According to the latest report by IMARC Group, titled “Architectural, Engineering, and Construction (AEC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global architectural, engineering, and construction (AEC) market size reached US$ 8.7 Billion in 2022. Architectural, engineering, and construction (AEC) comprise a broad range of activities related to the design, development, and construction of buildings and infrastructure projects. It assists in creating functional and aesthetically pleasing structures that cater to the needs of individuals, businesses, and communities. It benefits in editing various elements and enhances the productivity of a business. Besides this, it aids in reducing overhead costs and labor expenses while promoting fast and efficient development of infrastructure.
Global Architectural, Engineering, and Construction (AEC) Market Trends:
At present, the rising demand for cost-effective and personalized design solutions among individuals across the globe represents one of the major factors impelling the growth of the market. In addition, the growing adoption of AEC due to the rising number of infrastructure and construction activities around the world is providing a positive market outlook. Moreover, the increasing employment of AEC by professionals and architects to prepare a detailed layout and utilize a three-dimensional (3D) model-based approach for construction projects is offering lucrative growth opportunities to industry investors. Apart from this, the rising focus on green building and sustainable construction to reduce environmental impact and promote sustainability is strengthening the growth of the market. Furthermore, the increasing adoption of cloud-based AEC among various business enterprises due to low maintenance costs is supporting the growth of the market. Looking forward, the market value is projected to reach US$ 15.7 Billion by 2028, expanding at a CAGR of 10.18% during 2023-2028.
- Based on the product, software exhibits a clear dominance in the market, followed by services.
- On the basis of the deployment mode, the market has been bifurcated into on-premises and cloud-based. At present, on-premises hold the largest market share.
- Based on the enterprise size, large enterprises represent the biggest segment, followed by small and medium-sized enterprises (SMEs).
- On the basis of the end user, the market has been classified into construction and architecture companies, education, and others. Construction and architecture companies currently exhibit a clear dominance in the market.
- Region-wise, the market has been segmented into North America (United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, North America enjoys the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being 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, and Procore Technologies Inc.
|Base Year of the Analysis
||Product, Deployment Mode, Enterprise Size, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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., etc.
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