February 25, 2024
Space Planning Software Market

Space Planning Software Market Is Expected To Be Flourished By Incorporation Of Artificial Intelligence

Space planning software helps businesses and organizations optimize their floor space by planning office layouts. They offer CAD-based floor plans, space utilization reports, and move management features that help facility managers effectively plan office spaces. Popular products associated with this market include AccuGrid, Archicad, AutoCAD, DGN Explorer, Revit and SketchUp.

The global Space Planning Software Market is estimated to be valued at US$ 1114.48 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Implementation of artificial intelligence is expected to drive the growth of the space planning software market. AI can help software analyze existing floor plans and employee schedules to optimize space utilization. It also aids in streamlining maintenance workflows and enhancing predictive capabilities. Growth of the commercial real estate industry is another factor fueling the demand for space planning software. With rising urbanization and infrastructural development globally, demand for commercial and residential spaces is increasing tremendously. Space planning software assist architects, developers and facility managers in designing efficient layouts and allocating appropriate workstations to maximize space usage. Further, integration of Building Information Modeling (BIM) capabilities is also boosting adoption of these solutions across various end-use industries.

Segment Analysis

The global space planning software market can be segmented based on component, platform, organization size, application area, and end use. The solutions segment holds the largest market share owing to the their growing adoption by enterprises for applications like space management, facilities planning and real estate management. Based on organization size, large enterprises dominate the market as they have huge office spaces and campuses where space management is a critical activity. The commercial segment leads under end use due to extensive use of space planning software by corporate offices, retailers, hotels and others for optimizing their space utilization.

PEST Analysis

Political: Space planning software helps in efficient utilization of available space resources, which supports government initiatives towards sustainability. Various government policies promote digitization and automation across industries.

Economic: As office spaces are major business costs, space planning software helps reduce real estate expenses through optimized space allocation. It boosts productivity by facilitating optimal seating arrangements. The software enhances return on investment for enterprises.

Social: Growing workforce, mobile working culture and need for collaborative workspaces are prompting companies to implement software for advanced space management. The software ensures a conducive work environment by provisions like activity-based seating.

Technological: Features like IoT, VR/AR, AI and machine learning are enhancing the capabilities of space planning software. IoT-enabled sensors provide live space utilization data for optimization. VR/AR enable virtual space walkthroughs.

Key Takeaways

The Global Space Planning Software Market Growth is expected to witness high. The global Space Planning Software Market is estimated to be valued at US$ 1114.48 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.

North America dominates currently due to wide adoption across industries like corporate, educational institutes, retail etc driven by growing emphasis on space optimization. The commercial segment, especially corporate offices is a major end user due to complex office layouts and large campuses.

Regional analysis comprises 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 dominates owing to its comprehensive software suite for space management along with other facility management capabilities.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it