Ahead of IPO, Data Shows Figma Operates in a Category of One

With its main rival discontinued and emerging competitors showing near-zero traction, job market and search trend data reveal Figma’s absolute monopoly—a key factor justifying its massive valuation.

As Figma prepares for its highly anticipated IPO, the central question for any investor, journalist, or industry analyst is simple: is the valuation justified? While financial models provide one answer, the story on the ground - in the job markets and among design professionals—provides a far more definitive one.

Figma is no longer just winning the market; it has become the market.

At Tenscope, we wanted to quantify what this dominance looks like. 

We analyzed over 5,000 recent US job postings for design roles and uncovered a stark reality: 62% of all open positions for UI, UX, and Product Designers now list Figma as a required skill. It has achieved a level of workforce integration that makes it the default professional standard.

This dominance becomes even clearer when you look at the competitive landscape: there isn't one. Figma's primary rival, Adobe XD, has been officially discontinued and placed on maintenance mode. The battle is over.

A Picture of Total Monopoly

If the job data tells us Figma is the present, Google Trends data tells us it's also the future. When compared against emerging competitors like UXPin and Penpot, Figma’s search interest is so immense that the others barely register. This isn't a race with a clear leader; it's a coronation.

The visual data shows that Figma exists in a category of one, with no significant challengers on the horizon to threaten its reign. This is the kind of impenetrable "moat" that investors dream of.

Why It's More Than a Monopoly - It's the Standard

This level of market capture is rare, and it didn't happen by accident. Figma fundamentally changed how products are built.

"The conversation in our industry is no longer about which tool to use. The battle is over, and Figma won," states Jovan Babovic, the Creative Director at Tenscope. "Its triumph wasn't just about features; it was about creating a collaborative, browser-based ecosystem that became the central hub for product teams. Designers, developers, and stakeholders can all work simultaneously within a single source of truth. The efficiency gains are massive."

This shift has created a powerful network effect. The vast Figma Community, with its thousands of plugins and templates, creates high switching costs and deepens user loyalty. The platform's success now fuels itself.

What This Means for the Figma IPO

For design professionals, Figma proficiency has moved from a "nice-to-have" to a non-negotiable career requirement. For companies, it is the foundational platform for attracting top talent and building digital products efficiently.

As Figma enters the public market, its valuation isn't based on projected growth against competitors. It's based on its reality as an essential piece of infrastructure for the entire digital economy - an uncontested king preparing for its public debut.

Methodology

The job market data was collected on July 29, 2025, by analyzing 5,057 active, US-based job listings on LinkedIn for the titles "UI Designer," "UX Designer," and "Product Designer." Google Trends data reflects worldwide search interest for the "Figma" topic and the software "UXPin" and "Penpot" from July 2020 to July 2025.

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