by The Space Planning Software Market is estimated to be valued at US$ 967.43 Mn in 2023 and is expected to exhibit a CAGR of 8.11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Space planning software helps architects and space planners design, plan, manage, and analyze space usage in commercial buildings and workplaces. These software solutions enable users to model workplace environments in 2D and 3D, place furniture and fixtures, set up zones for different activities, and assess space utilization. They offer features for dynamic space planning, room booking, resource management, analytics and reporting. Space planning software find applications in areas such as corporate offices, educational institutions, healthcare facilities, retail stores, manufacturing plants, and more to optimize space usage.
Market Dynamics:
Growing adoption of flexible workspaces: There is a rising demand from organizations to accommodate flexible and remote working styles of employees. This is propelling the adoption of agile workspace designs with activity-based zoning, hotdesking and collaborative areas. Space planning software allows easy remodeling of spaces as per changing needs.
Focus on space optimization: Commercial property owners and facility managers are under increasing pressure to maximize space utilization and enhance building experiences. Space planning solutions help analyze space usage patterns, identify under-utilized areas and suggest optimization strategies to accommodate more people in existing footprints.
Segment Analysis
The global space planning software market is dominated by the facility and space management segment. This segment accounts for over 50% of the total market share owing to the increasing need among organizations to effectively manage various office spaces, meeting rooms, and other facilities. The space planning software allows organizations to digitally design and plan the office spaces as per their requirements and also helps in monitoring resource utilization.
PEST Analysis
Political: The space planning software market is positively impacted by various government initiatives to promote efficient utilization of resources in commercial buildings and workplaces.
Economic: The market is witnessing high growth due to cost benefits achieved through effective space planning with automated tools. It helps organizations reduce real estate costs.
Social: Changing work culture and flexible work models have increased the demand for space planning software that supports hybrid and remote working models.
Technological: Advancements in VR/AR, AI, and IoT have enabled the development of more intuitive and advanced space planning software with interactive 3D views and real-time data analytics capabilities.
Key Takeaways
The Global Space Planning Software Market Size is expected to witness high growth, exhibiting CAGR of 8.1% over the forecast period, due to increasing need for efficient space utilization among organizations. The market size is estimated to reach US$ 1,686.36 Mn by 2030.
Regional analysis: North America dominates the global market and is expected to continue its dominance during the forecast period. This is owing to widespread adoption of advanced facilities management solutions among enterprises in the region. Asia Pacific is expected to witness fastest growth during the forecast period with increasing digitization initiatives of commercial spaces in China and India.
Key players: Key players operating in the space planning software market are Accruent, Archibus, FM:Systems Group, LLC, IBM TRIRIGA, iOFFICE, OfficeSpace Software, Planon, QuickFMS, and SPACEWELL INTERNATIONAL. These players are focused on developing advanced AI-powered space planning and asset management solutions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
