Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 8.9 Billion | USD 16.5 Billion | 10.20% | 2022 |
FrequentlyAsked Questions
For successful project life cycle management, real estate businesses, construction firms, surveyors, interior designers, and mechanical & electrical piping engineers employ architecture, engineering, and construction (AEC) software. The primary goal of AEC software is to improve project performance and results.
Surge in infrastructure projects is likely to offer better growth opportunities. As the world's population grows, so does the need for new buildings, malls, and workplaces, thanks to the advent of initiatives like smart cities and high-speed roadways. As a result, important stakeholders are using AEC software to run these projects smoothly and effectively. In the Middle East and most growing Asian-Pacific nations, such as India and China, the building sector has grown rapidly. This rapid surge in future projects is likely to offer better growth prospects
According to the Zion Market Research report, the global Architectural Engineering and Construction AEC market was worth about USD 8.9 billion in 2022 and is estimated to grow to about USD 16.5 billion by 2030.
The global AEC market is expected to grow at a rapid CAGR of 10.20% during the forecast period.
North America held the major share of the global AEC market in 2021. This is owing to a significant expansion in the building and infrastructure industry, such as artificial intelligence adoption and an increase in the need for automation in the construction and architectural sector.
Key players operating in the global AEC market include Autodesk inc., Bentley system inc., Aveva Group plc., Trimble inc., ACCA Software, 4M Group, Esri India Technologies Private Limited, Procore Technologies, Inc., Construsoft B.V., Ansys Inc., Dassault systems, Nemetschek, Ansys, Newforma, Hexagon AB, and Innovaya.
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