible items. Clients can use design thinking software-as-a-service to document, visualize, and manage all of their innovation efforts using design thinking 

• On-Premises

On-premises refers to software and technology for design thinking that are physically placed within the bounds of an enterprise, typically in the company's data center, as opposed to running remotely on hosted servers or in the cloud. On-premises explores how design thinking software helps businesses in securing all design thinking outcomes.

The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Design Thinking market report 2023 Edition by contacting our team.

Design Thinking Enterprise Size Segment Analysis

• Large Enterprise

The Large Enterprise Revenue in Design Thinking is projected to reach USD 1,847.69 Million by 2028. Design is coming closer to the center of the enterprise in large organizations. This transition, however, is not about aesthetics or product development. It is all about teaching design principles, also known as design thinking. Design thinking is a critical tool for streamlining and humanizing processes. As businesses adopt design thinking to solve their problems, they also have a significant opportunity to use the skills and resources they develop to support and drive large-scale social innovation programs

• Small and Medium Enterprise

Small businesses encounter a variety of obstacles as a result of changing markets. New trends continue to emerge, influencing client needs; as a result, small and medium businesses should adapt to keep up with the times. Small and medium business owners are typically too preoccupied with their habits to notice them. Design thinking is a new approach that can assist these businesses in rethinking how their habits and rituals are robbing them of time and suffocating their growth. It allows businesses to think beyond the box and motivates them to achieve new heights.

• Large Enterprise
• Small and Medium Enterprise

Design Thinking Industry Segment Analysis

• Automotive

The Automotive Revenue in Design Thinking is anticipated to reach USD 452.71 Million by 2028. Automotive design is the consideration of aesthetics throughout the product development of an automobile. Design thinking is used by automakers to improve their competitiveness. Design thinking meets rising vehicle quality, dependability, safety, and utility standards while still surviving in today's hyper-competitive business environment. This consideration extends to all areas of the product that are readily visible to the customer, including metal, glass, wheels, lamps, mirrors, grilles, badges, and other adornments on the exterior, and all visible soft trim, including seats, door trims, instrument panel, and controls; steering wheel, switches, radio, console, and other adornments on the interior.

• Electrical and Electronics

Design thinking is used in electrical and electronic engineering to change people's minds, create creativity, and solve usability problems. It is frequently utilized in the electrical and electronics industries during the research and development stage. Several companies have hired in-house designers to help with research and development, product development, and marketing, all of which are part of the innovation process.

• Pharmaceutical

Design thinking in pharma refers to the use of design to generate ideas that better connect with and serve the patient experience. Given the present desire for more patient-centered products and services, design thinking can be seen as a fundamental competency that can differentiate a pharmaceutical company from the competition. It can be utilized in pharma firms to improve technology, organizational procedures, machines and technological gadgets, medicine manufacture, and a variety of other activities. In the pharmaceutical sector, design thinking can help with clinical trials, diagnosis, and treatment. Throughout healthcare programs, design thinking is also employed to detect and remedy experiencing difficulties.
 

• Retail and e-commerce

Design Thinking may help merchants grasp how, when, and what to provide a satisfying experience during customer encounters. It has the potential to revitalize and maintain the relevance of brick-and-mortar establishments. Retailers can use design thinking to examine and predict customer experience gaps that go beyond technical enablement, resulting in compassionate and delightful consumer encounters. Design thinking also assists in focusing on e-commerce solutions and developing customer empathy. Design thinking in E-commerce has stimulated the interest of organizations, small and medium-sized businesses, government officials, researchers, and the general people throughout the world. It helps improve content-centric design and experience, time-saving design components, and a smart and tailored user experience in e-commerce.
 

• Manufacturing

Design thinking is the practice of focusing on the end user's experience and matching people's demands when producing new products. As factories become more interconnected, adopting this method in a manufacturing facility is a means to obtain a competitive advantage. Manufacturing facilities employ design thinking ideas to shorten product development cycles, extend product life, and place a greater emphasis on product quality and usability. Manufacturing facilities can employ design thinking to observe end-users, hold dialogues with them, collaborate, and create new goods.

• BFSI

Design Thinking is an effective approach for architecting digital financial products in banking. It opens up a whole range of prospects for businesses in the BFSI sector. Bank operations are shifting their focus from "managing" to "pioneering" offerings and solutions for their client’s convenience and benefit. Design thinking requires financial institutions to provide intuitive, secure, and fulfilling services by including customers in product development and improvement. Design thinking is crucial for BFSI organizations because of the severe financial requirements that often impede development.

• Others

Design thinking approaches were used by a variety of other businesses, including the government, aerospace, education, the food and beverage industry, entertainment, travel, hospitality, and many more. When it comes to planning and building effective public services, governments throughout the world are turning to design thinking. Design thinking has the potential to reconnect educators with their creativity and goals, allowing them to better assist students in developing their abilities. Similarly, design thinking was used by various entertainment organizations to change their shows and user experiences.

• Automotive
• Electrical and Electronics
• Pharmaceutical
• Retail and e-commerce
• Manufacturing
• BFSI
• Others

Design Thinking Market Regional Analysis

Region and country analysis section of Design Thinking Industry Analysis has been segmented into 5 major region such as North America, Europe, Asia Pacific, Middle East & Africa ,and Latin America (along with respective major contributing countries) and provides the revenue share, current trends.

The base years considered for all the estimations by analyzing trends and growth rate will help you gain an in-depth understanding of the conclusions provided in this report. This report also includes figures, graphs, pie charts, tables and bar graphs that explain the data analysis based on current trends at the country level as well as key regions. This research report also focuses on assessing factors such as profit, product price, capacity, production, supply demand market growth rate along with others to create a clear picture on the future prospects of Design Thinking market.

Region-wise, the market is analyzed across: (In case you wish to acquire a specific region or any country data then please contact us)

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!

The base years considered for all the estimations by analyzing trends and growth rate will help you gain an in-depth understanding of the conclusions provided in this report. This report also includes figures, graphs, pie charts, tables and bar graphs that explain the data analysis based on current trends at the country level as well as key regions. This research report also focuses on assessing factors such as profit, product price, capacity, production, supply demand market growth rate along with others to create a clear picture on the future prospects of this market.

Design Thinking Industry News: 

• IBM Corporation

IBM is a U.S. based Information Technology & Services company. International Business Machines or IBM is a multinational technology company that produces and sells computer hardware, middleware and software, and offers hosting and consulting services in areas ranging from mainframe computers to nanotechnology. The services provided by companies include managed network service, cybersecurity, hardware, software maintenance, hybrid cloud service. While the company’s businesses include Cloud, Mobile, Cognitive, Security, Research, Watson, Analytics, Consulting, Commerce, Experience Design, Internet of Things, Technology support, Industry solutions, Systems services, Resiliency services, Financing, and IT infrastructure. Moreover, the company’s cloud platform and cognitive solutions are gaining recognition worldwide.

November 2021

IBM Corporation acquired SXiQ, an Australian digital transformation services company

IBM Corporation engaged in acquisition with SXiQ, which is an Australian digital transformation services specialized in cloud application, platform and cybersecurity solutions. IBM’s hybrid cloud and AI strategy by helping enterprises modernize and transform complex mission-critical applications on multiple clouds and platforms.

June 2021

Telefonica Tech and IBM launch hybrid cloud enterprise solutions based on Artificial Intelligence and Blockchain
Telefonica Tech company collaborated with IBM announced new hybrid cloud solutions that helps enterprise in digitally transforming using AI and blockchain technology.

• Planbox, Inc.

Planbox, Inc. provides innovation management platform and services empower medium and large-sized organizations to become more adaptive, creative, and resilient. The company has presence in over 140 countries. Planbox has offices in Canada, UK, and USA. 

The company provides their solution to the following industries

• Energy & Utilities
• Healthcare
• Financial Services
• Manufacturing
• Transportation & Logistics
• Consumer & Retail Brands
• Media & Entertainment
• Public Sector

May 2020

Planbox Acquired IdeaConnection, the Best-in-Class Open Innovation Expert Solver Network 

Planbox, announced that it has acquired IdeaConnection, an innovation platform and marketplace. This is the fourth acquisition for Planbox since 2015 as it continues to develop and lead with the most comprehensive agile innovation management solution in the market.

Top Companies Market Share in Design Thinking Industry: (In no particular order of Rank)

• Enigma
• Adobe Systems
• IBM Corporation
• Intuit
• UpBOARD
• IDEO
• Planbox
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