With Impressive CAGR of 10.18%, AEC Market Size To Reach US$ 15.7 Billion by 2028 | Industry Future Growth

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.

What are Architectural, Engineering, and Construction (AEC):

Architecture, engineering, and construction (AEC) software offers a host of services and plans the lifecycle process of a product from presentation to the final stage of production. It helps in editing various elements by using smart algorithmic search and group to enhance productivity and save time. In line with this, AEC aids in minimizing overhead costs and labor expenses, thereby creating faster turn-around time on projects and gaining insights into the latest technologies. It is utilized in visualizing, designing, drafting, and documenting the stages of the project. Architecture, engineering, and construction software is extensively used for electrical and plumbing and building information modeling. It finds wide-ranging applications by interior designers, construction firms, real estate companies, surveyors, mechanical and electrical piping engineers, etc.

Request a Free PDF Sample for more detailed market insights: https://www.imarcgroup.com/architectural-engineering-construction-market/requestsample

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.

Ask An Analyst: https://www.imarcgroup.com/request?type=report&id=6647&flag=F

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

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.

Contact US

IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Email: sales@imarcgroup.com
Follow us on Twitter: @imarcglobal
LinkedIn: https://www.linkedin.com/company/imarc-group/mycompany/

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.

This release was published on openPR.