1 Global Design Thinking Market Outlook
The global Design Thinking market is projected to exhibit substantial growth in the coming years, with a CAGR of 7.17% from 2024 to 2033, reaching a total market size of $8125.29 million USD in 2024. Design Thinking is a human-centered approach to innovation that integrates the needs of people, the possibilities of technology, and the requirements for business success. It emphasizes empathy, creativity, and experimentation to solve complex problems and drive meaningful change. This methodology is increasingly adopted across various industries, including BFSI, automotive, consumer electronics, healthcare, retail and e-commerce, and manufacturing, to enhance user experience and drive innovation.
Figure Global Design Thinking Market Size and Growth Rate (2024-2033)
2 Design Thinking Market Growth Drivers and Constraints
The growth of the Design Thinking market is driven by several key factors. Firstly, the increasing importance of customer experience and the need for faster innovation cycles are driving businesses to adopt Design Thinking methodologies. This approach helps organizations better understand user needs, leading to more effective and user-centric solutions. Secondly, the expanding scope of Design Thinking services, including user experience design, service design, and business model innovation, is creating new opportunities for market expansion. Additionally, the growing adoption of Design Thinking by small and medium-sized enterprises (SMEs) is fueling market growth, as these businesses seek innovative solutions to gain a competitive edge.
However, the market also faces several limiting factors. One of the primary challenges is the high entry barriers, including significant financial investments required to develop Design Thinking tools and techniques. This makes it difficult for new entrants to gain a foothold in the market. Additionally, finding experienced and qualified personnel to manage and execute Design Thinking programs is a significant challenge for companies looking to expand. The diverse and industry-specific requirements of Design Thinking services also make it difficult to scale operations, further hindering market growth.
3 Design Thinking Market Innovations and M&A Activities
Technological innovation is playing a crucial role in the evolution of the Design Thinking market. The integration of artificial intelligence (AI) and machine learning (ML) into Design Thinking processes is becoming increasingly common. These technologies are used to analyze user behavior, generate design options, and predict user needs, thereby enhancing the efficiency and effectiveness of the Design Thinking methodology. AI tools can help automate tedious operations, provide deeper insights from data, and generate more creative solutions to complex problems.
Corporate mergers and acquisitions are also shaping the market landscape. For example, VRIZE acquired Perfomatix in October 2023 to bolster its market leadership in next-generation frictionless solutions. This acquisition enhanced VRIZE’s capabilities in product engineering, data engineering, and data science, allowing it to offer more comprehensive solutions to its clients. Similarly, Accenture completed the acquisition of OPENSTREAM HOLDINGS in July 2024, adding cloud and digital experts to its teams and strengthening its capabilities in system and application modernization. These strategic moves are aimed at expanding market reach, enhancing service offerings, and staying competitive in the rapidly evolving Design Thinking market.
In conclusion, the Design Thinking market is poised for significant growth, driven by the increasing demand for user-centric solutions and the integration of advanced technologies. However, high entry barriers and the need for specialized talent pose challenges for new entrants. Companies that can effectively leverage technological innovation and strategic partnerships are likely to gain a competitive advantage and drive the future growth of the Design Thinking market.
4 Global Design Thinking Market Analysis by Type
In 2024, the global Design Thinking market is segmented into two main types: Software and Services. The Software segment is valued at USD 1,840.38 million, accounting for approximately 22.65% of the total market value. Meanwhile, the Services segment holds a larger share, with a value of USD 6,284.91 million, representing about 77.35% of the total market value. This indicates that while both segments are significant, the Services segment currently dominates the Design Thinking market in terms of value and market share.
Table Global Design Thinking Market Size and Share by Type in 2024
Type | Market Size in 2024 (M USD) | Market Share in 2024 (%) |
|---|---|---|
Software | 1840.38 | 22.65% |
Services | 6284.91 | 77.35% |
5 Global Design Thinking Market Analysis by Application
In 2024, the global Design Thinking market is distributed across several key applications, with varying values and market shares. The BFSI (Banking, Financial Services, and Insurance) sector holds the largest share, valued at USD 2,038.64 million, accounting for 25.09% of the total market. The Automotive industry follows with a value of USD 478.58 million, representing 5.89% of the market. Consumer Electronics is valued at USD 1,000.22 million, holding a 12.31% market share. Healthcare accounts for USD 809.28 million, or 9.96% of the market. Retail and E-commerce contribute USD 708.53 million, making up 8.72% of the market. The Manufacturing sector is valued at USD 1,282.17 million, representing 15.78% of the market. Lastly, the “Others” category, which includes various other applications, is valued at USD 1,807.88 million, accounting for 22.25% of the total market value. This distribution highlights the diverse applications of Design Thinking across multiple industries, with BFSI and Manufacturing being the most prominent sectors in terms of both value and market share.
Table Global Design Thinking Market Size and Share by Application in 2024
Application | Market Size in 2024 (M USD) | Market Share in 2024 (%) |
|---|---|---|
BFSI | 2038.64 | 25.09% |
Automotive | 478.58 | 5.89% |
Consumer Electronics | 1000.22 | 12.31% |
Healthcare | 809.28 | 9.96% |
Retail and E-commerce | 708.53 | 8.72% |
Manufacturing | 1282.17 | 15.78% |
Others | 1807.88 | 22.25% |
6 Global Design Thinking Market Analysis by Region
In 2024, the global Design Thinking market value is forecasted to reach USD 8,125.29 million, distributed across various regions with distinct market shares. The United States leads with a value of USD 3,483.31 million, representing 42.87% of the global market. Europe follows closely with a value of USD 2,251.52 million, holding a 27.71% market share. China is positioned as the third-largest market, valued at USD 684.15 million, accounting for 8.42% of the global market. Other notable regions include Japan with USD 260.01 million (3.20%), India with USD 137.89 million (1.70%), Southeast Asia with USD 91.00 million (1.12%), Latin America with USD 399.76 million (4.92%), and the Middle East and Africa with USD 257.57 million (3.17%). The “Others” category, which includes smaller regions, is valued at USD 560.08 million, representing 6.89% of the market. This regional distribution underscores the dominance of the United States and Europe in the Design Thinking market, while also highlighting the growing significance of emerging markets like China and Southeast Asia.
Figure Global Design Thinking Market Share by Region in 2024
7 Top 3 Companies of Global Design Thinking Market
7.1 IBM Corporation
Company Introduction and Business Overview:
IBM Corporation, established in 1911 and headquartered in Armonk, New York, USA, is a multinational technology and consulting corporation. IBM operates through several segments, including Software, Consulting, Infrastructure, and Financing. The company is renowned for its hybrid cloud and AI platforms, which enable clients to accelerate their digital and AI transformations across various applications, data, and environments. IBM’s consulting segment focuses on integrating skills for strategy, experience, technology, and operations across different domains and industries.
Products Offered:
IBM offers a comprehensive suite of Design Thinking products and services aimed at fostering innovation and solving complex business problems. A key offering is IBM Design Thinking, a scalable framework that emphasizes a continuous cycle of observing, reflecting, and making. This framework, known as “The Loop,” encourages teams to discover user needs and envision better futures through iterative processes. IBM’s Design Thinking solutions are particularly effective in helping organizations achieve customer-centricity and drive meaningful change.
Sales Revenue in the Latest Year:
IBM’s Design Thinking segment generated a revenue of USD 617.78 million. This revenue underscores IBM’s strong market position and its ability to deliver value through innovative Design Thinking methodologies and solutions.
7.2 Accenture
Company Introduction and Business Overview:
Accenture, founded in 1989 and headquartered in Dublin, Ireland, is a leading global professional services company. Accenture provides a wide range of services, including management consulting, technology, and outsourcing services. The company operates across various industries, such as BFSI, consumer goods, healthcare, and technology, offering tailored solutions to meet diverse client needs. Accenture’s strategic acquisitions and partnerships have significantly enhanced its capabilities and market reach.
Products Offered:
Accenture’s Design Thinking approach is centered on generating innovative solutions to complex business problems. The company’s Design Thinking methodology is action-oriented, focusing on creating a preferred future design that addresses both specific issues and broader, enterprise-wide challenges. Accenture’s services include user experience design, service design, and business model innovation, all aimed at improving customer satisfaction and driving business growth.
Sales Revenue in the Latest Year:
Accenture’s Design Thinking segment achieved a revenue of USD 522.93 million. This figure reflects Accenture’s continued success in leveraging Design Thinking to deliver impactful solutions and maintain a strong market presence.
7.3 Capgemini (Frog Design Inc.)
Company Introduction and Business Overview:
Capgemini, established in 1967 and headquartered in Paris, France, is a global leader in consulting, digital services, and technology solutions. Capgemini operates through several brands, including Capgemini, Sogeti, and Invent, offering a wide range of services across various industries. The company’s strategic focus on digital transformation and innovation has positioned it as a key player in the Design Thinking market.
Products Offered:
Capgemini’s Design Thinking offerings are designed to help organizations achieve true customer-centricity by transforming their internal structures and processes. The company’s DesignOps framework empowers clients to elevate design within their organizations, addressing design purpose, talent, processes, enabling technology, and organizational structure. Capgemini’s services include organizational design, which aims to accelerate innovation and reshape culture and operations to improve employee and customer experiences.
Sales Revenue in the Latest Year:
Capgemini’s Design Thinking segment recorded a revenue of USD 228.64 million. This revenue highlights Capgemini’s strength in delivering Design Thinking solutions that drive organizational change and innovation.