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According to a new report Global Construction and Design Software Market, published by KBV research, The Global Construction and Design Software Market size is expected to reach $15.5 billion by 2027, rising at a market growth of 6.5% CAGR during the forecast period.
The field service management segment acquired a promising growth rate in 2020. Factors such as the increase in requirement for mobility with predictive analytics & IoT and the massive adoption rate of cloud-based applications are responsible for the growth of this segment. Using field service management, companies can automate dispatching and scheduling that assists in simplifying every process related to field operations.
The architects and builders segment garnered the maximum revenue share of the construction and design software market in 2020. The adoption of new policies in the working regulations of the construction industry has been increased due to the increase in focus towards business intelligence and CAD software by engineers, builders, and architecture.
APAC is one of the major regions in the construction and design software market. Factors such as the supportive development rate of the regional countries and the massive growth of the construction industry are likely to boost the growth of the regional market. Moreover, the surge in the construction activities in regional countries like India, China, Japan, and Southeast Asian nations is expected to boost the growth & demand for construction and design software in the regional market. The advent of modern technologies, regulatory policies, and supportive government regulations are expected to unlock growth prospects for the regional market.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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