Space Planning Software Is Estimated To Witness High Growth Owing To Opportunity Of Increasing Demand For Space Optimization

 

SPACE PLANNING SOFTWARE MARKET
Space Planning Software Market


Space planning software is extensively used for space management, floor planning, space analysis, and cad services by various industries including corporate offices, healthcare facilities, educational institutions, and others. Space planning software helps in efficient layout planning, space utilization analysis, and facility management. It assists organizations in optimally allocating available space and analyzing various space planning scenarios.

The global Space Planning Software Market is estimated to be valued at Us$ 967.43 Mn in 2023 and is expected to exhibit a CAGR Of 13.% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The increasing demand for space optimization across industries is expected to drive the growth of space planning software market during the forecast period. Space planning software aids organizations in optimally planning available space and analyzing different space planning scenarios. This helps organizations reduce operation costs associated with unused or under-utilized space and enhance workplace productivity. As organizations aim to maximize utilization of existing facilities, there is growing demand for space planning software. Rising construction of new facilities coupled with renovation of existing structures will further propel the adoption of space planning software for space management needs. The software assists in efficient facility management by enabling space rationalization and forecasting future space requirements. This provides a major opportunity for vendors to launch advanced space planning software solutions and gain increased market share.

Porter’s Analysis

Threat of new entrants: Low capital requirement for software development lowers the threat of new entrants. However, established players have strong brand image and customer base.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes. However, switching costs associated with training and customization limits bargaining power.

Bargaining power of suppliers: Software developers have low bargaining power due to presence of several developer companies.

Threat of new substitutes: Threat of substitutes is moderate as other facility management software can be used for space planning functions.

Competitive rivalry: Intense competition exists among key players to gain higher market share through new product launches and strategic partnerships.

SWOT Analysis
Strength: Cloud-based deployment model provides scalability and lower upfront costs. Automated space planning functionalities enhance efficiency.

Weakness: Initial phase implementation requires end user training. On-premises deployment incurs high installation and maintenance costs.

Opportunity: Growth in demand from commercial real estate and corporate workplace management sectors. Adoption in government offices and educational institutions.

Threats: Economic slowdowns reduce facility management budgets. Open-source and low-cost alternatives pose pricing pressure.

Key Takeaways


The Global Space Planning Software Market Demand  is expected to witness high growth.

The Asia Pacific region is expected to grow at the fastest CAGR during the forecast period owing to rapid economic development and increasing need for efficient space utilization from commercial sectors in emerging countries.


North America dominates the global market currently due to widespread awareness and early adoption among commercial real estate owners and corporate workspaces. Growth in the US and Canada is driven by availability of advanced infrastructure to support cloud-based applications.

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. Accruent leads the market with its comprehensive space management platform. IBM offers a modular solution for hybrid workplaces. Planon caters to higher education and healthcare sectors.

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