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Construction and Design Software - Hungary

Hungary

Hungary, a country in Central Europe, is also expected to witness significant growth in the Construction and Design Software market.
By 2024, the projected revenue for this market segment in Hungary is estimated to reach €13.13m.
This growth is expected to continue, with an annual growth rate (CAGR 2024-2029) of 2.75%, resulting in a market volume of €15.04m by 2029.
When compared globally, it is worth noting that United States is projected to generate the highest revenue in the Construction and Design Software market.
In 2024, the revenue United States is estimated to be €4,974.00m, highlighting its dominance in this industry.
The demand for advanced construction and design software in Hungary is growing rapidly, as the country experiences a surge in infrastructure development projects.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

Hungary is experiencing a significant development in the Construction and Design Software market, which is reshaping the way architects, engineers, and construction professionals work. The market is driven by the increasing demand for smart buildings, sustainable infrastructure, and the need for efficient project management.

Customer preferences: Hungarian customers are becoming more aware of the importance of using Construction and Design Software to improve their project outcomes. They are increasingly looking for software that can provide them with real-time collaboration, 3D modeling, and Building Information Modelling (BIM) capabilities. The demand for cloud-based solutions is also growing, as it allows for easy access to project data and collaboration from anywhere.

Trends in the market: One of the significant trends in the Hungarian Construction and Design Software market is the adoption of BIM. BIM is becoming increasingly popular in Hungary, as it enables construction professionals to create digital models of buildings, which can be used to simulate and optimize construction processes. Another trend is the use of Artificial Intelligence (AI) and Machine Learning (ML) in Construction and Design Software. AI and ML are being used to automate repetitive tasks, optimize project schedules, and improve the accuracy of cost estimates.

Local special circumstances: The Hungarian government is investing heavily in infrastructure development, which is driving the demand for Construction and Design Software. The government's focus on sustainable infrastructure is also creating opportunities for software vendors that offer solutions for energy-efficient building design and construction. Additionally, Hungary's location in the heart of Europe makes it an attractive location for multinational companies, which is driving the demand for Construction and Design Software.

Underlying macroeconomic factors: The Hungarian economy is growing, which is creating opportunities for the Construction and Design Software market. The country's GDP growth rate is expected to remain strong in the coming years, which will drive demand for new infrastructure and construction projects. Additionally, Hungary's membership in the European Union provides access to funding for infrastructure projects, which is driving the demand for Construction and Design Software.

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.