Architectural, Engineering, and Construction Market worth USD 17,570.1 million by 2030

The Market Statsville Group (MSG) publishes the new report on the "Architectural, Engineering and Construction Market by Component (Software and Service), by Deployment Mode (On-premise and Cloud), by Enterprise Size (Large Enterprises and Small and Medium-sized Enterprises), by End-Users (Construction & Architecture Companies, Education, and Others), by Region – Global Share and Forecast to 2030". The global architectural, engineering, and construction market size is estimated to grow USD 17,570.1 million by 2030 from USD 7,791.0 million in 2021, at a CAGR of 10.7% from 2022 to 2030. Working in a construction site is very tough in this vulnerable market condition. Construction projects need proper coordination and understanding between various stakeholders involved due to the collaborative structure of the architecture, engineering, and construction (AEC) sector. Normally, several elements are associated with a construction project, such as suppliers, engineers, architects, builders, and workers. For years, tables, graphs, and drawings documented the exchange of information between these elements. In addition, AEC professionals prefer automated devices to deliver results in less time, save money, and reduce manual operations. AEC software can facilitate these solutions. Moreover, demand for automated systems has gained popularity in the construction industry, which is anticipated to reduce human errors and provide accuracy in a digital representation of construction models, resulting in cost savings and improved productivity.

Global Architectural, Engineering and Construction Market Segmentation

The overall architectural, engineering, and construction market has been segmented into the component, deployment mode, enterprise size, end-users, and region.

• By Component (Software and Service)
• By Deployment Mode (On-premise and Cloud)
• By Enterprise Size (Large Enterprises and Small and Medium-sized Enterprises)
• By End-Users (Construction & Architecture Companies, Education, and Others)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

On-premise, by deployment mode, is estimated to hold the largest market share during the forecast period

The global architectural, engineering, and construction market is segregated into on-premise and cloud-based deployment mode. The on-premise method segment generated the highest revenue of 57.1% of the total global architectural, engineering, and construction market in 2021, and it is expected to register a significant CAGR from 2022 to 2030. The On-premise deployment model for AEC software enables installation of software and permits applications to run on systems present within premises of an organization instead of putting at a distant facility such as server space or cloud. These solutions offer enhanced security features, which drive their adoption in large-scale financial institutions and organizations.

Growth in concerns about the security of data associated with construction projects, which is highly valuable, encourages construction companies to adopt On-premise solutions. Bigger firms in the AEC industry, such as Autodesk Inc., Nemetschek AG, and Bentley Systems, provide on-premise software for their customers in the industrial, healthcare, and residential sectors. Larger firms have a massive workforce, owing to which they can invest heavily in the use and maintenance of this software; thus, these are the target customers for AEC software selling companies. Dependency on services required is one of the major factors owing to which companies do not implement cloud and continue to use On-premise software. These factors are expected to stimulate the growth of the On-premise AEC software segment.

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North America accounts for the largest market share in the architectural, engineering, and construction market in 2021

Based on the regions, the global architectural, engineering, and construction market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. North America was the highest revenue contributor and accounted for 39.6% of the market in 2021. North America architectural, engineering, and construction market includes the U.S. and Canada. North America led the global market in terms of AEC software adoption, owing to increased awareness and government mandates toward using AEC software. Factors such as technological advancements and the emergence of new business models are some of the key contributors anticipated to lead to the rapid growth of the market in the region.

The market in the region is expected to be driven by ongoing technological advancements, supportive government policies, an increase in environmental awareness, and growth in the real estate industry. AEC software helps such sectors to provide better services to customers. Advancements in various services such as the pre-fabrication process, spatial coordination, and integrated model data are anticipated to drive the market in North America.

This research report includes a study on the development and marketing strategies, product portfolios, and winning strategies of the leading architectural, engineering, and construction companies. It also consists of the profiles of leading companies such as Aveva Group Plc, Bentley System, Inc, Ansys Inc., Autodesk Inc., Nemetschek, Newforma, Dassault Systemes, Hexagon AB, Innovaya, and Trimble, Inc. These market players have focused on acquisitions and expansion to gain a larger market share in the architectural, engineering and construction market.

Browse complete report: https://www.marketstatsville.com/architectural-engineering-and-construction-market

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