Construction Design Software Market Overview 2023-2027: Expected Growth Rate, Major Drivers And Leading Regions As Per The Business Research Company's Construction Design Software Global Market Report 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, Dec. 06, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Construction Design Software Global Market Report 2023, the global construction design software market is positioned for substantial growth, with projections indicating an increase from *$8.84 billion in 2022* to *$9.68 billion in 2023*, showcasing a robust compound annual growth rate *(CAGR) of 9.6%.* Despite economic challenges arising from the Russia-Ukraine war disrupting global recovery efforts post-COVID-19, the construction design software market is anticipated to reach *$13.31 billion by 2027*, boasting a *CAGR of 8.3%.**Driving Forces*
The upsurge in demand for construction activities is expected to propel the growth of the construction design software market. As construction companies increasingly rely on design software for 3D modeling, design collaboration, cost estimation, and schedule management, the efficiency of projects improves significantly. Noteworthy data from Stats NZ Tauranga Aotearoa and the US Census Bureau underlines the increasing trend, with building activities and the value of construction activities experiencing significant growth. The construction design software market is poised to benefit from the rising demand for enhanced project efficiency in construction activities.
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*https://www.thebusinessresearchcompany.com/report/construction-design-software-global-market-report*
*Major Players and Market Trends*
Key players in the construction design software market, including Oracle Corporation, Autodesk Inc., and Trimble Inc., are actively adopting technological advancements to sustain their positions. Notably, Vectorworks Inc. launched the latest version of the Vectorworks 2022 product line in September 2021, incorporating next-generation performance and feature-rich upgrades to empower designers. Additionally, Bentley Systems Inc.'s acquisition of E7 Pty Ltd. in February 2021 highlights the industry's commitment to enhancing construction modeling, project management, and reporting through innovative solutions.
*Market Segments and Leading Regions*
Asia-Pacific emerged as the largest region in the construction design software market in 2022, indicating a dynamic and evolving landscape. The market is segmented based on components (software, service), deployment (on-premises, cloud), application (project management and scheduling, project design, safety and reporting, field service management, cost accounting, and other applications), and end-users (architects and builders, remodelers, designers, and other end-users).
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The Construction Design Software Global Market Report 2023 provides invaluable insights for industry players seeking strategic growth. By offering comprehensive analyses of market trends, drivers, and regional dynamics, the report equips businesses with the knowledge needed to make informed decisions. To harness the full potential of the report, players are encouraged to leverage the technological advancements and emerging trends outlined within. By understanding the market landscape, businesses can position themselves strategically, innovate their offerings, and tap into emerging opportunities, ensuring sustainable growth in the dynamic construction design software market.
*Construction Design Software Global Market Report 2023* by The Business Research Company provides insights on the construction design software market size, construction design software market segments, construction design software market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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