Press Release

Global Architectural, Engineering and Construction (AEC) Market to Grow at a CAGR of 10.3% During 2024-2032, Aided by the Growing Construction Sector

Global Architectural, Engineering and Construction (AEC) Market

According to a new report by EMR titled, ‘Global Architectural, Engineering and Construction (AEC) Market Report and Forecast 2024-2032’, the market reached a value of nearly USD 10.05 billion in 2023. It is projected to grow at a CAGR of 10.3% during 2024 and 2032 to reach around USD 24.36 billion by 2032.

Increased government requirements for the use of AEC software are stimulating the market expansion. Moreover, the architectural, engineering and construction (AEC) market growth can be attributed to the expansion of the construction sector.

 

The increasing need for advanced infrastructure and building designs, supported by detailed and conceptual design tools, is a significant trend driving the market for architectural, engineering, and construction (AEC). Additionally, the extensive adoption of a three-dimensional model-based approach by architects and industry professionals is further driving the demand for AEC solutions.

 

Region-wise, the Asia Pacific is expected to demonstrate significant growth in the forecast period. This is primarily due to the widespread adoption of AEC software in response to the booming construction sector in this region. Moreover, the growing adoption of innovative technologies such as cloud, building information modelling (BIM), and augmented and virtual reality are expected to revolutionise architecture, engineering and construction (AEC) solutions in the forecast period.

 

In June 2023, Hexagon AB (STO: HEXA-B) introduced a cloud-based solution, the HxGN AEC Project Viewer. This innovative tool was designed to establish real-time connections between office and field operations. Leveraging Building Information Modelling (BIM), the AEC Project Viewer seamlessly integrates model, schedule, and document management procedures into a single cloud-based platform.

 

Its purpose is to enhance visibility, cooperation, and communication within construction projects. Notably, the AEC Project Viewer facilitates the evolution from 3D modelling to comprehensive 5D construction management by incorporating time and cost-related insights into the process. Such product launches by key players are favouring the market expansion.

 

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Market Breakup by Component, Deployment, Enterprise, End Use, and Region:

  • The market is segmented based on component into software and services.
  • On the basis of deployment, the market is divided into on-premise and cloud-based, among others.
  • Based on enterprise, the market is bifurcated into small and medium-sized enterprises and large enterprise.
  • Based on end use, the market is categorised into constructure and architecture and education, among others.
  • Region-wise, the global market for architectural, engineering and construction (AEC) includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Key Findings of the Report:

  • The market is experiencing significant growth due to enhanced efficiency achieved through software compatibility and government mandates promoting the adoption of AEC software. Concurrently, the expansion of the construction sector is playing a pivotal role in driving the architectural, engineering and construction (AEC) market demand.
  • Growing concerns about the environment and energy conservation, coupled with the emergence of virtual reality (VR) and augmented reality (AR) technologies and their integration into the fields of architecture, engineering, and construction, are poised to offer highly promising prospects for the market expansion.
  • Many AEC firms are now embracing software solutions to streamline various construction processes, including procurement and data management. This strategic adoption of software tools enhances the overall productivity of construction projects.

 

Key Offerings of the Report:

  • The EMR report gives an overview of the global architectural, engineering and construction (AEC) market for the periods (2018-2023) and (2024-2032).
  • The report also offers historical (2018-2023) and forecast (2024-2032) market information for the components, deployment, enterprises, end uses, and major regions of architectural, engineering and construction (AEC).
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

 

The major players in the global architectural, engineering and construction (AEC) market are Ansys, Inc., Autodesk Inc., Aveva Group Plc, Bentley Systems Inc., Dassault Systemes SE, Hexagon AB, Nemetschek SE, Newforma, Inc., Trimble Inc., and PTC Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Component
  • Deployment
  • Enterprise
  • End Use
  • Region
Breakup by Component
  • Software
  • Services
Breakup by Deployment
  • On-Premise
  • Cloud-Based
  • Others
Breakup by Enterprise
  • Small and Medium-Sized Enterprises
  • Large Enterprise
Breakup by End Use
  • Constructure and Architecture
  • Education
  • Others
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Ansys, Inc
  • Autodesk Inc.
  • Aveva Group Plc
  • Bentley Systems Inc.
  • Dassault Systemes SE
  • Hexagon AB
  • Nemetschek SE
  • Newforma, Inc.
  • Trimble Inc.
  • PTC Inc.
  • Others

 

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