Urban Planning Software and Services Market: Analysis of Potential Business Opportunity Worth USD 216.38 Billion by 2030
NEWARK, UNITED STATES, April 18, 2022 /EINPresswire.com/ -- The Brainy Insights launched a study titled Urban Planning Software and Services Market Size by Deployment (Web-based, Cloud-based), Component (Service, Software), End User (Real Estate and Infrastructure Companies, Government), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2030
The global urban planning software and services market is expected to grow from USD 146.18 Billion in 2020 to USD 216.38 Billion by 2030, at a CAGR of 4% during the forecast period 2021-2030. Urban planning software is used to create 3D urban environment models and plan urban layouts. Urban planning software is being used by city planners and architects to visualize how real-world urban designs would look. The use of 3D visualizations can help to improve urban planning proposals and town design layouts. Architects, real estate agencies, infrastructure developers, urban planners, and urban development-related creative departments all use urban planning software.
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The cloud segment led the market with a market value of around 90.78 billion in 2020.
The deployment segment is divided into web-based and cloud-based. The cloud segment led the market with a market value of around 90.78 billion in 2020. This is due to a rise in the awareness and popularity of cloud-based software deployments among organizations.
The service segment is anticipated to grow at the fastest CAGR of around 5.6% over the forecast period.
The component segment includes service and software. The service segment is anticipated to grow at the fastest CAGR of around 5.6% over the forecast period. Due to its vast population and massive government infrastructure spending, China is rapidly expanding in the services market. Several Chinese firms are among the leading players in the market for urban planning services. During the forecast period, the market for urban planning services is expected to grow due to the increasing acceptance of smart cities and the development of intelligent transportation systems in numerous cities around the world.
The government segment led the market with a market value of around 93.70 billion in 2020.
The end-user segment includes real estate and infrastructure companies, government. The government segment led the market with a market value of around 93.70 billion in 2020. This is due to government bodies' increased investment in smart city technology, projects, and other technological infrastructure for the benefit of society.
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Regional Segmentation Analysis:
The market is analyzed based on five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. In 2020, Asia Pacific dominated the market, and it is expected to grow at a CAGR of over 5.8% over the forecast period. Market expansion in the region is being driven by factors like ongoing smart city initiatives and expanding industrialization. For example, the Association of Southeast Asian Nations (ASEAN) is actively working on over 26 smart city projects. Japan and India announced their collaboration on smart city development in January 2017. Japan will aid India in the building of three smart cities, namely Chennai, Ahmedabad, and Varanasi, as part of this collaboration.
Competitive Analysis:
The major players of 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.
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