Dublin, April 26, 2024 (GLOBE NEWSWIRE) -- The "AEC Software Global Market Opportunities and Strategies to 2033" report has been added to ResearchAndMarkets.com's offering.
The global AEC software market reached a value of nearly $9.06 billion in 2023, having grown at a compound annual growth rate (CAGR) of 5.9% since 2018. The market is expected to grow from $9.06 billion in 2023 to $13.65 billion in 2028 at a rate of 8.5%. The market is then expected to grow at a CAGR of 10.8% from 2028 and reach $22.85 billion in 2033.
North America was the largest region in the AEC software market, accounting for 42.6% or $3.86 billion of the total in 2023. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the AEC software market will be Asia-Pacific and South America where growth will be at CAGRs of 10% and 9.1% respectively. These will be followed by North America and Western Europe where the markets are expected to grow at CAGRs of 8.6% and 7.8% respectively.
The global AEC software market is highly concentrated, with large players operating in the market. The top ten competitors in the market made up to 83.9% of the total market in 2022. Autodesk Inc was the largest competitor with 26.9% share of the market, followed by Trimble, Inc with 13.2%, Bentley Systems with 9.7%, Procore Technologies Inc. with 8.5%, Nemetschek Group with 8.1%, Dassault Systems with 5.8%, Esri with 5%, Hexagon AB with 3.3%, Ansys Inc with 2%, and Buildertrend Solutions, Inc with 1.5%.
The AEC software market is segmented by type into designing software, planning software and building software. The designing software market was the largest segment of the AEC software market segmented by type, accounting for 47% or $4.26 billion of the total in 2023. Going forward, the designing software segment is expected to be the fastest growing segment in the AEC software market segmented by type, at a CAGR of 9.2% during 2023-2028.
The AEC software market is segmented by component into software and services. The software market was the largest segment of the AEC software market segmented by component, accounting for 78% or $7.07 billion of the total in 2023. Going forward, the services segment is expected to be the fastest growing segment in the AEC software market segmented by component, at a CAGR of 9.4% during 2023-2028.
The AEC software market is segmented by project life cycle into preconstruction, construction and operations. The preconstruction market was the largest segment of the AEC software market segmented by project life cycle, accounting for 44.9% or $4.06 billion of the total in 2023. Going forward, the construction segment is expected to be the fastest growing segment in the AEC software market segmented by project life cycle, at a CAGR of 8.6% during 2023-2028.
The AEC software market is segmented by end-user into AEC professionals, consultants and facility managers, and other end-users. The AEC professional market was the largest segment of the AEC software market segmented by end-user, accounting for 51.2% or $4.64 billion of the total in 2023. Going forward, the consultants and facility managers segment is expected to be the fastest growing segment in the AEC software market segmented by end-user, at a CAGR of 8.6% during 2023-2028.
The AEC software market is segmented by deployment mode into on-premise software and cloud-based software. The on-premise market was the largest segment of the AEC software market segmented by deployment mode, accounting for 66.6% or $6.04 billion of the total in 2023. Going forward, the cloud-based software segment is expected to be the fastest growing segment in the AEC software market segmented by deployment mode, at a CAGR of 10.4% during 2023-2028.
The AEC software market is segmented by application into building, industrial, civil infrastructure, oil and gas, utilities and other applications. The building market was the largest segment of the AEC software market segmented by application, accounting for 47% or $4.25 billion of the total in 2023. Going forward, the building segment is expected to be the fastest growing segment in the AEC software market segmented by application, at a CAGR of 8.7% during 2023-2028.
Opportunities
- The top opportunities in the AEC software market segmented by type will arise in the designing software segment, which will gain $2.34 billion of global annual sales by 2028.
- The top opportunities in the AEC software market segmented by component will arise in the software segment, which will gain $3.45 billion of global annual sales by 2028. The top opportunities in the AEC software market segmented by project lifecycle will arise in the preconstruction segment, which will gain $2.04 billion of global annual sales by 2028.
- The top opportunities in the AEC software market segmented by deployment mode will arise in the on-premise software segment, which will gain $2.64 billion of global annual sales by 2028. The top opportunities in the AEC software market segmented by application will arise in the building segment, which will gain $2.21 billion of global annual sales by 2028.
- The top opportunities in the AEC software market segmented by end-user will arise in the AEC professional segment, which will gain $2.32 billion of global annual sales by 2028. The AEC software market size will gain the most in the USA at $1.48 billion.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 400 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $9.1 Billion |
| Forecasted Market Value (USD) by 2033 | $22.9 Billion |
| Compound Annual Growth Rate | 9.7% |
| Regions Covered | Global |
Major Market Trends
- Use of Artificial Intelligence (AI) to Create Virtual Models of Project Visualization
- Introduction of Cloud Based Software to Connect Office and Field in Real Time
- Use of Blockchain Technology to Improve Efficiency and Data Security
- Focus on Sustainability and Green Design to Reduce the Carbon Footprint
- Product Innovations With Focus on Integrated Solutions
- Increasing Investments to Expand and Build New Products and Technologies
- Strategic Partnerships and Acquisitions to Drive Innovation in the Market
A selection of companies mentioned in this report includes, but is not limited to:
- Autodesk
- Trimble, Inc
- Bentley Systems
- Procore Technologies Inc
- Nemetschek Group
- Dassault Systems
- Esri
- Hexagon AB
- Ansys Inc
- Buildertrend Solutions, Inc
- Tekla India Pvt. Ltd
- Dassault Systemes India Pvt. Ltd
- CADD Centre India Pvt. Ltd
- RIB Software India Pvt. Ltd
- Glodon Co., Ltd
- ChinaSoft International (CSII)
- ZWSOFT Co., Ltd
- Beijing Asite Technology Co. Ltd
- Suzhou Gstarsoft Co., Ltd
- Graitec
- Allplan
- Graphisoft
- Newforma
- Elecosoft
- Causeway
- Bluebeam
- PlanGridAclara Technologies LLC
- Eagle Point Software
- Microsol Resources
- ProEst
- Neodata Group
- CYPE Ingenieros
- BIM6D
- SAP Canada
- Procore Technologies
- Buildin
- Camargo Correa
- Visto Sistemas
- Proj4me
- AECweb
- BuildSoft
- ProTenders
- Dalux
- Construction Computer Software (CCS)
- Yardi
- STC Solutions
- Diyar United Company
- Synchro Modena AEC and Infrastructure
- TechSoup South Africa
- Candy (Construction and Estimating Software)
- BuildSmart
- Buildcon Global Services
- I-Tech Solutions
For more information about this report visit https://www.researchandmarkets.com/r/p8laly
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