2016 State of Hardware Report
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Our 2016 State of Hardware Report, featuring data from over 200 hardware industry professionals around prototyping tools, preferred CAD software programs, what's build in-house vs outsourced, and more.
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2016 State of Hardware Report
- 2. The hardware industry is growing at an exhilarating pace. More companies are developing innovative products, we have better tools for prototyping and manufacturing, and access to these tools—and the knowledge around how to use them—is becoming more universally available. But we still have a ways to go before hardware development can be truly accessible to everyone—companies face a myriad of complex challenges in taking an idea and turning it into a commercially viable product. So to better understand these challenges, we surveyed over 200 people in the hardware community and today we’re excited to share our findings with you in this free report. We recognize this is only a small sampling of what’s going on in the larger ecosystem, but we hope this snapshot provides value to the community so we can all reflect, continue to iterate, and innovate our way to better hardware development. At Fictiv, we’re working everyday to make it easier for companies to develop physical products by building better tools and creating better resources for truly democratized hardware development. INTRODUCTION 2
- 3. personal electronics 30% home automation 16% other 9% business tools & infrastructure 7% education 4% accessories 3% automotive 2% sports & fitness 7% medical 8% hardware platform 6% aerospace 4% industrial robotics & automation 4% INDUSTRIES 3
- 5. Hardware companies are working to build products faster Most companies budget 1-3 months to build functional prototypes 4% answered N/A 1 mo0 2 mo 3 mo 4 mo 5 mo 6 mo 7 mo 8 mo 9 mo 10 mo 11 mo 12 mo 13 mo 41% 22% 13% 7%13% 1-3 mos 1-3 mos 1-3 mos medicalpersonal electronics accessories 4-6 mos 1+ yr business tools & infrastructure aerospace 1-6 mos sports & fitness 1-3 mos hardware platform 1-6 mos home automation 6
- 6. Most companies budget another 3-6 months to go from functional prototype to production 1 mo 2 mo 3 mo 4 mo 5 mo 6 mo 7 mo 8 mo 9 mo 10 mo 11 mo 12 mo 22% 11%11%31% 15%10% 6 - 12+ mos home automation 3-6 mos medical 3-6 mos personal electronics 3-6 mos sports & fitness 1-6 mos accessories 12+ mos 6 - 12+ mos3 - 8 mos business tools & infrastructure aerospacehardware platform 0 13 mo 7
- 7. But there are still hurdles preventing companies from shipping on time 4 in 5 of the VC backed crowdfunded projects were late in 2014. 30% of late projects still hadn’t shipped by Q1 2015. – TechCrunch’s The State of Hardware Crowdfunding in Q11 | 2015 8
- 8. Most common prototyping tools Hardware companies have access to more tools CNC Laser Cutting Duct Tape Foam/Clay Models Injection Molding 3D Printing 91% 73% 65% 46% 34% 31% RTV Molding 23% ELECTRICAL MECHANICAL Arduino OthermillCustom PCBA 64% FPGA 9% 56% Bread- board 58% Partical Photon 8% Raspberry Pi 34% 6% Survey participants could select more than one answer 5
- 9. DESIGN 9
- 10. Solidworks is the most commonly used CAD program 17% Autodesk Inventor 14% Rhino 12% OnShape OpenSCAD PTC Creo 9% 9% 7% Blender Autodesk TinkerCAD, NX CAD, Alias FreeSCAD, NX CAD, Maya 70% Solidworks 20% Autodesk Fusion360 5% EACH 4% EACH 10
- 11. More than half of Solidworks users (52% ) use it with other programs Autodesk Inventor 15% OpenSCAD 5% Catia 4% Rhino 15% Autodesk Fusion 15% PTC Creo 11% Blender 6% Autodesk Tinker 2% Alias 4% OnShape 13% FreeSCAD 4% NX CAD 4% Altium 3% Maya 5% SOLIDWORKS + ___________ Survey participants could select more than one answer
- 12. BUSINESS 12
- 13. Raising capital is top of mind for hardware companies Hiring talent Finding the right manufacturing partners Fast development Distribution Funding and resources is perceived as the greatest challenge in bringing a successful product to market Funding & resources 28% 21% 15% 12 %13% 3% of participants answered Access to Tools and 8% answered Other 13
- 14. – Fred Wilson, co-founder of Union Square Ventures Jan 1, 2016 Venture Outlook 20162 What Is Going To Happen In 20163 Minimizing burn rate is the mantra for 2016 as thought leaders predict cooling markets ” Markdown mania will hit the venture capital sector as VC firms follow Fidelity’s lead and start aggresively taking down the valuations in their portfolios.” ” I suspect 2016 will be the year that the more heated private tech markets cool. ” – Mark Suster, partner at Upfront Ventures Oct 15, 2015 14
- 15. – Cyril Ebersweiler, founder of HAX Nov 22, 2015 – Matt Turck, managing director at FirstMark Capital March 28, 2016 Internet of Things: Are We There Yet?4 and Firstmark Capital5 ”Venture capital dollars in the space have continued to increase: $1.8 billion in 2013, $2.59 billion in 2014 and $3.44 billion in 2015” The State Of Hardware For 2015 | TechCrunch6 Funding to IoT Startups Has More Than Doubled In Six Years7 HAX Hardware Accelerator8 ”Investment in IOT startups is likely to hit a record height” But despite overarching trends, hardware is still the fastest growing sector in the industry 15
- 16. – Chris Quintero, associate at Bolt Sept 12, 2015 – Matt Witheiler, general partner at Flybridge Capital Partners May 3, 2015 Who Invests In Hardware Startups? | TechCrunch9 Bolt 10 The State Of Hardware Crowdfunding In Q11 Flybridge Capital Partners11 ”Since 2010, venture capital investment in hardware startups is up more than 30x.” ”A total of 128 hardware companies pre-sold nearly $70 million in products in Q1… a record quarter for hardware crowdfunding”
- 17. PEOPLE 17
- 18. 82% of companies outsource in some capacity 25% 75% MECHANICAL ENGINEERING OUTSOURCE IN HOUSE 30% 70% ELECTRICAL ENGINEERING OUTSOURCE IN HOUSE 28% 72% SOFTWARE ENGINEERING OUTSOURCE IN HOUSE 35% 65% MARKETING OUTSOURCE IN HOUSE 32% 68% FIRMWARE ENGINEERING OUTSOURCE IN HOUSE 42% 58% SOURCING OUTSOURCE IN HOUSE 45% 55% INDUSTRIAL DESIGN OUTSOURCE IN HOUSE 18
- 19. Gender diversity in teams is a challenge to confront 0% 4% 18% 46% 32% ALL WOMEN MOSTLY WOMEN CLOSE TO 50/50 MOSTLY MALE ALL MALE A report by the Congressional Joint Economic Committee12 of engineers in the work force nationwide are women. 14%
- 20. DEMOGRAPHICS 20
- 21. 213 respondents 47% 24% ROLES Founders/ CEOs Mechanical Engineers Industrial Engineers Electrical Engineers Marketing/ Business 53% 23% 19% Survey participants could select more than one answer. 21
- 22. ETHNICITY White or Caucasian 67% 19% 7% Asian/Pacific Islander Hispanic or Latino 4% Black or African American 3% Other 22
- 23. of survey takers were male 89% GENDER 23
- 24. DEMOGRAPHICS YEARS IN OPERATION EMPLOYEE COUNT EDUCATION BA 44%1-3 32% 31%4-10 11%11-20 11%21-50 7%51-100 8%100+ < 1 yr 14% 16%10+ years 8%7-10 years 15%4-6 years 47%1-3 years AGE < 21 32% 1% 13% 20% 14% 13% 7%50+ 41-50 36-40 31-35 26-30 21-25 1% Trade/Technical/ Vocational Training Associate Degree 1%High School 5% Some College 5%Professional 9%PhD 35%MA
- 25. WHO IS FICTIV? Fictiv is a hardware development platform for engineers and designers. We offer a simple online tool that allows users to fabricate parts faster than ever before using distributed manufacturing. Leveraging a network of curated vendors, our algorithm intelligently routes parts to immediately available machines for faster production (24 hour turnaround on 3D printed parts, for example). This allows our customers to prototype more efficiently and focus their time and efforts on innovation. facebook.com/fictivmade @fictiv