IMARC Group, a leading market research company, has recently releases report titled “Architectural, Engineering, and Construction (AEC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global AEC market size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global architectural, engineering, and construction (AEC) market size reached US$ 8.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 15.7 Billion by 2028, exhibiting a growth rate (CAGR) of 10.18% during 2023-2028.
What are Architectural, Engineering, and Construction (AEC):
Architecture, engineering, and construction (AEC) software offers a host of services and plans the lifecycle process of a product from presentation to the final stage of production. It helps in editing various elements by using smart algorithmic search and group to enhance productivity and save time. In line with this, AEC aids in minimizing overhead costs and labor expenses, thereby creating faster turn-around time on projects and gaining insights into the latest technologies. It is utilized in visualizing, designing, drafting, and documenting the stages of the project. Architecture, engineering, and construction software is extensively used for electrical and plumbing and building information modeling. It finds wide-ranging applications by interior designers, construction firms, real estate companies, surveyors, mechanical and electrical piping engineers, etc.
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What are the growth prospects and trends in the Architectural, Engineering, and Construction (AEC) industry?
The escalating demand for cost-effective and personalized design solutions, on account of the inflating levels of urbanization, is primarily driving the architecture, engineering, and construction (AEC) market. Additionally, the expanding residential, commercial, and construction sectors and the inflating need for creating high-performing building and infrastructure designs with conceptual and detailed design tools are further bolstering the market growth. Besides this, the widespread adoption of architecture, engineering, and construction by professionals and architects to prepare a layout and utilize a three-dimensional (3D) model-based approach is acting as another significant growth-inducing factor. Moreover, the growing utilization of cloud-based AEC among both large and mid-sized enterprises, as it does not involve capital cost and has low maintenance requirements, is also positively influencing the global market. Apart from this, the rising integration of Artificial Intelligence (AI), Virtual Reality (VR), and the Internet of Things (IoT) technologies that are accurate and easy to understand is anticipated to fuel the architecture, engineering, and construction (AEC) market over the forecasted period.
Architectural, Engineering, and Construction (AEC) Market 2023-2028 Analysis and Segmentation:
Who are the key players operating in the industry?
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- 4M Group
- ACCA software S.p.A.
- Ansys Inc.
- Autodesk Inc.
- AVEVA Group Plc
- Bentley Systems Incorporated
- Construsoft B.V.
- CYPE Ingenieros S.A.
- Esri India Technologies Private Limited
- Hexagon AB
- Nemetschek SE
- Procore Technologies Inc.
What is included in market segmentation?
Product Insights
- Software
- Services
The report has also provided a detailed breakup and analysis of the architecture, engineering, and construction (AEC) market based on the product. This includes software and services. According to the report, software represented the largest segment.
Deployment Mode Insights
- On-premises
- Cloud-based
A detailed breakup and analysis of the architecture, engineering, and construction (AEC) market based on the deployment mode has also been provided in the report. This includes on-premises and cloud-based. According to the report, on-premises accounted for the largest market share.
Enterprise Size Insights
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
The report has also provided a detailed breakup and analysis of the architecture, engineering, and construction (AEC) market based on the enterprise size. This includes small and medium-sized enterprises (SMEs) and large enterprises. According to the report, large enterprises represented the largest segment.
End User Insights
- Construction and Architecture Companies
- Education
- Others
A detailed breakup and analysis of the architecture, engineering, and construction (AEC) market based on the end user has also been provided in the report. This includes construction and architecture companies, education, and others. According to the report, construction and architecture companies accounted for the largest market share.
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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