Figma simply introduced a brand new spherical of funding of $200 million, which can give it a valuation of $10 billion — 5 occasions its valuation final 12 months initially of the pandemic. This continues the development of money flowing into the $162 billion design trade. Nonetheless, not like recent analytics investments, this cash goes into the making facet of design, versus the person/buyer understanding facet.
Our knowledge means that Figma is gaining popularity, as are design systems — a key use case. It’s additionally valued for its distant collaboration capabilities — one thing that our new world of hybrid work calls for.
Figma faces Adobe, InVision, and lots of others, however the future is vivid for each single one of those corporations.
Right here’s why:
- We’re initially of design’s affect. Our knowledge means that 73% of corporations are design inexperienced persons. Which means they self-report that they don’t reliably use buyer understanding and iteration to refine what they create.
- Design deficits abound. Design’s capability to make folks extra productive, extra inventive, and happier at work is simply simply now being harnessed. Plus, there’s little design effort on chatbots or notifications. These are simply a few of many common design deficits.
- Design groups continue to grow. Our knowledge suggests most design groups count on to develop this 12 months — one-third by 25% or extra. Even if automation might have an effect on a few of these jobs, many design deficits can’t be solved with out the onerous work of people using analysis and utilizing their creativity.
- The most important participant retains rising — however it’s complementary. Adobe grew Artistic Cloud by 24% final quarter. Adobe’s Artistic Cloud enterprise probably has a market cap of 13 occasions Figma’s valuation. However most corporations have a number of design instruments, that means Adobe and Figma will be complementary. Plus, there’s a complete new world of design coming within the development of 3D, augmented actuality, and VR.
What we count on to occur:
- A better push into utilizing these instruments as centerpieces of collaboration past the design staff
- Extra demand for design
- Extra open sourcing and sharing of file varieties (all gamers develop into frenemies)
- Extra designers will imply extra licenses
- Extra money flows in
Extra excellent news for anybody trying to make experiences higher for folks!