Architecture Software Market Growth to Hit 16.2% CAGR, Globally, by 2028 – Exclusive Report by The Insight Partners
The global architecture software market share worth $10.20 billion by 2028, at a growing CAGR of 16.2% from 2021 to 2028.
Pune, India., Nov. 01, 2023 (GLOBE NEWSWIRE) — According to a new report on “Architecture Software Market Size and Forecast (2021–2028), Global and Regional Share, Trends, and Growth Opportunity Analysis – by Software Type (Basic, Advance, and Pro), End User (Enterprises, Institutions, and Others), and Geography” the market in terms of revenue was estimated to be worth $3.57 billion in 2021 and is poised to reach $10.20 billion by 2028, growing at a CAGR of 16.2% from 2021 to 2028.
The growth of the architecture software market is driven by increase in number of infrastructure projects and rising demand of drawing and modelling solutions in project management. However, technological advancements in architecture software is emerging as a future trend in the industry.
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Global Architecture Software Market Scope:
|Market Size Value in||USD 3.57 Billion in 2021|
|Market Size Value by||USD 10.20 Billion by 2028|
|Growth rate||CAGR of 16.2% from 2021 to 2028|
|Segments covered||Software Type, End User, and Geography.|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America.|
|Country scope||Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States|
|Report coverage||Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends|
Rising Demand for Drawing and Modelling Solutions in Project Management Fuels Global Architecture Software Market Growth:
Architects can test their ideas swiftly and maintain a good project workflow using architectural software products. These software solutions are changing the modern architecture discipline with faster design creation and greater accessibility. These products have also been proven beneficial in genres such as engineering and game designing, wherein they aid in the production and management of projects on time. The deployment of architecture software enables greater collaboration and communication among project designers and software developers. This software also helps in drawing diagrams in a variety of viewpoints, including front, rear, isometric, and side, which has simplified the conversion of a 3D design into a technical drawing that can be used in production. Further, it has become feasible to deliver better presentations to clients using architectural software, as it helps deliver a clear picture of the project progress and result. The installation of architectural software makes data exchange a lot easier; thus, it enables improved documentation and communication, thereby bringing efficiency in project management and assisting in workflow management. Furthermore, these software solutions help make data accessing and storage more efficient. Architectural software offered by well-known software firms may support modifying drawings and models by deleting, adding, or making other changes. This software allows architects to create a miniature, 3D model of the entire building to offers a final look-alike structure that can give a general idea about the final product.
Digitalization has been around for a while, and it continues to influence a large number of professions. Professionals in the architecture industry may employ digital technologies to visualize, develop, and process their ideas faster than conventional methods. The conventional processes in this industry involve a high reliance of architects, contractors, interior designers, and real estate developers on a large number of other individuals. The output of architects does not reach its full potential due to lengthy and challenging procedures. Digitalization has altered this scenario, allowing architects to work more efficiently and effectively; it also allows them to work from their homes or other comfortable places. Furthermore, it has automated several tasks that architects no longer need to spend time on, which has accelerated the project planning and visualization phases. Architects can accomplish more in less time, increasing their productivity and potential. They not only learn and practice faster in this manner but also earn more professional experience that can be employed in future projects.
Global Architecture Software Market: Segmental Overview
On the basis of software type, the architecture software market is segmented into basic, advance, and pro. In 2020, the basic segment held the largest share of the market. Based on end user, the architecture software market is segmented into enterprises, institutions, and others. In 2020, the enterprises segment accounted for the largest share of the market. Based on geography, the architecture software market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, Europe accounted for a significant share of the market
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The architecture software market, based on geography, is primarily segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America accounts for a major revenue share in the market. The architecture software market in North America is segmented into the US, Canada, and Mexico. The market growth in this region is attributed to the surging awareness about the benefits of architecture software and increasing demand for sophisticated technologies—such as Internet of Things (IoT), data analytics, machine learning (ML), and virtual reality (VR)—in the architecture industry. The software is commonly used for the creation of 2D and 3D designs in various sectors. According to CBRE, the global commercial real estate services organization, real estate markets continuously focus on innovation. The number of new buildings in the industrial, commercial, and multifamily sectors in the world has climbed consistently in the last three years. High levels of development activity and strong market demand will attract the multifamily property market in the United States, necessitating an increase in architectural activities.
Global Architecture Software Market: Competitive Landscape
The key market players operating in the architecture software market that are profiled in the report include ActCAD LLC; Autodesk Inc; Bluebeam, Inc; Cadsoft; Chief Architect, Inc; Corel Corporation; Dassault Systèmes; progeSOFT; Trimble Inc; and Vectorworks, Inc. (Nemetschek Group). These companies operate their production and distribution centers in various regions, which helps them cater to a wider customer base.
- In 2022: The latest version of Corel’s affordable and beginner-friendly video editing solution offers new creative options such as face effects, animated AR stickers, and camera movements transitions, making it even easier to produce fun, cinema-grade films. VideoStudio Ultimate 2022 is packed with feature and filter to make every video one-of-a-kind; the solution enables customers to boost creativity and streamline their workflow.
- In April 2021: Autodesk acquired Innovyze, Inc., which made it a leading provider of digital solutions in water infrastructure. Together they can improvise on parameters such as design, construction, operation, and management.
Go through further research published by The Insight Partners:
Enterprise Architecture Software Market – Global Analysis and Forecast to 2030
Service-Oriented Architecture Market – Global Analysis and Forecast to 2030
Micro Service Architecture Market – Global Analysis and Forecast to 2030
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