Expect a double-digit compound annual growth rate (CAGR) in the global architecture, engineering, and construction (AEC) software and services market over the 2010-2014 period, according to a report that TechNavio has released.
TechNavio believes the CAGR for this market will reach 10.1 percent over the five-year forecast period. “One of the key factors contributing to this market growth is the increasing infrastructure investment in the Asia Pacific region and the Middle East. The global AEC software and services market has also been witnessing [an] integrated building model in AEC software. However, the lack of interoperability could pose a challenge to the growth of this market.”
The “Global Architecture, Engineering, and Construction Software and Services Market 2010-2014” report was prepared based on an analysis of the market with inputs from industry experts. The report -- which focuses on the Americas, the EMEA, and the APAC regions -- covers the market landscape and its growth prospects. The report also covers the key vendors operating in the global AEC software and services market.
The adoption of green technology in the AEC industry by AEC software vendors is one of the major emerging trends in the market, one analyst from TechNavio’s IT Security team said, adding that AEC software vendors are integrating with green technology vendors and involving them in the early planning stages to provide a realistic assessment of cost savings and improve the environmental performance.
The AEC industry works on many complex projects that involve a wide range of special areas, which in turn creates demand for more sophisticated AEC software, according to the report. Therefore, the Global AEC Software and Services market is moving beyond traditional software by providing a wide range of applications such as master planning, geotechnical, facades, access, and maintenance, the document noted.
The report also discusses the challenge of achieving interoperability and how this might affect market growth.
Vendors expected to dominate the market space include Autodesk Inc., Bentley Systems Inc., Intergraph Corp., and AVEVA Group Plc.
The report addresses the following questions:
- What will the market size be in 2014, and at what rate will it grow?
- What key trends is this market subject to?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the opportunities and threats faced by each of these key vendors?
- What are the strengths and weaknesses of each of these key vendors?
A representative for Research and Markets did not immediately respond to Construction Project Controls and BIM Report’s request for additional details.