Global Urban Planning Software and Services Market is projected to reach a valuation of USD 223.83 billion by 2030, growing at a CAGR of 4.2% over the forecast period
Global urban planning software and services market was worth USD 141.37 billion in 2020 and is projected to amplify at a CAGR of 4.2%, thereby accumulating USD 223.83 billion by the end of the analysis timeline.
Global urban planning software and services market- Introduction
Urban planning is referred to as a technical or political strategy emphasizing on land development, environmental safety, and public welfare. It is considered as one of the most integral part of a nation’s development model. The urban planning process further includes entities such as distribution chains, utility systems, communication networks, infrastructure, among others.
Urban planning software or applications are predominantly used by architects or city planners in order to create 3D urban environment models. These models help them to visualize the actual look of the planned urban designs so that they can modify the layouts and implement necessary changes.
Primary growth drivers and restraining factors pertaining to global urban planning software and services market
Rising urban population, increasing expenditure on non-residential construction projects and growing investments in computers and software are the major factors boosting market progression. Alongside, growing disposable income and lifestyle improvements are positively swaying the market dynamics.
Furthermore, growing digital transformation in various sectors, adoption of urban planning software and services by government bodies along with private entities, and surging implementation of smart city initiatives worldwide are creating lucrative expansion opportunities for the marketplace. Presently, there are 21 megacities in the world with each having a population of nearly 10 million, which is anticipated to increase further in the ensuing years, thus contributing to the overall market growth.
However, global urban planning software and services market progression was adversely effected by the COVID 19 pandemic outbreak as several governments shifted their focus from other developmental activities to the healthcare segment to meet the urgent medical requirements.
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Segmental Analysis of the market sphere
Based on component,
- services
- software
Among these, the software segment is anticipated to register notable growth over the forecast duration owing to rising government investments pertaining to the use of efficient technology in urban development.
By deployment
- web based
- cloud based
Among these, the cloud based segment captured a substantial market share in 2020 and is projected to showcase similar growth trends. This is attributable to the benefits offered by cloud based software such as flexibility, cost effectiveness, and quick configurability.
On the basis of application
- Creative Departments
- Residential Construction
- Urban Planning
- architecture Project/Site Planning
- Commercial Interiors
In terms of end user, global urban planning software and services market is classified into infrastructure companies, government, and real estate. Among these, the government segment is expected to capture significant market share over the stipulated timeline due to increasing government investments in various smart city projects.
Insights into the geographical landscape of the market
Regionally speaking, North America, Europe, Latin America, Asia pacific, and Middle East & Africa are the major benefactors to global urban planning software and services market expansion. Among these, Europe presently holds a substantial market share and is projected to retain its position over the estimated timeline. This is ascribed to increasing preference for eco-friendly infrastructure and surge in the number of infrastructure and developmental activities across the region.
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An outlook of the competitive hierarchy of the industry
Major players operating in the marketplace are Autodesk Inc, AECOM, Bentley Systems Incorporated, Stantec Inc, Boston Consulting Group, Urban Footprint Inc, Esri, Holistic City Limited, and Savannah Stimulations AG.
Notably, Spacemaker was acquired by Autodesk Inc in November 2020 for USD 240 million. The decision is aimed at enhancing AI-powered design abilities of urban planning software to enable architects and city planners discover better urban design selections.
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