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| Global Space Planning Software Market Size |
The global Space Planning Software Market is estimated to be valued at US$ 967.43 Mn in 2023 and is expected to exhibit a CAGR of 8.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Space planning software assists in floor planning, space management, and efficient utilization of available space. These software help organizations and building owners visualize how spaces can be designed and laid out.
Market key trends:
One of the key trends in the space planning software market is the integration of augmented reality (AR) and virtual reality (VR) technologies. AR and VR enable users to visualize spaces in 3D format before actual construction. This provides a realistic view of how the space would look physically. It allows users to freely walk around virtual spaces and examine products and furnishings placed within the space. AR and VR help reduce errors and rework, optimize utilization of available space, and improve decision making for space planning. The realistic virtual previews offered enhance collaboration and approval processes.
Segment
Analysis
The global space planning software market is segmented based on component,
functionality, and end use. By component, the market is divided into software
and services. The software segment holds the largest market share due to rising
demand for cost effective space planning solutions. By functionality, the
market is bifurcated into space management and floor planning. The space
management segment currently dominates as it helps in optimizing existing space
and reducing real estate costs. By end use, the market is classified into real
estate, retail, healthcare, hospitality, and others. The real estate segment
accounts for the largest share as space planning solutions help optimize floor
planning and increase utilization of available space for leasing.
Key Takeaways
The Global
Space Planning Software Market Size is expected to witness high growth,
exhibiting a CAGR of 8.1% over the
forecast period, due to increasing need for cost optimization and efficient
space utilization from various end use industries.
Regional analysis
North America dominates the global market currently due to widespread awareness
and adoption of space planning solutions. Asia Pacific is expected to grow at
the fastest rate owing to rapid development of infrastructure and commercial
real estate sector in major economies like China and India.
Key players
Key players operating in the space planning software market are Accruent, Archibus,
FM:Systems Group, LLC, IBM TRIRIGA, iOFFICE, OfficeSpace Software, Planon,
QuickFMS, and SPACEWELL INTERNATIONAL. Accruent accounts for the largest market
share currently as it offers cloud-based space management solution focused on
efficient space utilization.
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