The Asia Pacific Construction and Design Software Market would witness market growth of 8.2% CAGR during the forecast period (2021-2027).
The growth of the market is expected to boost due to the surge in demand for efficient tool management in the construction sector, thereby boosting the adoption of construction and design software. The development of digital features like IoT, Building Information Modeling (BIM), Geographic Information Systems (GIS), and recent developments in drones and Unmanned-Aerial-Vehicle (UAV) technology can enhance accuracy and speed across enterprises in the construction sector. These factors would boost the requirement to adopt construction and design software across enterprises. As construction and design software needs huge capital investments, due to which SMEs find it difficult to afford such advanced software, thereby hampering the growth of the construction and design software market.
Due to the surge in construction projects in India and China, the APAC region is likely to witness high demand for construction and design software. Moreover, many governmental initiatives like ‘Make in India’, ‘Smart Cities’, ‘Atal Mission for Urban Rejuvenation and Transformation’ (AMRUT), and ‘Housing for All’ would create lucrative growth opportunities for the players operating in the regional construction and design software market during the forecasting period.
The presence of a low-cost workforce in countries like India is expected to increase construction activities, hence boosting the demand & growth of construction and design software in the regional market. Construction organizations are increasingly deploying modern technologies like virtual reality (VR), augmented reality (AR), and wearables with an aim to enhance construction site safety. This would further increase the number of construction activities in the region. All these factors are collectively responsible for the growth of the regional market.
The China market dominated the Asia Pacific Architects & Builders Construction and Design Software Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $416.1 million by 2027. The Japan market is exhibiting a CAGR of 6.2% during (2021 - 2027). Additionally, The India market is anticipated to witness a CAGR of 7.4% during (2021 - 2027).
Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Function, the market is segmented into Project Management & Scheduling, Construction Estimation, Safety & Reporting, Project Design, Field Service Management, On across Bid Management, Cost Accounting and Others. Based on End User, the market is segmented into Architects & Builders, Remodelers, Designers, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Construction and Design Software Market is Projected to reach USD 15.5 Billion by 2027, at a CAGR of 6.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Constellation Software Inc., Vectorworks, Inc., Oracle Corporation, Microsoft Corporation, Autodesk, Inc., Trimble, Inc., Bentley Systems, Inc., SAP SE, RIB Software SE, and Sage Group plc.
By Deployment Type
By Function
By End User
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