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Urban Planning and Design Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component, Deployment, and Application
The global urban planning and design software market is expected to grow from US$ 2,916. 26 million in 2021 to US$ 4,534. 09 million by 2028; it is estimated to grow at a CAGR of 6. 5% from 2021 to 2028.
New York, April 21, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Urban Planning and Design Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component, Deployment, and Application" - https://www.reportlinker.com/p06270051/?utm_source=GNW
The growth of suburban cities is due to the rural population’s migration in search of better employment and lifestyle.Global economists and urban planners found that economic and infrastructure development in suburban areas is also one of the reasons for the growth of suburbs.
According to an article published by Times Property in January 2022, employment opportunities are more centralized within the city center compared to suburbs.The population density of suburban cities peaks within 2 km of the city center because of better transportation facilities and corporate offices.
These are a few of the significant reasons for the growth of suburban areas in countries such as India. Therefore, the future transformation of rural to suburban areas will require planning and design software for infrastructural development; it will also support urban planning and design software market growth in the coming years.
Governments are shifting their focus from rigid decision-making to a centralized decision-making model due to benefits such as the quick implementation of decisions, improved work quality, and reduced unnecessary costs.Moreover, other urban planners are deploying a centralized model that is more open to ecosystem partners and individuals who are part of the value chain.
Therefore, the focus on deploying a centralized decision-making model across countries is creating opportunities for urban planning and design software developers.
Impact of COVID-19 Pandemic on Global Urban Planning and Design Software Market
Before the emergence of the COVID-19 pandemic, urban planning and design software requirements were prevalent due to the growing global population.City leaders planned metropolitan cities and provided essential services and affordable housing solutions to overcome the expanding population need.
According to the World Bank data, ~55% of the world’s population (~4.2 billion inhabitants) lived in metro cities in 2019. This trend was continuously rising, and the need for developing infrastructure was also increasing, further supporting the growth of the urban planning and design software market.
In 2020, the COVID-19 pandemic adversely affected the urban planning and design software market’s growth due to the downfall in the manufacturing & construction industries.The pandemic derailed the entire construction industry with the cancelations and postponements of several construction projects.
Furthermore, as governments diverted their focus from development activities to healthcare, the urban planning and design software market was hampered.
In 2021 and 2022, the relaxation of lockdown measures and resumption of manufacturing & construction activities in urban areas positively impacted the urban planning and design software market growth.Also, due to the increase in the urban population, urban planning requirements have risen considerably.
According to the World Bank Group data, by 2045, the global urban population will increase to 6 billion.
The urban planning and design software market growth was adversely affected owing to the downfall in the manufacturing & construction industries. However, the urban planning and design software market will grow during the forecast period due to the increase in the urban population.
Based on component, the global urban planning and design software market is bifurcated into software and services.In 2021, the software segment led the urban planning and design software market, accounting for a larger share in the market.
Based on deployment, the global urban planning and design software market is bifurcated into on-premise and cloud-based.In 2021, the cloud-based segment accounted for a larger market share.
Based on application, the global urban planning and design software market is segmented into architects, city planners, and creative departments.In 2021, the architects segment accounted for the largest market share.
By geography, the urban planning and design software market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, North America accounted for the largest share in the global urban planning and design software market.
The overall urban planning and design software market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the urban planning and design software market with respect to all the market segments.Also, primary interviews were conducted with industry participants to validate data and gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the urban planning and design software market.
The key companies operating in the urban planning and design software market include Bentley Systems Incorporated; Modelur; SIMWALK; SketchUp; UrbanFootprint; Urbansim; T-Square Engineering, Inc.; Esri; Holistic City Limited; and Act-3D.
Read the full report: https://www.reportlinker.com/p06270051/?utm_source=GNW
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