Architecture, Engineering, and Construction (AEC) Software Market: Introduction
- Architecture, engineering, and construction (AEC) software covers the lifecycle process of a product from presentation to the final stage of production and also handels the maintenance issues.
- Architecture, engineering, and construction (AEC) software helps in designing, visualizing, drafting, and documenting the stages of the project. AEC software is used for building information modelling.
- AEC software design tools help to edit several elements using smart algorithmic search and group edit to enhance productivity and save time.
- AEC software provides solutions and services to the construction department of large industrial, residential, and commercial buildings. The AEC software is operated by engineers, architects, and contractors.
- The architecture, engineering, and construction (AEC) software market is projected to expand at a rapid pace during the forecast period, due to rising urbanization and infrastructure projects in developing economies.
Architecture, Engineering, and Construction (AEC) Software Market: Dynamics
Architecture, Engineering, and Construction (AEC) Software Market: Key Drivers.
- Growing need for development of infrastructure and housing is likely to boost the growth of the global construction industry, leading to huge demand for AEC software from designers and construction planners to manage building projects more efficiently. Architecture, engineering, and construction (AEC) implements a 3D model-based approach for construction projects that have been gaining traction across the world.
- Architecture, engineering, and construction (AEC) software can adopt design aids and intelligent plugins to complete tiresome tasks (e.g.: plumbing design and HVAC). AEC software is used in projects of complexity (such as airports), that ensures accuracy throughout the whole project.
- Architecture, engineering, and construction (AEC) software provides benefits such as visualization, synchronization, collaboration of construction and design planning, and cost reduction.
- However, high capital investment for AEC software is expected to hamper the market during the forecast period.
Impact of COVID-19 on the Architecture, Engineering, and Construction (AEC) Software Market
- Increasing cases of COVID-19 across the globe is resulting in economic slowdown. COVID-19 has a negative impact on housing and infrastructure development. However, revenue of the AEC software market is expected to increase in the coming years as companies are likely to start making profit to recover from the economic downturn associated with COVID-19.
North America to Hold Major Share of the Architecture, Engineering, and Construction (AEC) Software Market
- In terms of region, the architecture, engineering, and construction (AEC) software market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America dominated the AEC software market in 2020. The U.S. is a key market in the adoption of new technologies. AEC software solutions, such as construction and architectural design are widely used by end-users in North America for designing, planning, and construction facilities.
- The Architecture, Engineering, and Construction (AEC) software market in Asia Pacific is projected to expand at a rapid pace during the forecast period. Asia Pacific is expected to lead the construction industry in future because of increasing number of construction projects along with shopping malls and business centers.
Architecture, Engineering, and Construction (AEC) Software Market: Competition Landscape
Several local, regional, and international players are active in the architecture, engineering, and construction (AEC) software market with a strong presence. Rapid technological advancements have created significant opportunities in the global AEC software market.
Key Players Operating in the Architecture, Engineering, and Construction (AEC) Software Market Include:
- AVEVA Group
- PTC, Inc.
- Bentley Systems
- Dassault Systems
- Hexagon, Inc.
- RIB Software, Inc.
- Computer and Structure, Inc.
- Trimble, Inc.
- Archon Engineering
- Carlson Software, Inc.
- Foresoft Pty, Ltd.
- Roads & Bridges
- Construsoft B.V.
- GEOTEC Software
Architecture, Engineering, and Construction (AEC) Software Market: Research Scope
Architecture, Engineering, and Construction (AEC) Software Market, by Offering Type
- Facility Management
- Architectural Design
- Software Support and Maintenance
- Project Management and Support
Architecture, Engineering, and Construction (AEC) Software Market, by Project Life Cycle
Architecture, Engineering, and Construction (AEC) Software Market, by Application
- Civil Infrastructure
- Oil & Gas
Architecture, Engineering, and Construction (AEC) Software Market, by End-User
- AEC Professionals
- Consultants and Facility Managers
Architecture, Engineering, and Construction (AEC) Software, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.