Architectural, Engineering and Construction (AEC) Market Outlook
According to the report by Expert Market Research (EMR), the global architectural, engineering and construction (AEC) market price reached a value of USD 9.1 billion in 2022. Aided by the rising demand for high-performing and superior infrastructure and the technological advancements in AEC, the market is projected to further grow at a CAGR of 10.40% between 2023 and 2028, reaching a value of USD 16.4 billion by 2028.
The AEC sector encompasses the companies involved in the design, planning, construction, and management of buildings, infrastructure, and industrial structures. It plays an integral role in shaping the built environment, contributing to economic growth, social cohesion, and overall quality of life. Its work ranges from residential houses, offices, schools, hospitals, to roads, bridges, power plants, and even entire cities.
The increasing global population and the growing demand for improved infrastructure are pivotal factors driving the global architectural, engineering and construction (AEC) market growth. This surge in demand is especially pronounced in emerging economies where urbanisation is rapidly accelerating. Coupled with the need for infrastructure replacement and upgrades in developed countries, these factors are fuelling a robust demand for AEC services worldwide.
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Furthermore, the escalating interest in sustainable and energy-efficient construction is contributing significantly to the architectural, engineering and construction (AEC) market expansion. As concerns about climate change grow, there’s a rising emphasis on constructing buildings that are energy-efficient, have lower carbon footprints, and are made from sustainable materials. This trend towards green building is expected to offer substantial growth opportunities for the AEC market in the forthcoming years.
In addition to this, the increasing adoption of Building Information Modelling (BIM) in the AEC sector is providing a strong impetus to the architectural, engineering and construction (AEC) market development. BIM is a 3D model-based process that gives architecture, engineering, and construction professionals the insights and tools to plan, design, construct, and manage buildings and infrastructure more efficiently. The growing adoption of BIM, driven by its ability to improve collaboration, reduce errors and costs, and facilitate better project outcomes, is significantly propelling the AEC market growth.
On another front, the architectural, engineering and construction (AEC) market is also benefiting from the digital transformation sweeping across all sectors. The use of advanced technologies such as artificial intelligence (AI), machine learning, and drones is revolutionising how AEC firms operate, offering improved productivity, increased accuracy, and enhanced safety. This integration of digital technology into the AEC industry is anticipated to foster architectural, engineering and construction (AEC) market growth further.
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Architectural, Engineering and Construction (AEC) Market Segmentation
The market can be divided based on component, deployment, enterprise, end use, and region.
Market Breakup Component
Market Breakup by Deployment
- On-Premise
- Cloud-Based
- Others
Market Breakup by Enterprise
- Small and Medium-Sized Enterprises
- Large Enterprise
Market Breakup by End Use
- Constructure and Architecture
- Education
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global architectural, engineering and construction (AEC) companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Ansys, Inc
- Autodesk Inc.
- Aveva Group Plc
- Bentley Systems Inc.
- Dassault Systemes SE
- Hexagon AB
- Nemetschek SE
- Newforma, Inc.
- Trimble Inc.
- PTC Inc.
- Others
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