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Construction and Design Software - China

China

The country of China is projected to witness a significant increase in revenue within the Construction and Design Software market.
By the year 2024, it is estimated that the revenue will reach a substantial amount of €0.55bn.
Looking ahead, experts predict an annual growth rate (CAGR 2024-2029) of 4.94%, which will ultimately lead to a market volume of €0.70bn by 2029.
In comparison to other countries worldwide, United States is expected to generate the highest revenue of €4,974.00m in 2024.
China's booming construction industry has led to a surge in demand for advanced design software, driving innovation in the country's software market.

Key regions: United Kingdom, Netherlands, Germany, Australia, Japan

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Analyst Opinion

China, one of the fastest-growing economies in the world, has witnessed significant growth in the Construction and Design Software market in recent years.

Customer preferences: Chinese customers are increasingly interested in using construction and design software to help them plan and execute their construction projects. This is due to the increasing demand for faster and more efficient construction processes across the country, as well as the growing need for sustainable and environmentally friendly buildings.

Trends in the market: The Construction and Design Software market in China is experiencing significant growth due to the increasing demand for innovative and efficient construction solutions. The market is expected to continue to grow as more construction companies adopt digital technologies to improve their operations. The use of Building Information Modelling (BIM) is becoming more common in China's construction industry, as it helps to improve collaboration between different stakeholders and reduces the risk of errors during the construction process.

Local special circumstances: China's construction industry is unique due to the country's large population and rapidly growing economy. The government's focus on infrastructure development has led to a surge in construction projects across the country, creating a huge demand for construction and design software. Additionally, the Chinese construction industry is highly regulated, which has led to the development of specialized software solutions that cater to the specific needs of the Chinese market.

Underlying macroeconomic factors: China's strong economic growth, increasing urbanization, and growing population have all contributed to the growth of the Construction and Design Software market in the country. The government's focus on infrastructure development, particularly in the areas of transportation and housing, has led to a surge in construction projects across the country. Additionally, the Chinese government's commitment to sustainable development has led to an increasing demand for environmentally friendly construction solutions, which has further driven the growth of the Construction and Design Software market.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.