According to a new report, published by KBV research, The Global MEP Software Market size is expected to reach $7.38 billion by 2031, rising at a market growth of 8.7% CAGR during the forecast period.
The Service segment captured a CAGR of 9.4% during (2024 - 2031). This segment includes a wide range of services, such as consulting, system integration, training, and technical support, all of which are essential for businesses to maximize the functionality and efficiency of their MEP software. Service providers help companies integrate software into their existing workflows, provide training to ensure teams are proficient in using the tools, and offer ongoing technical support to resolve issues and ensure smooth operations.
The Mechanical segment is leading the Global MEP Software Market by Application in 2023; thereby, achieving a market value of $2,.88 billion by 2031. This is due to the rising demand for energy-efficient building designs, automation, and sustainability. The increasing emphasis on optimizing mechanical systems, such as HVAC, for energy efficiency and compliance with stringent regulations fueled the demand for advanced MEP solutions. Additionally, the integration of smart building technologies and automation, along with the need for systems that meet evolving environmental standards, contributed to the growth of the mechanical segment, making it a key driver in the market.
The On-Premise segment is experiencing a CAGR of 9.3% during (2024 - 2031). The on-premise segment recorded the largest revenue share, primarily due to its established presence in industries where data security, control, and customization are paramount. Many large organizations, particularly in sectors like construction and manufacturing, prefer on-premise deployments as they offer full control over their software infrastructure, ensuring that sensitive MEP design data remains within the company’s physical network. Additionally, on-premise solutions provide the flexibility to be tailored to the specific requirements of large, complex projects, which often involve intricate regulatory and operational standards.
Full Report: https://www.kbvresearch.com/mep-software-market/
The North America region dominated the Global MEP Software Market by Region in 2023; thereby, achieving a market value of $2.70 billion by 2031. The Europe region is expected to witness a CAGR of 8.5% during (2024 - 2031). Additionally, The Asia Pacific region would register a CAGR of 9.3% during (2024 - 2031).
By Component
By Application
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