DUBLIN, December 13, 2021– (BUSINESS WIRE) – The “Construction and Design Software Market Size, Share and Trend Analysis Report by Function (Cost Accounting, Project Management and Planning), By Deployment, By end-use, by region and segment forecast, 2021 – The 2028 report “has been added to ResearchAndMarkets.com offer.
The global construction and design software market size is expected to reach USD 18.18 billion by 2028, with a CAGR of 7.7% from 2021 to 2028.
Growing demand for efficient tool management in construction industry is triggering adoption of construction and design software and hence acts as a driving factor for market growth.
The development of digital capabilities such as IoT, geographic information systems (GIS), building information modeling (BIM), and recent improvements in drones and unmanned aerial vehicle (UAV) technology can improve accuracy and speed in companies in the construction industry.
The aforementioned factors are considered to be the main drivers that can create the need for the adoption of construction and design software in all businesses. Since construction and design software requires high capital investment, it is difficult for SMEs to afford their business lines which is expected to hold back the growth of the market.
One of the major factors driving the growth of the market is the growing preference for better interior design and decoration among customers and end-use industries. Growing government initiatives to promote construction and real estate globally and the growing need for higher productivity are expected to further fuel demand over the forecast period.
The increased investment in advanced technologies stimulates competition among market players, thus leading to the development of new design software, such as DataCAD, AutoCAD, SketchUp and Revit, with improved technology and capabilities.
The global construction and design software market is also fueled by growth factors such as the increasing adoption of cloud-deployed construction software, the growing demand for increased precision and efficiency in the construction industry and the continuing number of mergers and acquisitions in the construction and IT sector. .
In addition, the integration of BIM into sustainable architecture and increased investment in the construction sector are major opportunities for market players operating in the market.
Highlights of the Construction and Design Software Market Report
In terms of function, the project management and planning segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period. The growth of the segment can be attributed to the increased projection of labor and increased demand from disciplines such as product and project management on a global scale.
In terms of deployment, the cloud segment is expected to grow at the highest CAGR of 9.3% during the forecast period. Cloud-based solutions allow businesses to access data on connected devices anytime, increasing possibilities for personalization and enabling implementation of analytics tools across multiple business channels.
In terms of end use, the Architects and Builders segment is expected to grow at a promising CAGR from 2021 to 2028. This growth can be attributed to the growing demand for design skills to maximize the potential of the project and the growing concern for necessary consents such as approvals of listed buildings, planning and building regulations. Additionally, architects and builders deliver designs to fit client budgets, help keep costs down by providing comprehensive construction information, and ensure projects are delivered on time.
In terms of region, Asia-Pacific is expected to become the fastest growing regional market due to the rapid growth of economies vis-à-vis infrastructure and industrial projects. Most Asian countries such as China, Japan, India and Singapore require a substantial amount of spending on infrastructure development, which is expected to accelerate the demand for construction and design software across the Asia-Pacific region. .
Main topics covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Construction and Design Software Industry Outlook
3.1 Market Segmentation and Scope
3.2 Market size and growth outlook
3.3 Construction and Design Software Market – Value Chain Analysis
3.4 Construction and Design Software Market Dynamics
3.4.1 Market Driver Analysis
3.4.2 Analysis of market challenges
3.5 Mapping of penetration and growth prospects
3.6 Market analysis tools
3.6.1 Construction and Design Software Industry Analysis – Porter’s Five Forces Analysis
3.6.2 Construction and Design Software Industry Analysis – PEST Analysis
3.7 Construction and Design Software Market – COVID-19 Impact Analysis
Chapter 4 Construction and Design Software Function Outlook
4.1 Construction and Design Software Market Share by Function, 2020 and 2028
4.2 Security and reporting
4.3 Project management and planning
4.4 Project design
4.5 Field service management
4.6 Cost accounting
4.7 Construction estimate
4.8 On the whole of auction management
Chapter 5 Construction and Design Software Deployment Prospects
5.1 Construction and Design Software Market Share by Deployment, 2020 and 2028
5.3 On site
Chapter 6 Outlook for Construction and Design Software End-Use
6.1 Construction and Design Software Market Share by End Use, 2020 and 2028
6.2 Architects and builders
Chapter 7 Regional Outlook for Construction and Design Software
7.1 Construction and Design Software Market Share by Regions, 2020 and 2028
Chapter 8 Competitive Analysis
8.1 Global Major Players, Recent Developments and Their Impact on the Industry
8.2 Categorization of companies
8.3 Supplier landscape
8.3.1 Construction and Design Software Market: Key Company Rank / Market Share Analysis, 2020
Chapter 9 Competitive Landscape
For more information on this report visit https://www.researchandmarkets.com/r/nba88p
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211213005888/en/
Laura Wood, Senior Press Director
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