The gradual revival of the building & construction sector post the ravage of COVID-19 is anticipated to create opportunities in the construction and design software market. Prior to the outbreak of COVID-19, increasing number of large-scale construction project that are planned and executed using technology and cloud-based solutions is stimulating the construction and design software market.
The growing use of virtual reality and augmented reality is creating new frontiers in the construction and design software market. These technologies are integrated with construction and design software for a near real view of construction undertakings before they are actually commenced. This helps stakeholders and investors in the construction undertakings to have a fairly good view of the project for their interest. This favors the construction and design software market.
The report provides detailed insights into the construction and design software market for the forecast period from 2021 – 2031. Analysts at TMR evaluated key influencing factors along with trends and opportunities that will have an impact on the growth trajectory of construction and design software market for the forecast period.
The growing integration of next-gen technologies with construction and design software will amplify growth in the construction and design software market. The integration of augmented reality and virtual reality enables viewing of elevations, dips at construction sites prior to the commencement of projects that helps to increase the safety of on-site personnel.
The use of interior design software enables architects to foresee the execution thereby minimizing the need to rebuild and remodel construction projects.
The use of construction and design software improves productivity considerably. The use of software applications reduces dependency on documentation and paper works
One of the key factors driving the adoption of construction and design software is improved productivity by reducing the dependency on paper-based models. The use of software applications enables engineers and architects to prepare a comprehensive floor layout, which includes accurate measurement of windows, doors, walls, lighting, and furniture.
Furthermore, the use of construction and design software magnifies the accountability and efficiency of construction undertakings by streamlining their manual processes. Scheduling jobs and their cost estimates, project management, cost control, punch listing, and assessing risks associated with construction projects are some other tangible benefits of using construction and design software. This fuels the construction and design software market.
The construction and design software market is largely consolidated with the presence of some large software companies in the fray. Aggressive investments in R&D, new product development, and improving the capability of existing products are some of the focus areas of keen players in the construction and design software market.
Some prominent companies operating in the construction and design software market are Oracle Corporation, Constellation Software Inc., and Microsoft Trimble Inc.
North America accounts for the leading share in the construction and design software market. This is primarily due to the large-scale adoption of technologically-driven processes in the infrastructure segment and digital collaboration tools such as BIM by architects, designers, engineers, and builders.
In addition, with the gradual revival of the construction sector with slowdown of the impact of COVID-19, huge investments for infrastructural development and proposals for smart city projects are creating demand for construction and design software in the region.
The role of governments in promoting the use of technology for superior quality of construction projects benefits the construction and design software market in the region. For example, in June 2021, the U.S. government announced an investment worth US$ 2 trillion with the aim to minimize pollution from construction and infrastructural development segments. This involves the use of construction and design software for useful insights to plan and execute that can help attain such objectives.
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