Industrial Design Services Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 7/25/2022
SIC Codes: 7389
NAICS Codes: 541420
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Industrial Design Services Industry Profile

Companies in this industry create and develop designs for manufactured products. Major companies include Ammunition, Designworks (owned by BMW), Frog Design, IDEO, RKS, and Smart Design (all based in the US), as well as Alessi (Italy), BUSSE Design (Germany), PDD and Seymourpowell (both based in the UK).

Globally, applications from Germany, the US, Switzerland, Republic of Korea, Italy, and the Netherlands had the most registered industrial designs in 2020, according to Statista.

The US industrial design services industry includes about 1,600 establishments (single-location companies and units of multi-location companies) with annual revenue of about $2 billion.

COMPETITIVE LANDSCAPE

Demand for industrial design is driven by consumer spending and advances in technology. The profitability of individual companies depends on efficient operations and effective marketing. Large companies have advantages in taking on multiple projects and serving major customers. Small companies can compete effectively by specializing. The industry in the US is?concentrated: the top 50 companies account for about 50% of industry revenue.

Customers and prospects become competitors when they bring design services in-house rather than hire industrial design firms. Freelance designers may be competitors or contract labor.

PRODUCTS, OPERATIONS & TECHNOLOGY

Major services is dominated by industrial design services and industrial design services for products which account for about 90% of the industry's revenue. Other services include consulting services (about 10%); model design and fabrication services (about 5%); developing and making prototypes (less than 5%); and full-service interior ...

 
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