The Mechanical Electrical And Plumbing Software Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Mechanical Electrical And Plumbing Software Global Market Report 2024, The mechanical electrical and plumbing software market size has grown rapidly in recent years. It will grow from $4.56 billion in 2023 to $5.06 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to increased demand for energy-efficient buildings, regulatory compliance, increasing urbanization, global construction boom, efficiency gains in project delivery, complexity of building designs..
The mechanical electrical and plumbing software market size is expected to see rapid growth in the next few years. It will grow to $7.56 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to renewable energy integration, focus on maintenance and facility management, global infrastructure investments, sustainable design and certification, data security and privacy measures.. Major trends in the forecast period include building information modeling (bim) integration, cloud-based solutions, mobile accessibility and field integratio, iot and smart building integration, focus on collaboration and communication..
The increasing demand for energy-efficient buildings is expected to propel the growth of the mechanical, electrical, and plumbing software market going forward. Energy-efficient buildings refer to structures designed and constructed to minimize energy consumption and maximize resource efficiency while maintaining comfort, functionality, and occupant well-being. Mechanical electrical and plumbing software aids in operational efficiency, lifecycle analysis, and green building certification, meeting the rising awareness of environmental impact. For instance, in October 2022, according to the US Green Building Council (USGBC), a US-based non-profit organization, in the US over 5,000 additional projects were leadership in energy and environmental design (LEED) certified in 2022, and 8,800 additional project registrations were made in 2022. Further, in February 2022, 1,077 leadership in energy and environmental design projects were approved in China, covering more than 152 million square feet of certified Leadership In Energy And Environmental Design space in 2021. Therefore, the increasing demand for energy-efficient buildings is driving the growth of the mechanical, electrical, and plumbing software market.
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The mechanical electrical and plumbing software market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment: Cloud, On-Premises
3) By Application: Construction Industry, Electrical Industry, Mechanical Engineering, Plumbing Industry, Other Applications
Major companies operating in the mechanical electrical and plumbing software market are adopting innovative technologies such as digital mechanical, electrical, and plumbing (MEP) workflow to provide reliable customer service. Digital mechanical, electrical, and plumbing (MEP) workflows use digital tools and technologies in mechanical, electrical, and plumbing (MEP) design to automate tasks, improve communication, and share information across the project team. For instance, in September 2021, Trimble Inc., a US-based software, hardware, and services provider, launched SysQue v8.3, a uniquely designed digital tool to drive greater efficiency in modeling workflows and digitizing MEP workflows from design to the shop floor. The ability to quickly configure wall assemblies, save configurations as business standards, and set them in the model at precise heights improves electrical efficiency and productivity. With the addition of the PypeServer interface, it can create pipe CAM files directly from the Revit model.
The mechanical electrical and plumbing software market report table of contents includes:
1. Executive Summary
2.Mechanical Electrical And Plumbing Software Market Characteristics
3.Mechanical Electrical And Plumbing Software Market Trends And Strategies
4.Mechanical Electrical And Plumbing Software Market analysis
5.Mechanical Electrical And Plumbing Software Market Size And Growth
6.Mechanical Electrical And Plumbing Software Segmentation
7.Mechanical Electrical And Plumbing Software Regional And Country Analysis
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27.Mechanical Electrical And Plumbing Software Competitive Landscape And Company Profiles
28.Mechanical Electrical And Plumbing Software Key Mergers And Acquisitions
29.Mechanical Electrical And Plumbing Software Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Siemens AG
- Schneider Electric
- Ecolab Inc.
- EMCOR Group Inc
- GDI Integrated Facility Services Inc.
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