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Construction and Design Software - India

India

The Construction and Design Software market in India is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is set to reach €136.10m by the year 2024.
Furthermore, it is anticipated that the market will experience a steady annual growth rate of 6.63% from 2024 to 2029, resulting in a market volume of €187.60m by the end of the forecast period.
When comparing the global market, it is noteworthy that United States is expected to generate the highest revenue in the Construction and Design Software market, with a projected revenue of €4,974.00m in 2024.
India's construction and design software market is rapidly growing due to increased urbanization and infrastructure development in the country.

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

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Analyst Opinion

The Construction and Design Software market in India has been experiencing significant growth in recent years.

Customer preferences: Indian customers are increasingly demanding software that can help them manage their construction projects more efficiently. The demand for software that can automate tasks such as project scheduling, budgeting, and resource allocation has been steadily increasing. Additionally, customers are looking for software that can help them design and visualize their projects in 3D.

Trends in the market: One of the major trends in the Construction and Design Software market in India is the increasing adoption of cloud-based software. Cloud-based software offers several advantages over traditional on-premise software, including lower costs, greater scalability, and easier collaboration. Another trend is the increasing use of Building Information Modeling (BIM) software. BIM software allows architects and engineers to create detailed 3D models of buildings, which can help to identify potential problems before construction begins.

Local special circumstances: India has a large and growing construction industry, which is driving demand for Construction and Design Software. The Indian government has also launched several initiatives aimed at promoting the use of technology in the construction industry, which is further driving demand for software. Additionally, India has a large number of engineering and architecture colleges, which are producing a large number of skilled professionals who are capable of using Construction and Design Software.

Underlying macroeconomic factors: India has been experiencing rapid economic growth in recent years, which has led to increased investment in infrastructure and construction projects. Additionally, the Indian government has launched several initiatives aimed at promoting the construction industry, including the Smart Cities Mission and the Atal Mission for Rejuvenation and Urban Transformation. These initiatives are driving demand for Construction and Design Software. Finally, the increasing availability of high-speed internet and mobile devices in India is making it easier for customers to access and use 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.