The global architectural, engineering, and construction (AEC) market size reached US$ 8.7 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 15.7 Billion by 2028, exhibiting a CAGR of 10.34% during 2022-2028.
Companies Mentioned
- 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
Significant growth in the construction industry, and an increasing demand to create high-quality, high-performing building and infrastructure designs represent some of the key factors driving the market.
Architecture, engineering, and construction (AEC) software provides a host of services and plans the lifecycle process of a product from presentation to the final stage of production. It is widely used in designing, visualizing, drafting, and documenting the stages of the project.
AEC is also used for building information modeling and electrical and plumbing. It helps to edit several elements using smart algorithmic search and group to enhance productivity and save time. It assists in reducing overhead costs and labor expenses, thus creating faster turn-around time on projects, and gaining insights into the latest technologies. As a result, AEC is extensively used by construction firms, real estate companies, interior designers, surveyors, and mechanical and electrical piping engineers.
One of the key factors driving the market growth is the significant expansion in the residential, commercial, and construction sectors across the globe. AEC Software is widely used by designers and construction planners to manage building projects more efficiently. In line with this, with rapid urbanization, there has been an increasing demand for cost-effective and personalized designing solutions, which, in turn, is favoring the market growth.
Moreover, the widespread adoption of AEC by professionals and architects to prepare a detailed layout and utilize a three-dimensional (3D) model-based approach for construction projects is acting as another growth-inducing factor. Along with this, the increasing demand to create high-quality, high-performing building and infrastructure designs with conceptual and detailed design tools is propelling the market growth.
Additionally, the implementation of various government initiatives to mandate the use of AEC software for the construction of public buildings is driving the market growth. Apart from this, the widespread adoption of cloud-based AEC among both large and mid-sized enterprises, as it does not involve capital cost as well as has low maintenance requirements, is providing an impetus to the market growth.
Furthermore, the integration of artificial intelligence (AI), virtual reality (VR), and the Internet of Things (IoT) technologies that assist in visualizing, designing, and offering realistic graphics that are accurate and easy to understand is facilitating the market growth. These technological advances help to enhance work efficiencies and save time, which is positively influencing the market growth.
Other factors, including the significant growth in smart cities and extensive research and development (R&D) activities, are anticipated to drive the market growth.
Key Questions Answered in This Report:
- How has the global architecture, engineering, and construction (AEC) market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global architecture, engineering, and construction (AEC) market?
- What are the key regional markets?
- Which countries represent the most attractive architecture, engineering, and construction (AEC) markets?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the deployment mode?
- What is the breakup of the market based on enterprise-size?
- What is the breakup of the market based on the end user?
- What is the competitive structure of the global architecture, engineering, and construction (AEC) market?
- Who are the key players/companies in the global architecture, engineering, and construction (AEC) market?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Architectural, Engineering, and Construction (AEC) Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product
6.1 Software
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Services
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Deployment Mode
7.1 On-premises
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Cloud-based
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Enterprise Size
8.1 Small and Medium-sized Enterprises (SMEs)
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Large Enterprises
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by End User
9.1 Construction and Architecture Companies
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Education
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Others
9.3.1 Market Trends
9.3.2 Market Forecast
10 Market Breakup by Region
11 Drivers, Restraints, and Opportunities
11.1 Overview
11.2 Drivers
11.3 Restraints
11.4 Opportunities
12 Value Chain Analysis
13 Porters Five Forces Analysis
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/qf462y
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