Enjoy complimentary customisation on priority with our Enterprise License!
The global AEC market is anticipated to grow rapidly and will post a CAGR of close to 12% during the forecast period. The rising demand for cloud-based AEC solutions will drive the growth prospects for the global AEC market until the end of 2021. One of the major factors responsible for the growing demand for cloud-based AEC solutions is its ability to provide centralized access to AEC-based project data irrespective of location. Also, other benefits associated with cloud-based AEC such as accessibility on any operating system such as Windows, Apple, and Android. Furthermore, the availability of new cloud-based AEC solutions will increase during the forecast period because many end-users have begun to realize the associated benefits such as low maintenance cost, flexibility, and scalability of the solution.
The growth of 5D building information modeling (BIM) will drive the growth prospects for the global AEC market for the next few years. 5D BIM is considered as an evolution of 4D and 3D BIM that provides a platform for the integration of time and cost factor. Also, 5D BIM helps in obtaining information such as deviations from the pre-determined project schedule and budget, an in-house database with complete details regarding the cost and labor productivity rates, efficient preparation of cost schedules, etc.
The global AEC market is characterized by the presence of well-diversified international and regional vendors. It has been observed that international players are focusing on expanding their foothold in the market by increasing their product extensions, technological innovations, and M&A, whereas, local vendors find it difficult to compete with large vendors in terms of quality and features of AEC solutions.
Key vendors in this market are -
Other prominent vendors in the market include 4M, CadSoft EAGLE, CYPE Ingenieros, Dassault Systèmes, Innovaya, Integrated Environmental Solutions, Newforma, and Virtual Build Technologies.
The software segment accounts for the maximum market share in 2016 and will continue to dominate the market for the next few years. With the growth in the global construction industry, the purchase of AEC software has significantly increased since 2010.
In terms of geography, APAC is one of the fastest growing regions and will continue to grow during the forecasted period. Increased government initiatives that promote the adoption of AEC for public and private construction projects will drive the market’s growth prospects in this region.
Technavio also offers customization on reports based on specific client requirement.
PART 01: Scope of the report
PART 02: Market research methodology
PART 03: Introduction
PART 04: Global construction industry
PART 05: Global AEC market
PART 06: Market segmentation by product
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Five forces model
PART 14: Key vendor analysis
PART 15: Key vendor profiles
PART 16: Appendix
PART 17: Explore Technavio
Tags: civil engineering, mechanical engineering, software development, it consulting services, PLM market outlook, PLM market forecast,
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.