NEW YORK, Feb. 27, 2024 /PRNewswire/ — Technavio has been monitoring the architectural engineering and construction solutions (AECS) market, operating in the IT software industry. The report estimates it to register an incremental growth of USD 6.41 billion, at a CAGR of 11.7% during the forecast period. The software segment in the AECS industry is poised for substantial growth, driven by increased adoption of product lifecycle management solutions like CAD and CAE. With rising construction activities globally, there’s a notable surge in AECS purchases, particularly in Europe and North America, fueled by BIM-enabled projects. Valued at USD 5,360.59 million in 2017, the software segment leads, offering streamlined labor, event, and cost management, enhancing project profitability and efficiency. For instance, TELACU Construction leverages Procore to expedite construction communications, exemplifying the sector’s potential for efficiency gains. These factors are set to propel market growth in the forecast period. Request Sample Report.
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Report |
Details |
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Page number |
166 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast |
2023-2027 |
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Growth |
Accelerate at a |
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Market growth |
USD 7,612.71 |
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Market |
Fragmented |
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YoY |
11.09 |
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Regional |
North America, |
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Performing |
North America at |
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Key |
US, China, Japan, |
The global AECS market is characterized by the presence of well-diversified international and regional vendors. Competitors have to focus on performance, innovation, cost, and financial stability to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Request Sample Report.
Market Vendors
We provide a detailed analysis of around 25 vendors operating in the Architectural Engineering and Construction Solutions (AECS) Market, including some of the vendors such as vendors Backed with competitive intelligence and benchmarking, our research reports on the Architectural Engineering and Construction Solutions (AECS) Market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
- 4M Group
- ACCA software Spa
- ANSYS Inc.
- Autodesk Inc
- AVEVA Group Plc
- Bentley Systems Inc.
- CYPE Ingenieros SA
- Dassault Systemes SE
- Esri
- GEOTEC Software Inc.
- Hexagon AB
- Innovaya LLC
- Integrated Environmental Solutions Ltd.
- Nemetschek SE
- Newforma Inc.
- Oracle Corp.
- Procore Technologies Inc.
- Trimble Inc.
- Virtual Build Technologies
- Construsoft B.V. Find additional highlights on the growth strategies adopted by vendors and their product offerings, Download a Sample Report.
The increasing need for managing large-scale projects
Currently, organizations are focusing on cultivating and managing the resources necessary for efficient product output, which increases the need for efficient solutions for the management of large-scale construction projects. The primary purpose of AECS is to automate processes to ensure maximized output by managing resources and maintaining regular follow-up. Automated services increase connectivity so that organizations can handle project-related inquiries easily and effectively. Also, automation decreases response time and increases productivity, which ensures efficient process management. By using AEC solutions, revenue possibilities can be rapidly increased by calculating conversion ratios and running reports to track the metrics detailed as per customer demand. These features reduce the operating time. Thus, such benefits associated with the adoption of AECS will drive the growth of the market in focus during the forecast period.
- The challenges associated with open-source platforms is the major challenge impeding the architectural engineering and construction solutions (AECS) market growth. To know about the additional drivers and challenges. Request a Sample Report
Based on geographic segmentation, 35% of the market’s growth originated from North America during the forecast period. In addition, software led the growth of the product segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the superfood powders market size.
- Product
- Software
- Services
- Deployment
- On-premise
- Cloud-based
- Geography
- North America
- Europe
- APAC
- South America
- Middle East And Africa
Analyst Review
The Architectural Engineering and Construction Solutions (AECS) market is a pivotal aspect of the global construction industry. With large-scale projects becoming increasingly prevalent, efficient project management is paramount. Design time and addressing design changes swiftly are crucial drivers in this landscape. Despite advancements in AECS systems, rework and paperwork remain persistent challenges, impacting project scheduling and costing. However, AECS solutions offer promising trends, streamlining documentation and data management. As the global construction industry faces diverse problems, AECS systems emerge as essential tools for project planning and execution. Forecasting a substantial market size in the coming years, AECS providers focus on addressing industry-specific needs, enhancing efficiency, and minimizing errors. In navigating the complexities of construction projects, AECS solutions stand as indispensable assets. Request a Sample Report
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Table of Contents:
1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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