by Space planning software helps streamline the process of designing and planning physical spaces by enabling visualization of floor plans, tracking utilization rates, and providing analysis for future planning. Such software solutions help architects, facility managers, and business owners to optimize usage of available space and improve productivity.
The global Space Planning Software Market is estimated to be valued at US$ 967.43 Mn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing need for effective space management amid uncertain business climates is driving the demand for space planning software. Such software allows organizations to plan space requirements in advance based on growth projections and make changes to floor plans virtually to accommodate changing needs without incurring high costs. It also enables tracking utilization trends over time to identify under-utilized spaces and make efficient reallocations. This has proved beneficial for companies looking to cut real estate costs through optimized space usage. Furthermore, advanced spatial analysis and simulation capabilities of leading space planning software help businesses prepare robust space plans to strengthen their resiliency amid uncertain conditions, thereby propelling the market growth.
SWOT Analysis
Strength: Space Planning Software allow facilities managers and planners to visualize floorplans, track space usage, and plan future space needs efficiently. These solutions help optimize the use of existing office or campus spaces.
Weakness: Changing requirements and restructuring of workspaces often require updates to the floorplans and space allocation plans managed by these software. Getting users accustomed to a new planning process may also be challenging.
Opportunity: As more organizations adopt hybrid work models, there is a growing need to plan and optimize the usage of offices, meeting rooms and collaboration areas. Space Planning Software can help companies adapt workplace strategies around flexible occupancies.
Threats: Open-source and low-cost alternatives exist that provide basic functionalities. Additionally, in-house developed tools pose competition risks to established vendors. Standardization of space planning data formats could disrupt existing proprietary systems.
Key Takeaways
The global Space Planning Software market demand is expected to witness high growth driven by the flexible workspace revolution. The global Space Planning Software Market is estimated to be valued at US$ 967.43 Mn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030.
North America currently dominates the market attributable to early adoption among large enterprises. Asia Pacific is anticipated to be the fastest growing regional market with increasing acceptability of strategic facility management solutions.
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. Accruent has emerged as the leading vendor with its comprehensive space planning module integrated into the larger asset management platform.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
