Urban Planning Software and Services Market to Reach USD 216.38 Billion by 2030; Increase investment in smart city development by various governments to support growth, according to The Brainy Insights
The global planning software and services industry is expected to witness substantial growth owing to the growing acceptance of smart cities and the development of intelligent transportation systems in many cities around the world.
Newark, May 04, 2022 (GLOBE NEWSWIRE) — According to report published by The Brainy Insights, the global market for urban planning software and services is expected to grow from USD 146.18 billion in 2020 to USD 216.38 billion by 2030. , at a CAGR of 4% over the forecast period 2021-2030.
Urban planning, also known as town planning, urban planning, land use planning, is a political and technical process that focuses on the design and development of land use and the built environment, including water, air and infrastructure entering and leaving urban areas, such as communication, transport and distribution networks, as well as their accessibility.
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Urban planning is a development process that includes political and technical issues such as land use and development, social welfare, and environmental protection. As a result, planners and planners working for government or other urban development agencies often need tools to help them lay out designs and development plans. Urban planning provides solutions to work, life and leisure issues in every area, guiding orderly growth in suburban, urban and rural areas. The development of towns and cities is led by planners. An effective and well-developed urban plan requires extensive research and input from a range of stakeholders, including landowners, citizens and government officials.
Urban planning software makes it possible to create 3D urban environment models and to plan urban developments. Urban planners and architects use urban planning software to visualize what real-world urban designs would look like. Using 3D visualizations can help improve urban planning proposals and city design plans. Architects, real estate agencies, infrastructure developers, urban planners and creative departments related to urban development all use urban planning software. Due to the implementation of plans and programs such as smart cities initiatives, the global market for urban planning software and services is expected to grow as digital transformation will revolutionize all sectors across the globe. The market for planning software and services is expected to grow due to factors such as the shift from rigid decision-making to a more centralized model. Governments are moving towards a centralized model that is more accessible to individuals and ecosystem partners in the value chain. To reap the benefits of digitization, planning software and service providers are collaborating with high-tech companies.
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Key players operating in the global city planning software and services market include AECOM, Autodesk Inc., Act-3D, Holistic City Limited, UrbanFootprint, Bentley Systems, Incorporated, Boston Consulting Group, Ramboll Group A/S, Simwalk, and UrbanSim Inc. among others. To strengthen their position in the global planning software and services market, the major players are now focusing on adopting strategies such as product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations and partnerships.
The cloud segment led the market with a market share of 62.1% and a market value of around 90.78 billion in 2020.
Deployment segment is divided into web-based and cloud-based. The cloud segment led the market with a market share of 62.1% and a market value of around 90.78 billion in 2020.
The services segment is expected to grow at the fastest CAGR of around 5.6% during the forecast period.
The component segment includes services and software. The services segment is expected to grow at the fastest CAGR of around 5.6% during the forecast period. This is due to the growing demand from urban planners for infrastructure planning, building planning, consulting and digital services.
The real estate and infrastructure companies segment is expected to grow at the fastest rate, with a CAGR of 4.7%.
The end-user segment includes real estate and infrastructure companies, government. The real estate and infrastructure companies segment is expected to grow at the fastest rate, with a CAGR of 4.7%. The expansion of this segment can be attributed to governments around the world focusing more on infrastructure development projects as an increasing number of people move to cities in search of employment. The growing availability of advanced solutions for real estate and infrastructure businesses, along with the wide range of benefits that come with them, are also propelling the market in this segment.
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Regional Segment Analysis of Urban Planning Software and Services Market
• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, rest of APAC)
• South America (Brazil and rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
In 2020, Asia-Pacific dominated the market and is expected to grow at a CAGR of over 5.8% during the forecast period. Market expansion in the region is driven by factors such as ongoing smart city initiatives and expanding industrialization. For example, the Association of Southeast Asian Nations (ASEAN) is actively working on more than 26 smart city projects. Japan and India announced their collaboration on smart city development in January 2017. Japan will help India build three smart cities namely Chennai, Ahmedabad and Varanasi under this collaboration.
About the report:
The global market for urban planning software and services is analyzed by value (in billions of dollars). All segments have been analyzed on a global, regional and country basis. The study includes analysis of more than 30 countries for each segment. The report offers an in-depth analysis of the drivers, opportunities, restraints and challenges to obtain key market insights. The study includes Porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position analysis, distribution and marketing channel analysis.
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The Brainy Insights is a market research company, aiming to provide businesses with actionable insights through data analytics to improve their business acumen. We have a robust forecasting and estimating model to meet customers’ high-quality production goals in a short period of time. We provide custom (customer specific) and syndicated reports. Our union reporting repository is diverse across all domain categories and subcategories. Our customized solutions are designed to meet customer requirements, whether they are looking to expand or planning to launch a new product in the global market.