Global Space Planning Software Market, By Component (Software, Services (Professional Services (Consulting services, Education & Training, Installation, Support, & Maintenance), Managed Services)), By Solution (Room Reservation, Visitor Management, Move Management, Stack Planning, Facility Management, and Others), By Deployment Model (On-Premise and Cloud-Based), By End-user(Real-Estate, Logistics & Warehousing, Manufacturing, Healthcare , Retail, BFSI and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2028, is expected to be valued at US$ 1,393.7 million by 2028, exhibiting a CAGR of 8.11% during the forecast period (2021 - 2028), as highlighted in a report published by Coherent Market Insights.
Space Planning Software Market helps to plan a particular space on computing devices which helps in reducing costs and utilizing the whole area properly without leaving any space place. Furthermore, the global space planning software platform market is segmented on basis of component, solution, deployment model, end-user, and region.
The Global Space Planning Software Market was accounted for US$ 708.2 Mn in terms of value in 2019 and is expected to grow at a CAGR of 8.1% for the period 2021-2028.
The increase in development of smart building projects in countries such as the U.S. is expected to create new opportunities for players operating in the target market over the forecast period (2021-2028). Most of the leading market players, including IBM Corporation, Accruent, and Archibus, have their headquarters in the U.S.
Furthermore, new advancements in real estate and infrastructure sector demand for the space planning software. Thus, these factors are expected to propel the global space planning software market growth over the forecast period.
Global Space Planning Software Market - Impact of Coronavirus (Covid-19) Pandemic
COVID-19 has significantly disrupted almost all the industries including transportation, manufacturing, oil and gas, infrastructure, and others. To combat COVID-19 pandemic, most of the countries had implemented lockdown and are now easing it phase-wise and industry wise. Therefore, the space planning software market growth has temporarily slowed down.
COVID-19 pandemic has augmented trends in office space planning. Work from home policies were already impacting the modern workspace before the COVID-19 pandemic. At present, most of the companies are willing to bring their workforces back into safe and sustainable work patterns. For instance, in June 2020, iOFFICE, a provider of cloud-based integrated workplace management and facilities management solutions, introduced a new feature called Space-Right, in space management software. The new space-right feature enables companies to update floor plans and implement safe distancing in their workspaces.
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Major companies operating in the global space planning software market are: Accruent, Archibus, FM:Systems Group, LLC, IBM TRIRIGA, iOFFICE, OfficeSpace Software, Planon, QuickFMS, and SPACEWELL INTERNATIONAL
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