Press release
AEC Market Size, Industry Overview, Growth (10.18%), Forecast 2023-2028
AEC Industry Overview 2023
The global architectural, engineering, and construction (AEC) market size reached US$ 8.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 15.7 Billion by 2028, exhibiting a growth rate (CAGR) of 10.18% during 2023-2028.
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What are Architectural, Engineering, and Construction (AEC):
Architecture, engineering, and construction (AEC) software provides a comprehensive range of services and orchestrates the entire lifecycle of a product, from initial presentation to the concluding production phase. This software employs intelligent algorithmic search and grouping to facilitate the modification of diverse components, thereby boosting efficiency and economizing time. Consequently, AEC contributes to the reduction of overhead expenses and labor outlays, leading to quicker project completions and fostering an understanding of cutting-edge technologies. This technology is harnessed for tasks encompassing visualization, design, drafting, and documentation throughout the project's evolution. The realm of architecture, engineering, and construction software finds notable utility in domains such as electrical work, plumbing, and building information modeling. Its applications span a wide spectrum, serving interior designers, construction enterprises, real estate firms, surveyors, as well as mechanical and electrical piping engineers, among others.
What are the growth prospects and trends in the Architectural, Engineering, and Construction (AEC) industry?
The escalating demand for cost-effective and personalized design solutions, on account of the inflating levels of urbanization, is primarily driving the architecture, engineering, and construction (AEC) market. Additionally, the expanding residential, commercial, and construction sectors and the inflating need for creating high-performing building and infrastructure designs with conceptual and detailed design tools are further bolstering the market growth. Besides this, the widespread adoption of architecture, engineering, and construction by professionals and architects to prepare a layout and utilize a three-dimensional (3D) model-based approach is acting as another significant growth-inducing factor. Moreover, the growing utilization of cloud-based AEC among both large and mid-sized enterprises, as it does not involve capital cost and has low maintenance requirements, is also positively influencing the global market. Apart from this, the rising integration of Artificial Intelligence (AI), Virtual Reality (VR), and the Internet of Things (IoT) technologies that are accurate and easy to understand is anticipated to fuel the architecture, engineering, and construction (AEC) market over the forecasted period.
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Who are the key players operating in the industry?
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
• 4M Group
• ACCA software S.p.A.
• Ansys Inc.
• Autodesk Inc.
• AVEVA Group Plc
• Bentley Systems Incorporated
• Construsoft B.V.
• CYPE Ingenieros S.A.
• Esri India Technologies Private Limited
• Hexagon AB
• Nemetschek SE
• Procore Technologies Inc.
What is included in market segmentation?
Product Insights
• Software
• Services
Deployment Mode Insights
• On-premises
• Cloud-based
Enterprise Size Insights
• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises
End User Insights
• Construction and Architecture Companies
• Education
• Others
E𝐱𝐩𝐥𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐓𝐚𝐛𝐥𝐞 𝐨𝐟 𝐂𝐨𝐧𝐭𝐞𝐧𝐭𝐬: https://www.imarcgroup.com/architectural-engineering-construction-market
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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Contact US
IMARC Group
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Email: sales@imarcgroup.com
Follow us on Twitter: @imarcglobal
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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