AI-Powered Design Tools Market to Revolutionize Digital Creativity - 2024 Global Outlook

"The Business Research Company recently released a comprehensive report on the Global AI-Powered Design Tools Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The AI-powered design tools market size has grown exponentially in recent years. It will grow from $4.54 billion in 2023 to $5.54 billion in 2024 at a compound annual growth rate (CAGR) of 21.9%. The growth in the historic period can be attributed to increased adoption of automation, growing emphasis on user experience (UX) and user interface (UI) design, rising demand for personalization, accessibility and democratization of design, rise of e-commerce.

The AI-powered design tools market size is expected to see exponential growth in the next few years. It will grow to $12.34 billion in 2028 at a compound annual growth rate (CAGR) of 22.2%. The growth in the forecast period can be attributed to increased adoption across industries, rise of generative design, increased personalization demand, rapid prototyping and iterative design. Major trends in the forecast period include cloud-based solutions, integration with augmented reality (AR) and virtual reality (VR), integration of ai and human creativity, natural language processing (NLP) in design workflows.

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Market Drivers and Trends:

The rise of digital channels is expected to propel the growth of the AI-powered design tools market going forward. Digital channels include the various online platforms and mediums through which communication, marketing, and distribution of content or services occur, such as social media and e-commerce. It arises because of increased Internet penetration, personalization and targeting, cost-effectiveness, integration and synergy, and cost-effectiveness. AI-powered design tools are used in digital channels to leverage artificial intelligence and machine learning algorithms to streamline design processes, enhance creativity, and improve efficiency. For instance, in February 2024, according to the United States Census Bureau, a US-based government agency, total e-commerce sales were estimated at $1,118.7 billion by 2023, which increased by 7.6% (±1.2%) from 2022, and e-commerce total sales increased by 15.4% in 2023 from 14.7% in 2022. Furthermore, according to Avocado Social, a UK-based social media marketing consultancy, overall social media user numbers rose by 424 million in 2021, a growth rate of more than 10%, representing 4.6 billion social media users worldwide. Therefore, the rise of digital channels is driving the growth of the AI-powered design tools market.

Major companies operating in the AI-powered design tools market are focusing on developing innovative AI solutions, such as locofy lightning, to stay competitive and meet the evolving needs of their customers. Locofy Lightning is a software application that utilizes artificial intelligence and machine learning algorithms to automate converting visual design mockups or prototypes into functional HTML, CSS, and JavaScript code for web development. For instance, in January 2024, Locofy.ai, a Singapore-based tech company, launched locofy lightning. This AI-powered web design-to-code tool aims to streamline the process of converting figma designs into production-ready frontend code for websites and mobile apps. This tool, available as a figma plug-in, automates frontend development by generating high-quality, pixel-perfect code that is interactive, responsive, and component-based. Additionally, it features one-click conversion, pre-trained AI models, a design optimizer, and code components and props. These features aim to provide developers a seamless and efficient experience, allowing them to focus on more creative and strategic aspects of web development while automating converting designs into code.

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Major Key Players of the Market:

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

AI-Powered Design Tools Market 2024 Key Insights:

• The AI-powered design tools market size is expected to see exponential growth in the next few years. It will grow to $12.34 billion in 2028 at a compound annual growth rate (CAGR) of 22.2%.
• Digital Channels Driving AI-Powered Design Tools Market
• Revolutionizing Web Development Introducing An AI-Powered Design-to-Code Tool
• North America was the largest region in the AI-powered design tools market in 2023

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