The global urban planning software & services market size was worth around USD 145.81 Billion in 2022 and is predicted to grow to around USD 215.32 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 4.41% between 2023 and 2030.
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➤ Market growth is significantly influenced by rapid urbanization
The global urban planning software and services market is anticipated to expand as a result of the increasing urbanization rate. Urbanization is the term used to describe the process of population growth and settlement in urban or adjacent areas. As time progresses, a significant portion of the global populace is relocating to urban areas in search of improved living conditions and increased employment opportunities.
➤ Inadequate awareness to limit market expansion
The global urban planning software & services industry is anticipated to encounter growth constraints as a result of the absence of awareness regarding the benefits of urban planning software programs. Traditional paper-and-pen methods of urban planning for regional development are still employed by a significant number of urban planners, particularly those in economically distressed regions. Cities in densely populated countries are frequently subject to frequent waterlogging during rainfall seasons as a result of unplanned construction. Furthermore, the absence of sufficient infrastructure to facilitate the implementation of such sophisticated systems may result in an increased revenue loss.
➤ Utilizing data-driven decision-making to generate numerous growth prospects
The global urban planning software & services industry is anticipated to capitalize on the increasing demand for data-driven and well-researched decision-making in both the private and public sectors. The utilization of sophisticated urban planning software and services can offer exceptional insights into a variety of critical components that are crucial to the planning of city development. For example, the most viable solutions to infrastructure development issues can be determined by analyzing land use, demographic trends, and transportation patterns.
➤ Insufficient funding to serve as a market challenge
The adoption of urban planning software and services by regions with limited financial resources may be challenging due to the high cost of such advanced software and its implementation, which may impede the development of the urban planning software and services industry. Furthermore, the industry’s development could be further impeded by the increasing apprehensions regarding data security and privacy, as the programs collect and process sensitive data.
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The Global Urban Planning Software & Services Market is segmented based on product, application and region
Global Urban Planning Software & Services Market: Product Segment Analysis
● Services
● Software
Global Urban Planning Software & Services Market: Application Segment Analysis
● Companies
● Government
● Real Estate & Infrastructure
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The global Urban Planning Software & Services market profiles key players such as:
● ESRI
● Bentley Systems
● Autodesk
● Hexagon AB
● Stantec
● Jacobs Engineering Group
● Atkins Global
● AECOM
● HDR Inc.
● Trimble Inc.
● City Form Lab
● IBI Group
● WSP Global Inc.
● Ramboll Group
???? Recent Developments:
• Autodesk, an American multinational software corporation that specializes in the development of software products and associated services for the architecture, media, engineering, manufacturing, education, construction, and entertainment industries, announced the acquisition of Spacemaker in November 2020. Spacemaker is an AI-driven software for urban planning. Spacemaker software is renowned for its generative design capabilities in architectural environments.
• Sidewalks Labs, an urban planning and infrastructure subsidiary of Google, announced the release of Delve in October 2020. Delve is enabled by machine learning (ML). It can assist architects, developers, and other administrators in the efficient design of urban areas.
➤ The preponderance of the market share is expected to be held by North America.
North America is currently one of the most significant regional contributors to the global urban planning software & services market, and it is anticipated that it will experience the most significant growth. The high CAGR is primarily due to factors such as stringent regulations from the government and associated bodies that ensure the implementation of planned urban region development, particularly in the United States. It is home to some of the most well-organized regions in the world.
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