Space planning software allows architects, designers, facility managers to virtually plan interior spaces such as offices, retail stores, classrooms etc digitally before building anything physically. These software enable interactive 3D modeling of spaces, automated clash detection between objects, produce floorplans, elevation drawings and workflow analysis for more efficient utilization of space. With growing concerns over office space optimization due to rising real estate costs, space planning solutions are widely adopted by corporate offices, educational institutes as well as architecture and design firms.
The global space planning software market is estimated to be valued at US$ 967.43 million in 2023 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 Dynamics:
Driver 1: Efficient utilization of office space has become crucial as commercial real estate prices continue rising. Space planning software supports organizations to optimize usable area and eliminate wasted or underutilized space through advanced modeling, simulations and analytics tools. This helps maximize return on real estate investments. Such efficiencies offered by planning tools is a key factor driving increasing adoption.
Driver 2: Growing need for remote and hybrid working arrangements has also prompted enterprises to redesign office layouts catering to new collaboration and work culture requirements. Space planning solutions enable rapid testing of workplace designs and staff allocation in virtual environments before implementation. This allows for seamless transition to evolving work models, thereby boosting market growth over the forecast period.
Segment Analysis
The global space planning software market is dominated by the commercial sub-segment. This is because commercial segments like corporations widely utilize space planning software for office space optimization and management. Space planning software help commercial organizations efficiently plan and design office space as per the requirements which maximizes utilization and productivity.
PEST Analysis
Political: Space planning software helps optimize utilization of available space resources which is promoted by various government policies across nations. Effective space utilization also ensures compliance with local land and resource laws.
Economic: Space planning allows effective space design and allocation which improves organizations’ operational efficiency. This positively impacts the economic performance through optimized utilization of capital intensive real estate assets and infrastructure.
Social: Software helps design inclusive office spaces catering to diverse workspace needs. Features like remote working and hot desking support flexible work cultures. Access to virtual models aid collaboration for distributed project teams.
Technological: Advanced tools allow real-time collaboration, integrated BIM, AR/VR visualization and interface with other facility management solutions. Cloud deployment and mobile accessibility enhance user experience. Data analytics capabilities provide actionable insights for strategic resource planning.
Key Takeaways
The global space planning software market share is expected to witness high growth. The global space planning software market is estimated to be valued at US$ 967.43 million in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030.
Regional analysis comprises – North America accounts for the largest share in the global space planning software market. This is attributed to growing need for optimized resource utilization and advanced workspace management solutions across industries in the region.
Key players analysis comprises – Key players operating in the space planning software market are innovating their solutions with new features like integrated VR/AR, IoT sensors, and analytics dashboards. For instance, Accruent recently added sensors and analytics capabilities in its MERGE space planning and management platform to enhance the workspace experience.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
