The growth of the architectural software market reaches 16.2% compound annual growth rate

The growth of the architectural software market reaches 16.2% compound annual growth rate

Pune, India, November 01, 2023 (GLOBE NEWSWIRE) — According to a new report on “Architectural software market Size and Forecast (2021-2028), Global and Regional Share, Trends, and Growth Opportunity Analysis – by Software Type (Basic, Advanced, Professional), End User (Enterprises, Institutions, etc.), and Geography. The market in terms of revenue, was valued at $3.57 billion in 2021 and is expected to reach $10.20 billion by 2028, with a compound annual growth rate of 16.2% from 2021 to 2028.

The growth of the architecture software market is due to the increase in the number of infrastructure projects and the increasing demand for drawing and modeling solutions in project management. However, technological advancement in architecture software is emerging as a future trend in the industry.

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Global Architecture Software Market Scope:

Report coverage details
Market size value in 3.57 billion US dollars in 2021
According to market value 10.20 billion US dollars by 2028
growth rate CAGR of 16.2% from 2021 to 2028
Forecast period 2021-2028
Base year 2021
Covered sectors 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 forecasts, company analysis, industry landscape, growth factors, and trends

Growing demand for drawing and modeling solutions in project management fuels growth of global architecture software market:

Architects can quickly test their ideas and maintain good project workflow with architectural software products. These software solutions are changing the modern architecture ecosystem by creating faster design and greater accessibility. These products have also proven useful in fields such as engineering and game design, where they help in producing and managing projects on time. Deploying architecture software allows for greater collaboration and communication between project designers and software developers. This software also helps draw diagrams in a variety of views, including front, back, isometric, and lateral, which has simplified the conversion of a 3D design into a technical drawing that can be used in production. Moreover, it has become possible to make better presentations to clients using architectural software, as it helps in presenting a clear picture of the project progress and outcome. Installing architectural software makes exchanging data much easier; Hence, it enables improved documentation and communication, thus bringing efficiency in project management and helping in workflow management. Moreover, these software solutions help make data access and storage more efficient. Architectural software provided by well-known software companies may support modification of drawings and models by deleting, adding or making other changes. This software allows architects to create a 3D scale model of the entire building to present a similar final structure that can give a general idea of ​​the final product.

Digitization has been around for a while, and it continues to impact a large number of professions. Professionals in the architecture industry may use digital technologies to visualize, develop and process their ideas faster than traditional methods. Traditional operations in this industry involve relying heavily on architects, contractors, interior designers and real estate developers over a large number of other individuals. The production of architects does not reach its full potential due to long and difficult procedures. Digitization has changed this scenario, allowing architects to work more efficiently and effectively; They are also allowed to work from their homes or other comfortable places. Moreover, it has automated many tasks that architects no longer need to spend time on, speeding up the project planning and visualization stages. Architects can accomplish more in less time, increasing their productivity and potential. Not only do they learn and practice faster this way, but they also gain more professional experience that can be employed in future projects.

Global Architecture Software Market: Segment Overview

Based on the software type, the architecture software market is segmented into basic, advanced, and professional. In 2020, the primary segment accounted for the largest share of the market. Based on the end user, the architecture software market is segmented into corporate, enterprise, and others. In 2020, the corporate sector 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), Middle East and 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 is based on geography, and is mainly divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America accounts for a significant share of revenue in the market. The North American architecture software market is segmented into the United States, Canada, and Mexico. The market growth in this region is attributed to growing awareness about the benefits of architecture software and increasing demand for cutting-edge 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 to create 2D and 3D designs in various sectors. According to CBRE, the global commercial real estate services organization, real estate markets are constantly focusing on innovation. The number of new buildings in the industrial, commercial and multifamily sectors in the world has risen continuously in the past three years. High levels of development activity and strong market demand will attract the multifamily real estate market in the United States, necessitating an increase in architectural activities.

Global Architecture Software Market: Competitive Landscape

The major market players operating in the Architectural Engineering Software market covered in the report are ActCAD LLC; Autodesk Corporation; Bluebeam Company; CadSoft. Chief Architect, Inc.; Corel Corporation; Dassault Systems; pogeSOFT; Trimble Company; and Vectorworks, Inc. (Nemetschek Group). These companies operate their own production and distribution centers in different regions, which helps them cater to a wider customer base.

Recent developments:

  • In 2022: The latest release of Corel’s affordable, entry-level video editing solution delivers new creative options like facial effects, animated AR stickers, and camera movement transitions, making it easier to produce fun, cinema-level movies. VideoStudio Ultimate 2022 is packed with features and filters to make every video unique; The solution enables customers to boost creativity and streamline their workflow.
  • In April 2021: Autodesk acquired Innovyze, Inc., making it a leading provider of digital solutions in the water infrastructure space. Together they can improvise on standards such as design, construction, operation and management.

Go to more research published by The Insight Partners:

Enterprise architecture software market – Global analysis and forecasts until 2030

Service-oriented architecture market – Global analysis and forecasts until 2030

Microservices architecture market – Global analysis and forecasts until 2030

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