February 21, 2024
Space Planning Software Market
Ict

The Global Space Planning Software Market Is Driven By Increasing Demand For Workspace Optimization

Space planning software provides floor plan designing tools that help organizations optimize their office spaces by eliminating inefficient layouts. These solutions enable users to create digital floor plans, rearrange furniture, add equipment and personnel, and track space utilization over time. Space planning tools offer advanced measurement technology, extensive furniture and equipment libraries, collaborativeCAD drafting features as well as reporting and analytics capabilities. Users can import AutoCAD files, sketch layouts directly into the software, effortlessly change space configurations, and generate real-time cost estimates. Organizations utilize space planning applications to right-size their facilities footprint, improve space allocation processes, and maximize space utilization rates while containing real estate costs.

The global space planning software market is estimated to be valued at US$ 1114.48 billion 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 key trends:

One of the key trends shaping the space planning software market is the rising adoption of cloud-based deployment models. Hosted on private or public clouds, cloud-based space planning solutions offer benefits such as low upfront costs, automatic updates, scalability, and easy access from any internet-connected device. They enable large as well as small and mid-sized enterprises to design, analyze, and manage floor plans without heavy on-premise infrastructure investments. Furthermore, the availability of mobility features in cloud-hosted space planning tools is facilitating their usage on smartphones and tablets. With offices moving towards flexible arrangements, mobile-optimized cloud platforms help employees, facility managers, and work designers collaborate effectively from any location.

Porter’s Analysis

Threat of new entrants: The space planning software market has moderate threat of new entrants given the well-established brands, high switching costs for customers, and need for technical expertise.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of various vendors providing space planning software. However, switching costs are relatively high.

Bargaining power of suppliers: A few large companies dominate the supply of space planning software, giving them significant bargaining power over buyers.

Threat of new substitutes: There is low threat of substitution as space planning software provides unique capabilities for managing facilities and real estate portfolios.

Competitive rivalry: The market has high competitive rivalry due to presence of numerous global and regional vendors competing on capabilities and pricing.

Key Takeaways

The Global Space Planning Software Market Demand is expected to witness high growth. The global space planning software market is estimated to be valued at US$ 1114.48 billion in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.

Regional analysis comprises North America is the largest region currently and is expected to dominate the market during the forecast period as well owing to high technology adoption rates. Asia Pacific is expected to witness the highest growth during the forecast period attributed to rapidly growing construction and real estate sectors in countries such as China and India.

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. Key players are focusing on partnerships and new product launches to strengthen their market presence.

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