Global Architecture, Engineering, Consultants and Related Services Market to Reach USD 19.82 Billion by 2032 with a CAGR of 9.14% - Driven by Urbanization and Increasing Adoption of Building Information Modeling

The global Architecture, Engineering, and Construction (AEC) software market, estimated at USD 9.02 billion in 2023, is projected to reach a significant value of USD 19.82 billion by 2032. This marks a robust CAGR of 9.14% during the forecast period 2024 - 2032, according to the latest publication from Dataintelo. The projected market growth is largely driven by increasing urbanization globally and the escalating adoption of the Building Information Modeling (BIM).

BIM, a revolutionary approach in the field of construction design and management, is becoming a crucial factor propelling the AEC software market. Offering a unified view of the project, BIM enhances collaboration among architects, engineers, and construction professionals. It is reshaping the workflows within the industry and amplifying the demand for AEC software capable of supporting these intricate frameworks.

Significant progress in urban development across the globe is also a key contributor to the growth of the AEC software market. As urbanization accelerates, the need for efficient planning, designing, and managing of building projects is becoming paramount. AEC software is increasingly employed by architecture and design firms, construction companies, engineers, and others involved in the creation and maintenance of the urban landscape.

Similarly, rapid advancements in technology, coupled with increasing investments towards infrastructure development projects in both established and emerging economies, bolster the AEC software market's trajectory.

This published report from Dataintelo offers a holistic view of market trends, opportunities, and challenges faced by the key players in the AEC software domain. The comprehensive analysis gives insight into the past, present, and probable future trends within this evolving market

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐟𝐫𝐞𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 @ https://dataintelo.com/request-sample/225940

𝐓𝐡𝐢𝐬 𝐢𝐬 𝐨𝐧𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐨𝐬𝐭 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐧𝐝 𝐜𝐨𝐯𝐞𝐫 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐬:

The 𝐚𝐫𝐜𝐡𝐢𝐭𝐞𝐜𝐭𝐮𝐫𝐞, 𝐞𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐢𝐧𝐠, 𝐚𝐧𝐝 𝐜𝐨𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧 (𝐀𝐄𝐂) 𝐬𝐨𝐟𝐭𝐰𝐚𝐫𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 has been segmented on the basis of𝐓𝐲𝐩𝐞
● On-premise
● Cloud-based

𝐏𝐫𝐨𝐣𝐞𝐜𝐭 𝐋𝐢𝐟𝐞 𝐂𝐲𝐜𝐥𝐞
● Preconstruction
● Construction
● Operations

𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧
● Industrial
● Civil Infrastructure
● Oil & Gas Utilities
● Others

𝐄𝐧𝐝-𝐮𝐬𝐞𝐫
● Professionals
● Consultants
● Facility Managers
● Others

𝐑𝐞𝐠𝐢𝐨𝐧
● Asia Pacific
● North America
● Latin America
● Europe
● Middle East & Africa

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
● Altair Engineering Inc.
● Anasys Inc.
● Asite Solutions Ltd.
● 𝐀𝐮𝐭𝐨𝐝𝐞𝐬𝐤 𝐈𝐧𝐜.
● AVEVA Group plc
● Bentley Systems Incorporated
● Bluebeam Inc.
● Buildertrend
● Computers and Structures Inc.
● 𝐃𝐚𝐬𝐬𝐚𝐮𝐥𝐭 𝐒𝐲𝐬𝐭&𝐞𝐠𝐫𝐚𝐯𝐞;𝐦𝐞𝐬
● Hexagon AB
● Nemetschek Group
● Newforma
● Oracle Corporation
● Procore Technologies
● RIB Software SE
● SoftTech Engineers Limited
● Trimble Inc.

Segment Analysis:

In the architecture, engineering, and construction (AEC) software market, the division is mainly based on type, project life cycle, application, end-user, and the key players in the market. Under type, the market is divided into on-premise and cloud-based solutions. The increasing movement towards digitalization has led to a surge in demand for cloud-based solutions due to the flexibility, affordability, and ease of access they offer. In terms of the project life cycle, the software's application is segmented into preconstruction, construction, and operations. The preconstruction stage often requires robust software solutions for tasks such as feasibility studies, budget formulation, and preliminary design drafting.

Applications of AEC software extend over industrial, civil infrastructure, oil & gas utilities, among others. Industrial application includes factory and warehouse structures, cybersecurity structures, etc. Civil infrastructure involves the use of AEC software in drafting, designing and managing infrastructure projects like roads, bridges, and channels. The software is also used greatly in the oil & gas sector for designing, simulating, and managing operations. End-users of this market include professionals, consultants, and facility managers, all of who require the AEC software for their specific needs.

Regional Analysis:

In the regional analysis of the AEC software market, Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa have been the main regions of focus. The North American region, with its advanced technology infrastructure and adoption of innovative solutions, holds a significant share in the market. Meanwhile, the Asia Pacific region is witnessing rapid growth due to increasing investments in infrastructural developments and the digitalization of operations in countries like China, India, and Japan.

Europe is another dominant player in the AEC software market due to its established construction industry and the region's move towards smart cities which requires substantial use of AEC software. Latin America, and the Middle East & Africa, though they constitute smaller shares of the market, are presenting promising growth potential. The thriving construction sector in these regions and increasing investments into technology advancements are projected to drive the market growth for AEC software. Key players involved in this market include Altair Engineering Inc., Autodesk Inc., Bentley Systems Incorporated, Oracle Corporation, Procore Technologies, etc. all of whom play crucial roles in shaping market dynamics globally

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐟𝐫𝐞𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 @ https://dataintelo.com/request-sample/225940

Market Drivers for Architecture, Engineering Consultants and Other Related Services:

1. Rapid Urbanization: The growth in urban populations and the need for improved infrastructure is a significant market driver.

2. Technological Advancements: The emergence and adoption of new technologies such as building information modeling (BIM), drone technology, 3D printing, augmented reality, and virtual reality are driving the growth of the market.

3. Government Initiatives: Government initiatives and regulations promoting sustainable building practices and infrastructure development are also driving the market.

4. Rising Demand for Green Buildings: As individuals and corporations become more environmentally conscious, the demand for green building and sustainable designs is growing.

5. Increase in Infrastructure Projects: The rise in infrastructure projects, including transport, public utilities, commercial buildings, and housing projects, especially in emerging economies, is significantly driving market growth.

Opportunities for Architecture, Engineering Consultants and Other Related Services:

1. Advancements in Technology: Advancements in AI, IoT, and cloud computing can offer potential growth opportunities for streamlined and efficient design and engineering processes.

2. Sustainability Focus: There is a growing demand for sustainable and energy-efficient designs. Firms offering these services can tap into this emerging trend.

3. Smart Cities Initiatives: Many countries are focusing on developing smart cities, which involve the incorporation of advanced technologies in urban infrastructure development. This presents vast opportunities for architecture and engineering consultants.

4. Developing Economies: There's a surge in infrastructural development activities in developing economies. Companies can exploit these opportunities by offering their specialist services in these markets.

5. Collaborative Undertakings: Forming strategic alliances and collaborations with real estate developers, government bodies, and construction firms can open new avenues of opportunity

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