LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global architectural engineering and construction (AEC) solutions market to grow at a CAGR of over 12% during the forecast period, according to their latest market research report.
The increasing popularity of cloud-based AEC solutions is one of the major trends being witnessed in the global architectural engineering and construction solutions market 2018-2022. The demand for cloud-based AEC solutions is growing, as the cloud-based AEC solutions enable centralized access to AEC-based project data irrespective of location. The AEC solutions software has many benefits associated with it such as low maintenance, cost, flexibility, and scalability of the storage. In addition, cloud-based AEC solutions get automatically upgraded, which will be beneficial for the construction industry. The cloud-based AEC software also enables contractors, architects, engineers, and sub-contractors to make alterations in the design stage, which helps to optimize time, money and resources. Thus, it is expected that the adoption of cloud-based AEC will have a positive outlook during the forecast period.
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According to Technavio analysts, one of the key factors contributing to the growth of the global architectural engineering and construction solutions market is the increasing requirement for large-scale project management:
Global architectural engineering and construction solutions market: Increasing requirement for large-scale project management
Currently, organizations are focusing on cultivating and managing the resources necessary for efficient product outputs, which increases the requirements of efficient solutions for large-scale construction project management. The primary purpose of AEC solutions is to automate processes to ensure maximum inputs by managing resources and maintaining a regular follow-up. Some of the benefits associated with employing AEC solutions in large-scale project management are process management, projecting profitability, and automation. Thus, with such benefits, it is expected that the global market will have a positive outlook during the forecast period.
According to a senior analyst at Technavio for research on life science research tools, “Advantages such as increasing investment in intelligent processing along with reduction in design time are some of the major factors that are contributing to the growth of the market, which will further boost the growth of the market during the forecast period.”
Global architectural engineering and construction solutions market: Segmentation analysis
The global architectural engineering and construction solutions market research report provide market segmentation by product (software and services), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2017, accounting for close to 43% share, followed by the EMEA and APAC respectively. Although APAC held the smallest share of the market, it is expected to witness the maximum increase in its market share over the forecast period.
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Five Forces Analysis
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- Vendors covered
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