Surge in infrastructure projects, increase in productivity through interoperability, and several government initiatives regarding use of AEC software drive the growth of the global AEC market. Based on region, North America contributed to the highest share in terms of revenue in 2020, contributing to around two-fifths of the total market share.
According to the report published by Allied Market Research, the global AEC market generated $7.1 billion in 2020, and is projected to reach $15.8 billion by 2028, witnessing a CAGR of 10.7% from 2021 to 2028. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Rachita Rake, a Research Analyst, ICT at Allied Market Research, stated, “Region wise, Asia-Pacific is expected to exhibit highest growth during the forecast period, as adoption of AEC software is prominent in this region, owing to growing construction sector in this region. Surge in multi-story and skyscrapers buildings as well as ongoing developments in infrastructure in this region are expected to be the key factors facilitating growth of the AEC Market. In addition, governments of various Asian countries are implementing regulations to mandate adoption of architecture, engineering, and construction software for constructions. For instance, India, Japan, and South Korea have mandated use of architecture, engineering, and construction software for public buildings. For instance, in April 2019, Capgemini China signed an agreement with Autodesk Inc. to provide cloud-based AEC and BIM platform to customers in the region, which, in turn, drives the market growth. ”
- The outbreak of the Covid-19 pandemic has had a positive impact on the global AEC market.
- The pandemic encouraged companies to find smarter and safer ways of constructing highways, homes, and commercial places, which increased the demand for AEC software.
- Companies preferred to continue projects in a virtual and digital environment during the lockdown period, which in turn, boosted the growth of the AEC market.
The report offers detailed segmentation of the global AEC market based on component, deployment mode, enterprise size, application, and region.
Based on component, the software segment held the highest market share in 2020, accounting for around two-thirds of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the services segment is estimated to register the highest CAGR of 12.1% from 2021 to 2028.
Based on end user, the construction and architecture companies segment held the highest market share in 2020, accounting for more than two-thirds of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is estimated to register the highest CAGR of 10.5% from 2021 to 2028.
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Based on region, North America contributed to the highest share in terms of revenue in 2020, contributing to around two-fifths of the total market share, and is estimated to continue its dominant share by 2028. However, Asia-Pacific region is projected to manifest the fastest CAGR of 13.5% during the forecast period.
Major market players
- AUTODESK INC.
- BENTLEY SYSTEM INC.
- AVEVA GROUP PLC.
- TRIMBLE INC.
- DASSAULT SYSTEMES
- Hexagon AB
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.