The Architecture Software Market Size, Growth driven by the increasing architect knowledge and increasing demand for sophisticated architectural technologies across construction sectors, growing popularity of digitalization in architecture, the growing usage of modern technologies such as IoT, Data Analytics, Machine Learning, Virtual Reality has resulted in the widespread acceptance of architectural software across numerous businesses and sectors for the creation of 2D and 3D designs.
New York, March 24, 2022 /PRNewswire/ -- The Insight Partners published latest research study on Architecture Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Software Type (Basic, Advance, and Pro) and End User (Enterprises, Institutions, and Others)", the global architecture software market is projected to reach $10.20 billion by 2028 from $3.57 billion in 2021; it is expected to grow at a CAGR of 16.2% from 2021 to 2028.
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Report Coverage | Details |
Market Size Value in | US$ 3.57 billion in 2021 |
Market Size Value by | US$ 10.20 billion by 2028 |
Growth rate | CAGR of 16.2% from 2021 to 2028 |
Forecast Period | 2021- 2028 |
Base Year | 2021 |
No. of Pages | 168 |
No. Tables | 61 |
No. of Charts & Figures | 70 |
Historical data available | Yes |
Segments covered | Software Type and End User |
Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Architecture Software Market: Competitive Landscape and Key Developments
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.
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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.
Rising Demand for Drawing and Modelling Solutions in Project Management Fuels 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.
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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.
Impact of COVID-19 Pandemic on Architecture Software Market:
Rising disposable income, and the flourishing architecture & construction industry are among the key factors that contributed to the architectural software market growth before the onset of the COVID-19 pandemic. However, after the beginning of the pandemic in 2020, it adversely affected all major areas of the global economy, including the architectural and design industries. In addition to the displacement of laborers during the prolonged lockdown period, the limited supply of goods previously imported from China, and the consequent need to find alternatives in local markets resulted in the declined performances of these industries. Due to the impending economic catastrophe, all firms are revamping their strategies to prepare themselves for such unforeseen uncertainties in the future. However, with time and progress made by the healthcare sector, conditions began to improve in late 2021. As a result, people and businesses began adapting to new circumstances with the gradual reopening of enterprises and relaxation of social restrictions. Additionally, in 2021 and 2022, the resumption of construction and architecture activities in the world boosted the architecture software market growth.
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Architecture Software Market: Segment 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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