Architecture Software Market Size worth US$ 10,206.44 million by 2028 - Top Key Vendors Are ActCAD, Autodesk , Bluebeam, Inc, Cadsoft, Chief Architect Software, Corel Corporation

According to our latest market study on "Architecture Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Software Type, and End-user," the market is expected to grow from US$ 3,572.89 million in 2021 and is projected to reach US$ 10,206.44 million by 2028; it is expected to grow at a CAGR of 16.2% from 2021 to 2028. Digitalization has been around for a while, and it continues to influence a large number of professions. Professionals in the architecture industry may employ digital technologies to visualize, develop, and process their ideas faster than conventional methods. The conventional processes in this industry involve a high reliance of architects, contractors, interior designers, and real estate developers on a large number of other individuals. The output of architects does not reach its full potential due to lengthy and challenging procedures. Digitalization has altered this scenario, allowing architects to work more efficiently and effectively; it also allows them to work from their homes or other comfortable places. Furthermore, it has automated several tasks that architects no longer need to spend time on, which has accelerated the project planning and visualization phases. Architects can accomplish more in less time, increasing their productivity and potential. They not only learn and practice faster in this manner but also earn more professional experience that can be employed in future projects.

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The Key Players In The Global Market Are: ActCAD, Autodesk , Bluebeam, Inc, Cadsoft, Chief Architect Software, Corel Corporation, Dassault , ystèmes, ProgeSOFT, Trimble Inc, Vectorworks

Global Architecture Software Market Insight:

As the world's population grows, the need for new buildings, malls, and workplaces is also on the rise. The initiatives such as smart cities and high-speed roadways are also contributing to a surge in the number of construction projects. As a result, key players use architecture software products to run these projects smoothly and efficiently with improved construction efforts. Smart buildings connect appliances and buildings in various ways, allowing operators and the building's environment to be controlled for optimal comfort. The US is renowned for its cutting-edge infrastructure and thriving construction sector. Massive projects that have been in the work for a long time are nearing completion, while others are just getting started. The California High-Speed Rail Construction Project, Sound Transit 3 (ST3) Construction Project, Las Vegas Convention Center people mover, and Second Avenue Subway Construction Project are among the major active megaprojects in the US.

Furthermore, the construction sector has flourished in the Middle East and developing countries in Asian Pacific, such as India and China. In 2017, Saudi Arabia launched a slew of major projects that included the King Abdullah Economic City in Rabigh with an estimated cost of ~US$ 27 million. In addition, the Abu Dhabi Improvement Authority announced a budget allocation of USD $ 6.8 million for airport expansion projects and USD$ 500 million for the Presidential Palace construction in Al-Ras Al-Akhdar in the UAE. These forthcoming projects are likely to encourage the use of engineering software such as computer-aided design (CAD); computer-aided manufacturing (CAM); building information modeling (BIM); and architecture, engineering, and construction (AEC), thereby boosting the architecture software industry. Further, several of the essential programs by the Government of India, such as Make in India and smart city projects, are projected to bolster the construction sector in the country. Such rapid rise in infrastructure projects is triggering the demand for architecture software in various regions in the world, thereby driving the architecture software market.

The global architecture software market is segmented on the basis of software type, end-user, and geography. By software type, the market is segmented into basic, advance, and pro. In 2020, the basic segment held the largest share of the architecture software market. Based on end user, the architecture software market is segmented into enterprises, institutions, and others. In 2020, the enterprises segment accounted for the largest share of the architecture software market. Based on geography, the architecture software market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, Europe accounted for a significant share of the market.

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Impact of COVID-19 Pandemic on Global Architecture Software Market

Rising disposable income, and the flourishing architecture & construction industry are among the key factors that contributed to the architectural software market growth before the onset of the COVID-19 pandemic. However, after the beginning of the pandemic in 2020, it adversely affected all major areas of the global economy, including the architectural and design industries. In addition to the displacement of laborers during the prolonged lockdown period, the limited supply of goods previously imported from China, and the consequent need to find alternatives in local markets resulted in the declined performances of these industries.

Due to the impending economic catastrophe, all firms are revamping their strategies to prepare themselves for such unforeseen uncertainties in the future. However, with time and progress made by the healthcare sector, conditions began to improve in late 2021. As a result, people and businesses began adapting to new circumstances with the gradual reopening of enterprises and relaxation of social restrictions. Additionally, in 2021 and 2022, the resumption of construction and architecture activities in the world boosted the architecture software market growth.

The report segments the global Market as follows:

By Software Type (Basic, Advance, and Pro) and

By End User (Enterprises, Institutions, and Others)

Answers that the report acknowledges:

• Market size and growth rate during forecast period.
• Key factors driving the Market.
• Key market trends cracking up the growth of the Architecture Software Market
• Challenges to Architecture Software Market growth.
• Key vendors of Architecture Software Market
• Detailed SWOT analysis.
• Opportunities and threats faces by the existing vendors in Global Architecture Software Market
• Trending factors influencing the market in the geographical regions.
• Strategic initiatives focusing the leading vendors.
• PEST analysis of the market in the five major region

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Contact Us:

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Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

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The Insight Partners is a one stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialist in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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